According to CoinMeta, Fitch expects the Bank of Canada's benchmark policy rate to remain at 2.5% until 2028. This is the first interest rate hike by the bank since July 2023, marking the end of the interest rate cut cycle that began in June 2024. Fitch's rating indicates that although Canada's core inflation indicators cooled down in September, the central bank can no longer ignore the high overall inflation. If the uncertainties brought about by the Iran war continue and oil prices remain high, the risk of further interest rate hikes will increase.