Central bank
Appears in 4 stories · Last updated Nov 9, 2026
Oversees the RTR
On November 9, customers of eight Canadian financial institutions gained the ability to send money that arrives in seconds, at any hour, any day of the year. Payments Canada switched on the Real-Time Rail (RTR), a national system that clears and settles payments instantly instead of over hours or days.
Updated 2 days ago
Raised the policy rate to 2.5% on October 28, the first increase since July 2023
Canada's unemployment rate rose to a six-month high in October, Economy News reported on November 6. The increase followed back-to-back job losses in August and September that erased the gains made earlier in 2026.
Keeps the 2% target; raised its policy rate to 2.5% as inflation rose
Canada's central bank will keep aiming for 2% inflation for another five years. On Nov. 5, the Bank of Canada and the federal government renewed the monetary policy framework, holding the target at the midpoint of a 1% to 3% range through the end of 2031.
Tightening policy while growth stalls
Canada's economy produced the same output in August as it did in July. The month before, output was flat too. Statistics Canada's advance estimate now points to a 0.1% contraction in September, and payrolls fell by 49,600 in August.
Updated Oct 30
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