The Bank of Canada raised its key interest rate for the first time since July 2023.
Posted by Your World Tonight, Checked
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- Said
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Your World TonightOct 28, 2026
Multiple tier-1 and independent sources (Reuters, CBC, BNN Bloomberg) confirm the Bank of Canada raised its key rate by 25 basis points to 2.5% on October 28, 2026, the first hike since July 2023. The extracted claim matches the passage's wording and the sources' reporting, with no contradiction.
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What was said
… It was a job payment. It gives me that certainty, it gives me that peace of mind. You know, I'm managing that risk of monthly increases on what the bank had with the central bank now raising its key interest rate for the first time since July 2023 and possibly more rate hikes down the road, the Toronto condo owner feels relieved. We just need to get ahead of that and plan for our finance future, because it is uncertain. It's still uncertain today. …
Your World Tonight · · from the transcriptPost →What we found
Supports. Reuters reports the Bank of Canada hiked its key policy rate by 25 basis points to 2.5%, the first rate hike since July 2023.[1]
Supports. CBC reports the bank raised its benchmark rate a quarter-point to 2.5%, its first increase since July 2023, ending seven consecutive holds.[2]
Supports. BNN Bloomberg reports the policy rate was raised 25 basis points to 2.5%, the first hike since July 2023.[3]
Context. The increase was attributed to energy-driven inflation risks, and the bank signaled further hikes might be needed; the next decision is December 9.[1][2][3]
Sources
3 sources: 1 fact-checker, 2 not rated
- 1Bank of Canada raises key interest rate, says another hike possiblereuters.com · fact-checker · cited for: supports, context
- 2A chilly housing market already - Bank of Canada governor says rate hike to 2.5% was needed in face of persistent inflationcbc.ca · not rated · cited for: supports, context
- 3Bank of Canada raises interest rate as inflation projected to ...bnnbloomberg.ca · not rated · cited for: supports, context
Where this claim was made
Said in 1 published post
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