# Bank of Canada raises rates for first time in more than three years

https://mins.news/en/item/119467

- Al Jazeera, 2026-10-28 16:44 UTC
- Economy
- Original: https://www.aljazeera.com/economy/2026/10/28/bank-of-canada-raises-interest-rates-for-the-first-time-in-three-years?traffic_source=rss

> The Bank of Canada raised its key rate by a quarter point to 2.5%, its first increase in more than three years, warning that further hikes may be needed as soaring energy costs stoke inflation. It raised its 2027 inflation and growth forecasts.

## Stories

- [Global Markets AI Anxiety and Oil Shock](https://mins.news/en/topic/global-markets-and-ai-oil-shock) — Markdown: https://mins.news/en/topic/global-markets-and-ai-oil-shock.md

## Related coverage

- [Canadian two-year yield hits two-year high after BoC rate hike](https://mins.news/en/item/119607) — Reuters, 2026-10-28
- [Bank of Canada raises rate to 2.5%, first hike since 2023](https://mins.news/en/video/119333) — Bloomberg Television, 2026-10-28
- [Bank of Canada expected to raise interest rate by 25 basis points as inflation edges up](https://mins.news/en/item/119104) — CBC News, 2026-10-28
- [Bank of Canada expected to raise key rate for first time in three years](https://mins.news/en/item/118885) — Reuters, 2026-10-28