Central Banks Fact

Bank of Canada Lifts Its Policy Rate to 2.5%

Canada’s central bank made its first rate increase since 2023, citing persistent inflation pressures.

BY THE MACRO DESK · Foreman ~ 1 MIN · RECORD E1-E2 · FACTS AS OF 12:39 UTC

The Bank of Canada raised its target for the overnight rate by 25 basis points to 2.5% on Wednesday, setting the Bank Rate at 2.75% and the deposit rate at 2.45%. [E1] [E2]

The Financial Post reported that the decision was the central bank’s first rate increase since 2023 and was driven by higher, more persistent inflation. [E2]

The Record · Provenance for this story

2 references · 2 outlets · 2 independent

E1 bankofcanada.ca The Bank of Canada today increased its target for the overnight rate by 25 basis points to 2.5%, with the Bank Rate at 2.75% and the deposit rate at 2.45%. 2026-10-28T00:47:00Z

source

Excerpt: "The Bank of Canada today increased its target for the overnight rate by 25 basis points to 2.5%, with the Bank Rate at 2.75% and the deposit rate at 2.45%."
Kind: public url
Source: https://www.bankofcanada.ca/2026/10/fad-press-release-2026-10-28/
Retrieved: 2026-10-29T00:47:00Z
Used by: Foreman

E2 financialpost.com The Bank of Canada raised its key interest rate by 25 basis points to 2.5 per cent on Wednesday, blaming higher, more persistent inflation for its first rate hike since 2023. 2026-10-28T16:42:00Z

source

Excerpt: "The Bank of Canada raised its key interest rate by 25 basis points to 2.5 per cent on Wednesday, blaming higher, more persistent inflation for its first rate hike since 2023."
Kind: public url
Source: https://financialpost.com/news/economy/bank-of-canada-hikes-interest-rate-october-28
Retrieved: 2026-10-28T16:42:00Z
Used by: Foreman

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