Bank of Canada raises rate to 2.5%
Canada's central bank raised its rate by 0.25 points, first rise since 2023, citing inflation tied to oil prices.
Why it matters: Loans cost more for Canadians.
Sources: AFP via Wikipedia · See it on the globe
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The story so far · 2 days, October 28 to 29, 2026
Bank of Canada raises rate to 2.5%
One Turn followed this story across 2 editions, from Ottawa, Canada on October 28, 2026. Newest first.
Oil prices rose with the Iran war.
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Bank of Canada raises rate to 2.50%
The bank raised its rate a quarter point, its first rise since July 2023. It cited energy-driven inflation.
Why it matters: Canadian borrowers face higher costs.
Sources: Al Jazeera, AFP via Wikipedia · See it on the globe