USD/CAD in focus as Bank of Canada raises rates by 25 bps: Oct 29, 2026
The Bank of Canada raised interest rates by 25 basis points in its October 2026 decision. The move was widely anticipated, with the market pricing a 78% chance of a hike while USDCAD traded in a neutral swing area ahead of the announcement. The decision came as the Federal Reserve held rates and the U.S. yield curve steepened.
Updated
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Headlines (9)
Carried over from earlier days
- Canadian Dollar weakens due to stronger US Dollar, lower oil pricesFXStreet
- Rate announcement to come at 9:45 (ET)bankofcanada.ca
- The full statement from the Bank of Canada rate decision for October 2026. Hikes by 25 basis pointsInvestingLive
- The USDCAD is trading in a neutral swing area ahead of the Bank of Canada rate decisionInvestingLive
- The market is pricing in a 78% chance of a Bank of Canada rate hikeInvestingLive
- BoC recap: Rates up... and another one on the cards?FXStreet
- Bank of Canada raises interest rates for the first time in three yearsAl Jazeera
- Bank of Canada tightens policy for first time in a yearcentralbanking.com
- investingLive Americas FX news wrap 28 Oct: Fed holds rates, yield curve steepens as Big Tech earnings divergeInvestingLive
Scheduled events
As of
| Event | Forecast | Currency |
|---|---|---|
| Thursday, October 29 | ||
| Advance GDP Price Index q/q | 3.2% | USD |
| Core PCE Price Index m/m | 0.3% | USD |
| Personal Spending m/m | 0.6% | USD |
| Unemployment Claims | 198K | USD |
| Advance GDP q/q | 3.2% | USD |
| Personal Income m/m | 0.3% | USD |
| Gov Council Member Gravelle Speaks | CAD | |
| Natural Gas Storage | 75B | USD |