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Bank of Canada raises its policy rate to 2.5%, first hike since 2023
The Bank of Canada raised its policy rate by 25 basis points to 2.5% on October 28, 2026, and major banks lifted prime to 4.70%.
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Immigrant families carry more mortgage debt but show few signs of credit stress, StatCan finds
A Statistics Canada study released October 28, 2026, finds immigrant families' higher debt is mostly mortgage debt, with low use of payday loans.