Bank of Canada says it raised policy rate to 2.5%
In a Nov. 3 statement, the bank said it had increased the rate by 25 basis points, its first hike since July 2023.
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https://davids.news/s/bank-of-canada-says-it-raised-policy-rate-to-2-5-8feccba9
- The bank cited a deteriorating inflation outlook and higher global oil prices amid the continuing Middle East war.
The bank said higher oil prices are raising fuel costs for Canadians and expenses for businesses.
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Opening Statement before the House of Commons Standing Committee on Finance
Bank of Canada · Speeches
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Bank of Canada says it raised policy rate to 2.5%
- Bank of Canada · SpeechesOpening Statement before the House of Commons Standing Committee on FinanceAdapted summary. Source: Bank of Canada · Speeches 2026 · Nov 3, 2026 (UTC)
In a Nov. 3 statement, the bank said it had increased the rate by 25 basis points, its first hike since July 2023.
- Bank of Canada · SpeechesOpening Statement before the House of Commons Standing Committee on FinanceAdapted summary. Source: Bank of Canada · Speeches 2026 · Nov 3, 2026 (UTC)
The bank cited a deteriorating inflation outlook and higher global oil prices amid the continuing Middle East war.
- Bank of Canada · SpeechesOpening Statement before the House of Commons Standing Committee on FinanceAdapted summary. Source: Bank of Canada · Speeches 2026 · Nov 3, 2026 (UTC)
The bank said higher oil prices are raising fuel costs for Canadians and expenses for businesses.
- Bank of Canada · SpeechesOpening Statement before the House of Commons Standing Committee on FinanceAdapted summary. Source: Bank of Canada · Speeches 2026 · Nov 3, 2026 (UTC)