Bank of Canada raises benchmark interest rate to 2.5% amid inflation concerns
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Bank of Canada, Governor Tiff Macklem
Ottawa, Canada
October 28, 2026
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COMPAMIR Editorial Team
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Read our editorial policy- Earlier version 110/28/2026, 10:11:10 PM
The Bank of Canada raised its benchmark interest rate by 0.25 percentage points to 2.5%. The hike aims to prevent high energy prices from fueling generalized inflation. The bank revised its inflation and economic growth forecasts upward for the coming years.
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