Interest rates
Bank of Canada raises the policy rate by 25 basis points to 2½%
The Bank of Canada today increased its target for the overnight rate by 25 basis points to 2.5%, with the Bank Rate at 2.75% and the deposit rate at 2.45%.
THE UPDATE
What the release covers
The Bank of Canada today increased its target for the overnight rate by 25 basis points to 2.5%, with the Bank Rate at 2.75% and the deposit rate at 2.45%.
This briefing refers to the release dated Oct 28, 2026. Check the original publication for its detailed figures, definitions, scope and any later corrections.
Read the original Bank of Canada release ↗CAVAIT CONTEXT
What to consider for your next decision
Central-bank announcements provide context for borrowing and cash-flow planning. A policy-rate announcement does not automatically determine the interest rate in your own loan agreement.
- Check whether your financing is fixed or variable and note renewal dates.
- Model the effect of different borrowing costs on cash flow.
- Review the actual loan terms before changing your financial plan.