# The Bank of Canada Raises Its Rate to 2.50 Percent Weeks After Canada Lost 68,000 Jobs in September and Unemployment Rose to 6.5 Percent in the Second Straight Monthly Fall | ProfiloPolitics

> The Bank of Canada raised its policy rate to 2.50%, its first increase since 2023, to counter high energy prices. Canada lost 68,300 jobs in September and unemployment rose to 6.5%, with the public sector shrinking sharply.

- Date: 2026-11-01 · published 2026-11-01T06:10:29.656Z
- Category: macro · region Canada · magnitude medium
- Page: https://feedsoft.ai/events/4249-the-bank-of-canada-raises-its-rate-to-2-50-percent-weeks-after-canada-lost-68
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Rate hikes into a weakening labor market can slow Canadian demand and weigh on CAD, while energy-driven inflation keeps input and freight costs elevated for feed buyers.

## Read by commodity

- WTI: bullish ▲
- USDCAD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2023-09-22 | [Rate hike bets lift Canadian dollar to second straight weekly gain - The Globe and Mail](https://feedsoft.ai/events/34334-rate-hike-bets-lift-canadian-dollar-to-second-straight-weekly-gain-the-globe.md) | +2.3% | -0.3% |
| WTI | 2020-12-09 | [Bank of Canada will maintain current level of policy rate until inflation objective is achieved, continues its quantitative easing program - Bank of Canada](https://feedsoft.ai/events/49873-bank-of-canada-will-maintain-current-level-of-policy-rate-until-inflation.md) | +4.3% | +11.1% |
| WTI | 2021-12-03 | [Canadian dollar rebounds from 10-week low after jobs surge - The Globe and Mail](https://feedsoft.ai/events/43857-canadian-dollar-rebounds-from-10-week-low-after-jobs-surge-the-globe-and-mail.md) | +6.5% | +13.1% |
| WTI | 2020-11-24 | [Canadian dollar climbs to 2-week high as Biden transition boosts Wall Street - The Globe and Mail](https://feedsoft.ai/events/50385-canadian-dollar-climbs-to-2-week-high-as-biden-transition-boosts-wall-street.md) | +3.7% | +9.5% |
| WTI | 2026-09-17 | [Investors are increasing their bets on the Thai baht weakening to its highest level in two months, affected by high oil prices and a stronger dollar. - Money & Banking Magazine](https://feedsoft.ai/events/17735-investors-are-increasing-their-bets-on-the-thai-baht-weakening-to-its-highest.md) | -9.9% | -7.1% |

## Sources

- profilopolitics.com: https://profilopolitics.com/article/the-bank-of-canada-raises-its-rate-to-250-percent-weeks-after-canada-lost-68000-jobs-in-september-and-unemployment-rose-to-65-percent-in-the-second-straight-monthly-fall

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.