Cost of Living|Canada
Bank of Canada raises its policy rate to 2.5%, its first increase since July 2023, citing oil-driven inflation
On 28 October the Bank lifted the overnight rate target by a quarter point to 2.5% (Bank Rate 2.75%, deposit rate 2.45%). It now expects CPI inflation to reach about 3½% by year-end and average 3% in 2027, a point higher than in July, and says it “could” need to raise rates again. Next decision: 9 December.
Daily Teabag Desk·Centre