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Bank of Canada rate decision Oct. 28, 2026: what to expect

The Bank of Canada announces its next rate decision at 9:45 a.m. ET on Oct. 28 with a new Monetary Policy Report. The policy rate is 2.25 per cent, several big banks now expect a quarter-point hike, and our table shows what that would mean for variable mortgages at $300,000, $500,000 and $750,000.