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This is an account of the deliberations of the Bank of Canada’s Governing Council leading to the monetary policy decision on October 28, 2026.

The Market Participants Survey results are based on questionnaire responses from about 25 financial market participants.

The Government and the Bank agree that monetary policy must work to promote the economic and financial well-being of Canadians. We also agree that the best way monetary policy can do this is by keeping inflation low, stable and predictable, thereby protecting Canadians from large increases in the cost of living.