{"id":667969,"date":"2026-10-28T16:50:08","date_gmt":"2026-10-28T16:50:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/667969\/"},"modified":"2026-10-28T16:50:08","modified_gmt":"2026-10-28T16:50:08","slug":"bank-of-canada-raises-key-interest-rate-to-2-5","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/667969\/","title":{"rendered":"Bank of Canada raises key interest rate to 2.5%"},"content":{"rendered":"<p>Canada&#8217;s central bank raised its key interest rate to 2.5% today, its first hike since 2023, citing rising oil prices driven by war in the Middle East.<\/p>\n<p>The Bank of Canada has maintained that the economy faces two competing pressures &#8211; growth is being hampered by President Donald Trump&#8217;s trade war, but inflation is rising due to the US conflict with Iran.<\/p>\n<p>The bank said today that Canadian businesses are &#8220;adapting&#8221; to the changing trade relationship with the US, suggesting growth could be stronger than initially expected.<\/p>\n<p>There is, however, no indication that energy-price inflation is set to ease, it added.<\/p>\n<p>&#8220;The conflict in the Middle East is now in its eighth month and there is no clear path to resolution,&#8221; the Bank of Canada said in a press release.<\/p>\n<p>The bank added that Canada&#8217;s economy still faces &#8220;considerable uncertainty,&#8221; largely owing to the volatility in the trade relationship with the US.<\/p>\n<p>Trump removed some tariffs on Canadian goods this month following a request from Maine Senator Susan Collins, who is in a tight re-election battle in a state that relies significantly on trade with Canada.<\/p>\n<p>But the president has threatened new levies on additional Canadian goods, and there is no indication that a comprehensive US-Canada trade deal is imminent.<\/p>\n","protected":false},"excerpt":{"rendered":"Canada&#8217;s central bank raised its key interest rate to 2.5% today, its first hike since 2023, citing rising&hellip;\n","protected":false},"author":2,"featured_media":667970,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[72,113,61,60],"class_list":["post-667969","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-ie","tag-ireland"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/667969","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=667969"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/667969\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/667970"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=667969"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=667969"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=667969"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}