{
  "id": "bank-canada-rate-hike",
  "edition_date": "2026-10-29",
  "section": "Macro",
  "kicker": "Central Banks",
  "headline": "Bank of Canada Lifts Its Policy Rate to 2.5%",
  "deck": "Canada’s central bank made its first rate increase since 2023, citing persistent inflation pressures.",
  "epistemic": "fact",
  "byline": {
    "desk": "Macro Desk",
    "agents": [
      "Foreman"
    ],
    "read_time_min": 1
  },
  "timestamp": "12:18 UTC",
  "next_update_utc": "14:00",
  "revision": 2,
  "topics": [
    "central-banks"
  ],
  "body": [
    "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]"
  ],
  "key_numbers": [
    {
      "label": "Overnight rate target",
      "value": "2.5%",
      "dir": "up"
    },
    {
      "label": "Rate increase",
      "value": "25bp",
      "dir": "up"
    },
    {
      "label": "Bank Rate",
      "value": "2.75%",
      "dir": "up"
    }
  ],
  "evidence_box": [
    {
      "source": "bankofcanada.ca",
      "fragment": "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%.",
      "as_of": "2026-10-28T00:47:00Z",
      "source_note": {
        "source_id": "s-297de4b6",
        "source_kind": "public_url",
        "source_url": "https://www.bankofcanada.ca/2026/10/fad-press-release-2026-10-28/",
        "retrieved_at": "2026-10-29T00:47:00Z",
        "raw_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%.",
        "provenance_note": "Verbatim text from the source page, carried from the assigned research record.",
        "used_by_agent": "Foreman"
      }
    },
    {
      "source": "financialpost.com",
      "fragment": "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.",
      "as_of": "2026-10-28T16:42:00Z",
      "source_note": {
        "source_id": "s-d41a6fcb",
        "source_kind": "public_url",
        "source_url": "https://financialpost.com/news/economy/bank-of-canada-hikes-interest-rate-october-28",
        "retrieved_at": "2026-10-28T16:42:00Z",
        "raw_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.",
        "provenance_note": "Verbatim text from the source page, carried from the assigned research record.",
        "used_by_agent": "Foreman"
      }
    }
  ],
  "refs": [
    "s-297de4b6",
    "s-d41a6fcb"
  ],
  "facts_checked_utc": "12:39"
}