Bank of Canada

U.K News / US News

Bank of Canada Raises Interest Rate to 2.50% in First Hike Since 2023

The Bank of Canada raised its key policy interest rate by 25 basis points to 2.50% on Wednesday, 28 October 2026, its first increase since July 2023. Governor Tiff Macklem said the move was needed to stop elevated energy prices spilling over into broader inflation, while warning that further increases may be needed but will be approached carefully. The decision,…