Know the Dates: Bank of Canada Rate Announcements for 2027.

For a while there, Bank of Canada announcement days were easy to sleep through. Not anymore. On October 28, the Bank raised its policy rate by 25 basis points to 2.5%, and suddenly homeowners and buyers alike are asking the same question: when’s the next one?

Good news for planners: the Bank has already published its full 2027 calendar. Here’s every date, which ones matter most, and how to work them into your buying or selling plans.

The 2027 Bank of Canada Announcement Calendar

According to the Bank’s official 2027 announcement schedule, there are eight decision days next year. Every one lands on a Wednesday at 9:45 a.m. ET.

Date	Day	Monetary Policy Report?
January 27, 2027	Wednesday	Yes
March 3, 2027	Wednesday	No
April 28, 2027	Wednesday	Yes
June 2, 2027	Wednesday	No
July 21, 2027	Wednesday	Yes
September 8, 2027	Wednesday	No
October 27, 2027	Wednesday	Yes
December 8, 2027	Wednesday	No

The four dates marked “Yes” are the ones to circle. They come with the Monetary Policy Report, the Bank’s full economic update, so they tend to carry the most detail on where policy could be heading.

One More Date Before the New Year

Don’t put the calendar away just yet. There’s still one decision left in 2026: Wednesday, December 9. It’s the final announcement of the year and the first chance to see whether October’s move was a one-off or the start of something more.

Why These Dates Matter Again

What Happened in October

The Bank moved its policy rate from 2.25% to 2.5% on October 28. That’s the first increase since July 2023, after the rate had sat at 2.25% for a full year. The Bank’s stated goal was to keep high energy prices from spreading into the cost of other goods and services.

It also left the door open. The Bank said another increase could be needed, but that it would proceed carefully. In other words, every date on the calendar above is now a live one.

Fixed vs. Variable: Who Feels It First

Not every mortgage reacts the same way. Variable-rate mortgages and HELOCs are tied to the prime rate, so they typically adjust within days of an announcement. As MoneySense points out, fixed mortgage rates aren’t directly tied to Bank of Canada decisions. They follow bond yields instead, which can move ahead of (or regardless of) announcement day.

What It Means for Toronto Buyers and Sellers

Let’s take a look at where the local market stood heading into the hike. According to TRREB’s September Market Watch, GTA sales came in at 5,040, down 9% year-over-year, and the average price was $1,006,409, down 5.1%. TRREB described buyers as being in a holding pattern, with uncertainty around borrowing costs keeping many on the sidelines.

That said, a holding pattern isn’t a standstill. Fewer active buyers can mean more room to negotiate, and well-prepared sellers still stand out. (Data note: these are the latest figures available as of October 29, 2026. October numbers arrive in early November, and we’ll break them down in our monthly Toronto market updates.)

How to Plan Around Announcement Day

You can’t control what the Bank decides, but you can control your timing. Here’s where we see the biggest opportunity:

1. Lock in a rate hold early. Many lenders will hold your pre-approval rate for a set period. Getting one in place before an announcement gives you a safety net either way. Our guide to preparing for a mortgage in Toronto walks through the steps.
2. Know your renewal date. If your mortgage renews in 2027, check which announcements fall in the months before it. That’s your window to compare options.
3. Factor rate news into offer timing. Announcement weeks can shift buyer sentiment fast. A clear plan helps you move with confidence, which is a big part of how our buyers stay one step ahead.
4. Sellers: time your launch. Listing right before or after a decision can affect how buyers feel walking through the door. It’s one more piece of our selling approach.

So, will December 9 bring another move, or a pause to see how October’s increase settles in? We’ll be watching closely. In the meantime, if you’re wondering how the 2027 calendar fits your own plans, book a strategy call with our team. We’d be happy to map it out with you.