Economy · 13 d ago
Bank of Canada - Banque du Canada from Canada · CC BY 2.0 · Wikimedia Commons
Economists expect the Bank of Canada to raise rates next week
Key interest rate
2.25 %
The Bank of Canada's key rate has been 2.25 per cent since October 2025. A hike would be the first in more than three years.
Bank of Canada - Banque du Canada from Canada · CC BY 2.0 · Wikimedia Commons
Governor Tiff Macklem said the inflation outlook will be "quite a bit higher" than in July's forecast. Inflation was 3.1 per cent in September, mainly because of gas prices.
"The Bank of Canada is really trying to get ahead of higher inflation, higher underlying inflation, which we haven't materially seen yet, but to prevent it from happening."
— Randall Bartlett, Desjardins deputy chief economist
And us?
Oct
28
Wednesday
Ottawa
Economists at Scotiabank, Desjardins and BMO expect a 0.25-point hike, which would raise costs on variable-rate mortgages and some car, tuition and business loans. The decision comes on Oct 28.
