# Bank of Canada caution knocks almost a cent off the loonie; bets on January hike plummet | Financial Post

> The Bank of Canada held its overnight rate at 1.75 percent on December 5 and signaled that future hikes could be more gradual. The Canadian dollar fell almost a cent, and markets sharply cut bets on a January rate increase.

- Date: 2018-12-05 · published 2018-12-05T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/61779-bank-of-canada-caution-knocks-almost-a-cent-off-the-loonie-bets-on-january-hike
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Expectations of slower Canadian rate hikes weaken the loonie, which supports Canadian export competitiveness for grains and oilseeds and dampens the currency-driven cost of imports.

## Read by commodity

- USDCAD: bullish ▲

## Sources

- financialpost.com: https://financialpost.com/news/economy/update-2-bank-of-canada-more-cautious-on-pace-of-rate-hikes-c-plunges

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.