MONEY GLOBE XBank of Canada and Fed interest rates - next decision dates
The Bank of Canada's policy rate is 2.25% and the US Federal Reserve's target range tops out at 4.00%. The next Bank of Canada announcement is October 28, 2026 (7 days); the next Fed decision is October 28, 2026 (7 days).
Upcoming central bank decisions
| Central bank | Date | Event | Time | Days away |
|---|---|---|---|---|
| Federal Reserve (FOMC) | Wed October 28, 2026 | FOMC rate decision | 14:00 ET | 7 |
| Bank of Canada | Wed October 28, 2026 | Interest Rate Announcement and Monetary Policy Report | 09:45 ET | 7 |
| Federal Reserve (FOMC) | Wed December 09, 2026 | FOMC rate decision + projections (SEP) | 14:00 ET | 49 |
| Bank of Canada | Wed December 09, 2026 | Interest Rate Announcement | 09:45 ET | 49 |
| Federal Reserve (FOMC) | Wed January 27, 2027 | FOMC rate decision | 14:00 ET | 98 |
| Federal Reserve (FOMC) | Wed March 17, 2027 | FOMC rate decision + projections (SEP) | 14:00 ET | 147 |
| Federal Reserve (FOMC) | Wed April 28, 2027 | FOMC rate decision | 14:00 ET | 189 |
| Federal Reserve (FOMC) | Wed June 09, 2027 | FOMC rate decision + projections (SEP) | 14:00 ET | 231 |
Real rates: rates after inflation
| Canada | United States | |
|---|---|---|
| Policy rate | 2.25% 2026-10-19 | 4.00% 2026-10-20 |
| CPI inflation (year over year) | 3.09% 2026-09-01 | 4.02% 2026-09-01 |
| Real policy rate (policy minus inflation) | -0.84% 2026-09-01 | -0.02% 2026-09-01 |
| Mortgage rate (CA 5-year, US 30-year) | 6.19% 2026-10-14 | 7.40% 2026-10-15 |
Why the real rate matters
The policy rate minus inflation shows how tight money really is. A real rate well above zero slows borrowing and spending; a real rate below zero is still stimulating the economy.
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Updated October 21, 2026, 10:02 UTC. Sources: Bank of Canada, Federal Reserve via FRED; dates from federalreserve.gov FOMC calendar ยท bankofcanada.ca upcoming events. Educational information only - not financial advice.