Scotiabank Economics expects the Bank of Canada to raise its policy rate by 25 basis points on Oct. 28, as energy-driven inflation risks grow despite softer core inflation and weaker employment. Desjardins and BMO Capital Markets economists also favor a hike, and Reuters reported that Governor Tiff Macklem said the Bank expects to raise its inflation forecast. Scotiabank's call departs from its Sept. 9 outlook, which had listed an October increase only as a possibility. In an Oct. 19 note, Derek Holt wrote that the bank forecasts a 25 basis-point hike, while its Oct. 20 market snapshot implied 22 basis points of a possible 25-basis-point increase.
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Canadainterest ratesinflationUSDCAD
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Related tickers and likely impact
USD/CAD
▼ Likely negativeRelevance: medium
| Market | Currencies |
|---|---|
| Close on 10/21/2026 | 1.40486 |
| Change that session | -0.08% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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