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The Bank of Canada raises its policy interest rate by 25 basis points to 2.5%, its first increase since July

2026 Iran war fuel crisis — The Bank of Canada raises its policy interest rate by 25 basis points to 2.5%, its first increase since July 2023, citing persistent inflation driven partly by higher oil and gasol

Published October 28, 2026· Updated October 28, 2026·1 min read

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Context: 2026 Iran war fuel crisis.

The Bank of Canada raises its policy interest rate by 25 basis points to 2.5%, its first increase since July 2023, citing persistent inflation driven partly by higher oil and gasoline prices linked to the Iran war. [https://www.afp.com/en/canada-hikes-rates-contain-oil-price-surge-caused-iran-war (AFP)]

Event summary via Wikipedia Current Events (2026-10-28).