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Posted On: October 28th 2026, 06:45 pm
BANK OF CANADA RATE UPDATE | October 28, 2026
The Bank of Canada has increased its key interest rate by 0.25% to 2.50%, marking its first rate hike since July 2023.
With stronger-than-expected economic growth and rising inflation driven by higher energy costs and U.S. tariffs, the Bank is taking steps to keep inflation under control.
Inflation is now projected to average 3% in 2027.
While further rate increases are possible, the Bank has signalled it will proceed cautiously.
What this could mean for Real Estate? Buyers who secured rate holds might be making moves in the next 90 days, absorbing some inventory.
#BankOfCanada #InterestRates #RealEstateMarket #REMAXVernon #VernonBC
The Bank of Canada has increased its key interest rate by 0.25% to 2.50%, marking its first rate hike since July 2023.
With stronger-than-expected economic growth and rising inflation driven by higher energy costs and U.S. tariffs, the Bank is taking steps to keep inflation under control.
Inflation is now projected to average 3% in 2027.
While further rate increases are possible, the Bank has signalled it will proceed cautiously.
What this could mean for Real Estate? Buyers who secured rate holds might be making moves in the next 90 days, absorbing some inventory.
#BankOfCanada #InterestRates #RealEstateMarket #REMAXVernon #VernonBC
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