Economy
Bank of Canada raises key rate to 2.5% as energy costs lift inflation
Bank of Canada raised its key rate a quarter point to 2.5%, its first hike since July 2023, and lifted its 2027 inflation forecast to 3.1% from 2%.
interest rates
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The Bank of Canada raised its key interest rate by 25 basis points to 2.5% on 28 October 2026, its first increase since July 2023, Al Jazeera reported. Governor Tiff Macklem cited elevated energy costs and spillover risk, and the bank lifted its 2027 inflation forecast to 3.1%.
Bank of Canada raises key rate to 2.5% as energy costs lift inflation ↗ Economy
Fed holds rates at 3.75%–4% in final meeting before midterms
The Federal Reserve left its benchmark rate unchanged after September's first hike since 2023, with two of 12 members dissenting in favor of a quarter-point increase.
Markets
Waller: Fed Focused on Inflation, More Hikes Possible
Fed Governor Waller says policy will focus on inflation for now and he anticipates additional rate hikes if data meet expectations, after September's quarter-point increase.