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External Deputy Governor Nicolas Vincent discusses the most critical areas to focus on to improve Canada's productivity, which would make the economy more resilient and raise everyone's standard of living.

This is an account of the deliberations of the Bank of Canada’s Governing Council leading to the monetary policy decision on October 29, 2025.

The Bank of Canada today reduced its target for the overnight rate by 25 basis points to 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%.