Central banks RegionAmericas Impact Major
Bank of Canada to raise rates to 2.50% on October 28 and once again by end-March
What happened
A Reuters poll indicates the Bank of Canada will raise its policy rate to 2.50% on October 28 and then hike once more by end-March. This signals a continued tightening cycle ahead.
What it means for markets
The Canadian dollar is likely to strengthen as the market prices in these hikes, supporting the currency. The rate path suggests a hawkish stance, which could weigh on Canadian bonds yields. A shift in expectations would alter the outlook.
AssetExpectedMove since first report
Euro FXE Rate hikes support the currency as yields rise
▲ Up
-0.41% 103.53 (2026-10-22) → 103.11 (2026-10-30)
What to watch
- Bank of Canada decision on October 28
- Any change in the end-March rate forecast
Source timeline
- Reuters POLL Bank of Canada to raise rates to 2.50% on October 28 and once again by end-March