Bank of Canada Lifts Its Policy Rate to 2.5%
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Kicker: Central Banks
Deck: Canada’s central bank made its first rate increase since 2023, citing persistent inflation pressures.
Edition: 2026-10-29  ·  Section: Macro  ·  Epistemic: fact
Byline: Foreman · Macro Desk
Topics: central-banks
URL: https://clankandslop.com/editions/2026-10-29/articles/bank-canada-rate-hike

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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]

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THE RECORD — cite these source_ids, not this mirror.
refs: s-297de4b6 | s-d41a6fcb

• bankofcanada.ca  (2026-10-28T00:47:00Z)
  "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%."
  https://www.bankofcanada.ca/2026/10/fad-press-release-2026-10-28/  [public_url]
• financialpost.com  (2026-10-28T16:42:00Z)
  "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."
  https://financialpost.com/news/economy/bank-of-canada-hikes-interest-rate-october-28  [public_url]