Bank of Canada says it raised policy rate to 2.5%
In a Senate committee statement, the bank said the 25-basis-point increase was its first since July 2023.
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https://davids.news/s/bank-of-canada-says-it-raised-policy-rate-to-2-5-e93a1add
- The Bank of Canada cited a deteriorating inflation outlook and higher global oil prices expected to last longer.
The bank said higher oil prices are raising costs for Canadians at the pump and for businesses.
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Opening Statement to the Standing Senate Committee on Banking, Commerce and the Economy
Bank of Canada · Speeches
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Bank of Canada says it raised policy rate to 2.5%
- Bank of Canada · SpeechesOpening Statement to the Standing Senate Committee on Banking, Commerce and the EconomyAdapted summary. Source: Bank of Canada · Speeches 2026 · Nov 5, 2026 (UTC)
In a Senate committee statement, the bank said the 25-basis-point increase was its first since July 2023.
- Bank of Canada · SpeechesOpening Statement to the Standing Senate Committee on Banking, Commerce and the EconomyAdapted summary. Source: Bank of Canada · Speeches 2026 · Nov 5, 2026 (UTC)
The Bank of Canada cited a deteriorating inflation outlook and higher global oil prices expected to last longer.
- Bank of Canada · SpeechesOpening Statement to the Standing Senate Committee on Banking, Commerce and the EconomyAdapted summary. Source: Bank of Canada · Speeches 2026 · Nov 5, 2026 (UTC)
The bank said higher oil prices are raising costs for Canadians at the pump and for businesses.
- Bank of Canada · SpeechesOpening Statement to the Standing Senate Committee on Banking, Commerce and the EconomyAdapted summary. Source: Bank of Canada · Speeches 2026 · Nov 5, 2026 (UTC)