Separate the signal from the story
The latest reviewed policy decision raised the target to 2.50%. What it means for an individual contract depends on the contract, lender and dates.
What is established
On October 28, 2026, the Bank of Canada raised its target for the overnight rate by 25 basis points to 2.50%. The previous reviewed target was 2.25%. The next scheduled announcement in the published calendar is December 9, 2026.
What is not established by that decision
It does not establish a current fixed mortgage, HELOC, GIC or savings offer. This site no longer presents policy-rate-plus-spread estimates as lender quotes. No current lender-price feed is represented by this page.
A useful response checklist
Find out whether your own product reprices, on what date and under which calculation. Revisit cash-flow assumptions before changing a plan. If your rate is fixed, check the renewal date and any early-exit costs before considering a switch.
- Save the lender’s rate-change notice and your agreement.
- Estimate the interest difference using the actual balance and rate movement.
- Ask a qualified professional about advice specific to your circumstances.
Forecasts need a label
Market expectations and economic forecasts can change. This page does not assign a probability to the next decision or recommend timing a mortgage, investment or purchase around it. The Bank’s own decision statement and Monetary Policy Report are the primary context.