The Bank of Canada’s interest rate decision reading was published at 2.5%, in line with the market forecast of 2.5%. The figure was released on 28 October 2026 at 13:45 GMT and is the central bank’s policy rate.
Comparison With Previous Period
Against the previous period, the reading was higher, up from 2.25%. The rise means the policy rate is now a quarter of a percentage point above where it stood before this release, a change that affects borrowing costs across the Canadian economy.
The release therefore sits at two different points of comparison: it matched expectations exactly, while also marking an increase on the earlier reading.
What the Number Measures
The interest rate decision figure is the rate the Bank of Canada sets to guide short-term borrowing costs, which lenders use as a reference for mortgages, loans and savings products. A higher figure generally means more expensive credit.
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Source: Bank of Canada
