# Bank of Canada maintains overnight rate target at 1 ¾ per cent - Bank of Canada

> The Bank of Canada kept its target overnight rate at 1.75 percent on December 5 and cited weaker oil prices, trade conflicts weighing on global demand, and reduced energy-sector activity. It noted slower momentum heading into the fourth quarter.

- Date: 2018-12-05 · published 2018-12-05T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/61780-bank-of-canada-maintains-overnight-rate-target-at-1-3-4-per-cent-bank-of-canada
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Slowing global demand and weaker Canadian energy activity point to softer economic growth, which can weigh on currency and commodity sentiment across North American markets.

## Read by commodity

- WTI: bearish ▼
- USDCAD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2019-01-09 | [Bank of Canada maintains overnight rate target at 1 ¾ per cent - Bank of Canada](https://feedsoft.ai/events/61325-bank-of-canada-maintains-overnight-rate-target-at-1-3-4-per-cent-bank-of-canada.md) | +4.5% | +8.1% |
| WTI | 2020-04-15 | [Bank of Canada maintains overnight rate target and unveils new market operations - Bank of Canada](https://feedsoft.ai/events/53864-bank-of-canada-maintains-overnight-rate-target-and-unveils-new-market.md) | -32.0% | +25.9% |
| WTI | 2017-01-18 | [C$ pares recent gains ahead of Bank of Canada rate decision](https://feedsoft.ai/events/73219-c-pares-recent-gains-ahead-of-bank-of-canada-rate-decision.md) | +0.4% | +1.4% |
| WTI | 2018-10-23 | [As Expected the Bank of Canada Raises it’s Benchmark Overnight Rate. - OFX (HK)](https://feedsoft.ai/events/62787-as-expected-the-bank-of-canada-raises-it-s-benchmark-overnight-rate-ofx-hk.md) | -3.2% | -17.6% |
| WTI | 2025-08-19 | [Canada’s annual inflation rate eases to 1.7 per cent in July, core measures stay firm - Grainews](https://feedsoft.ai/events/23560-canada-s-annual-inflation-rate-eases-to-1-7-per-cent-in-july-core-measures-stay.md) | +1.4% | +1.0% |

## Sources

- bankofcanada.ca: https://www.bankofcanada.ca/2018/12/fad-press-release-2018-12-05/

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