The Bank of Canada today increased the overnight rate. Prime will increase to 4.70%.
At the seventh announcement of 2026 and the first time this year, the Bank of Canada today decided to increase the overnight rate by 25 basis points. Prime will move to 4.70%.
The next scheduled date for announcing the overnight rate target is December 9, 2026
https://www.bankofcanada.ca/2026/10/fad-press-release-2026-10-28/