Macro Finance
Bank of Canada Raises Interest Rates to 2.5%, First Hike Since 2023
Bloomberg Markets·October 28, 2026·1 min read
The Bank of Canada raised its benchmark overnight rate by 25 basis points to 2.5% on Wednesday, the first hike since July 2023. Governor Tiff Macklem said the move aims to reduce inflation risks from higher energy prices. The decision marks a shift after a prolonged pause, signaling concern over energy-driven price pressures.
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