Nineteen of 34 economists in a Reuters survey expect the Bank of Canada to raise its overnight rate by a quarter point to 2.50% on October 28.

The October 21–23 poll marks a shift from the previous survey, when 80% expected the rate to remain at 2.25% through year-end. Among respondents answering the longer-term question, 16 of 29 forecast another increase by March 2027.

These are economists’ forecasts; the bank has not announced the October 28 decision. Reuters reports that dissenting respondents cited economic weakness and limited inflation pressure.

Source: Reuters survey report, October 23.

Editorial illustration.