Bank of Canada raises policy rate to 2.5% amid oil price surge

Bank of Canada raises policy rate to 2.5% amid oil price surge

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The Bank of Canada raised its policy rate by 0. 25 percentage point to 2. 5% on 28 October, its first increase since July 2023, and signaled that further hikes could follow to curb inflation driven by rising energy costs.

Analysts had expected the central bank to act as oil prices surged and core-inflation data gave mixed signals. Earlier reports noted that the hike would raise borrowing costs for variable-rate mortgages, lines of credit and auto loans while boosting returns on savings accounts, bonds and GICs. Some economists warned the move might be premature given weak growth and limited inflation pressure, and Governor Tiff Macklem had recently commented on the situation.

अभिनेताओं

Bank of Canada Governor Tiff Macklem Avery Shenfeld Canadian Imperial Bank of Commerce Jeremy Kronick C.D. Howe Institute Nathan Janzen Royal Bank of Canada

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लेख

28 अक्टूबर 2026
3 कुल
Bank of Canada raises key interest rate
Bank of Canada raises key interest rate

BNN Bloomberg • 28 अक्टू 13:54

The Bank of Canada increased its key interest rate to 2.5% and signaled possible further hikes to curb inflation driven by rising energy costs.

विश्वसनीयता 78% हेरफेर 8% मध्यस्थ
Bank of Canada hikes interest rates for the 1st in 3 years
Bank of Canada hikes interest rates for the 1st in 3 years

Global News • 28 अक्टू 12:28

The Bank of Canada increased its policy rate by 0.25 percentage point to 2.5%, its first hike since July 2023, and will publish revised inflation and growth forecasts.

विश्वसनीयता 72% हेरफेर 8% मध्यस्थ
Live updates: Bank of Canada expected to deliver first rate hike in three years as oil shock deepens
Live updates: Bank of Canada expected to deliver first rate hike in three years as oil shock deepens

The Globe and Mail • 28 अक्टू 11:00

Analysts anticipate the Bank of Canada will lift its policy rate for the first time in three years amid rising oil prices, while the U.S. Federal Reserve is projected to keep rates unchanged today.

विश्वसनीयता 72% हेरफेर 9% मध्यस्थ
27 अक्टूबर 2026
2 कुल
Six ways a Bank of Canada rate hike could cost or benefit you
Six ways a Bank of Canada rate hike could cost or benefit you

The Globe and Mail • 27 अक्टू 22:25

A likely quarter-point increase in the Bank of Canada’s policy rate will raise payments on variable mortgages, lines of credit and auto loans, while potentially boosting interest on savings accounts, bonds and GICs.

विश्वसनीयता 72% हेरफेर 28% मध्यस्थ
Bank of Canada rate hike would be mistake, say economists
Bank of Canada rate hike would be mistake, say economists

Financial Post • 27 अक्टू 12:03

Top Canadian economists say a policy-rate increase by the Bank of Canada this week could be a mistake, citing weak growth and limited inflation pressure despite recent comments from Governor Tiff Macklem.

विश्वसनीयता 72% हेरफेर 12% मध्यस्थ
25 अक्टूबर 2026
1 कुल
Bank of Canada expected to raise benchmark rate for first time in three years as oil shock persists
Bank of Canada expected to raise benchmark rate for first time in three years as oil shock persists

The Globe and Mail • 25 अक्टू 19:20

Analysts expect the Bank of Canada to increase its policy rate for the first time in three years as oil prices remain high, though data on core inflation show mixed signals.

विश्वसनीयता 78% हेरफेर 9% मध्यस्थ

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