Bank of Canada Mulled Later Timing for October Rate Cut, Deliberations Show

A cyclist rides past the Bank of Canada in Ottawa, on Sept. 17, 2025. The Canadian Press/Adrian Wyld

The Bank of Canada’s governing council was on the same page about the need to lower its benchmark interest rate last month—but the exact timing of the cut was up for debate.

The central bank on Wednesday released the summary of deliberations from its decision two weeks ago to lower the policy rate by a quarter point to 2.25 percent in its second consecutive cut.