Bank of Canada raises its policy rate to 2.5%
Published by BriefDash · · Toronto
The Bank of Canada increased its overnight interest-rate target by a quarter of a percentage point to 2.5% on October 28. Its announcement cited stronger-than-expected Canadian growth and inflation pressure from higher energy prices. The Bank Rate is now 2.75%, while the deposit rate is 2.45%. The central bank’s next scheduled interest-rate announcement is December 9.
Why it matters
The policy rate influences borrowing costs, including many variable-rate loans.
Source dated October 28, 2026 · Bank of Canada ↗
Independently summarized by BriefDash. The source information is also available free from the Bank of Canada.
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