Bank of Canada Raises Rates to 2.5%: What It Means for Buyers, Sellers & Renters in Our Area
Wednesday Oct 28th, 2026
ShareThe Bank of Canada raised its key interest rate this morning by a quarter point, to 2.5%. It's the Bank's first increase since July 2023 and its first rate change of any kind in a year, after holding at 2.25% since last October. The reason is energy: higher oil prices tied to the war in the Middle East have kept headline inflation around 3% since April, and the Bank expects it to reach about 3.5% by year end. Core inflation is still close to the Bank's 2% target, but the Bank wants... [read more]
