The Bank of Canada has raised its economic growth and inflation forecasts for the next two years. The bank increased its 2026 GDP growth projection from 0.7% to 1.0%, and its 2027 forecast from 1.8% to 2.0%. Inflation forecasts saw more significant increases, with 2026 and 2027 projections rising from 2.5% and 2.0% to 2.9% and 3.1%, respectively. Additionally, the Bank of Canada expects Brent crude oil to average around $100 per barrel in the fourth quarter, gradually declining to $75 by the end of 2028.