Central banksCADHigh

Bank of Canada raises its rate to 2.50% on 28 October

The Bank of Canada raised its target for the overnight rate by 25 basis points to 2.50%, with the decision dated 28 October 2026.

By FTC Editorial TeamPublished 1 min read

The Bank of Canada raised its target for the overnight rate by 25 basis points, to 2.50%, with the announcement dated 28 October 2026. The bank's key interest rate page shows the new target and that date (Bank of Canada: key interest rate).

Bank of Canada raises its rate to 2.50% on 28 October — central bank rate path diagram
A central bank's policy rate path across recent meetings

Key figures

  • Target for the overnight rate: 2.50%
  • Change: up 25 basis points, from 2.25%
  • Announcement date: 28 October 2026
Bank of Canada raises its rate to 2.50% on 28 October — risk-reward diagram
A risk-reward ratio of 1 to 2

Reading it

The bank's own inflation data for the period are the reason to read this decision alongside the price figures. Canada's September consumer prices rose 3.1% on the year, and the site's report on that print sets out the detail (Canada's September CPI). For the bank's earlier reasoning on the 2.25% rate, see the BoC trade-off analysis. For how inflation feeds into currencies, see how inflation moves currencies.

Bank of Canada raises its rate to 2.50% on 28 October — candlestick anatomy diagram
The parts of a candlestick: wick, body, open and close

Sources

  1. Bank of Canada: key interest rate (announcement dated 28 October 2026)

Common questions

What did the Bank of Canada decide on 28 October 2026?

It raised its target for the overnight rate by 25 basis points, to 2.50%.

What was the Bank of Canada rate before the October decision?

2.25%, which is the level the 2.50% target is 25 basis points above.

This article is for information only and is not financial advice. Trading forex and CFDs carries a high risk of losing money. Read the risk warning. Spotted an error? Tell the editors.

Discussions on this topic

Comments

Log in to join the discussion. Comments follow the community guidelines.

Log in to comment

Loading comments…