# Savers get a raise as the Bank of Canada turns hawkish

> The Bank of Canada raised its policy rate by a quarter point to 2.5% on October 28, its first increase since 2023. Savings and GIC rates have risen in response, and firms plan to pass higher energy costs on to customers. Weaker third-quarter growth and the Democratic midterm win have softened the case for further hikes.

- Date: 2026-11-04 · published 2026-11-05T00:09:19.310Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/80677-savers-get-a-raise-as-the-bank-of-canada-turns-hawkish
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Higher Canadian rates raise financing costs for feedlots, feed mills and farms, and a firmer CAD can affect canola and meal export competitiveness. The effect on feed prices is indirect.

## Read by commodity

- USDCAD: neutral

## Sources

- theglobeandmail.com: https://www.theglobeandmail.com/investing/personal-finance/article-savers-get-a-raise-as-the-bank-of-canada-turns-hawkish/

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