Bank of Canada raises interest rate as inflation projected to worsen

CTV News · Judy Trinh · 2026-10-28 19:22 UTC

The Bank of Canada raised its policy interest rate by 25 basis points to 2.5 per cent. It’s the first hike since July 2023. The central bank wants to control inflation by reducing the risk that high fuel prices could spill over and seep into the overall economy.

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