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MARCH 1st, 2011 -BANK OF CANADA- NO CHANGE FOR THE OVERNIGHT RATE(ZT)

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鲜花(65) 鸡蛋(0)
发表于 2011-3-1 09:07 | 显示全部楼层 |阅读模式
老杨团队,追求完美;客户至上,服务到位!
OTTAWA - The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.
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The global economic recovery is proceeding broadly in line with the Bank's projection in its
; x. |- L+ ?! X5 HJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is( P5 B4 }% y7 ?0 C7 `
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing( y& Q9 \, S/ z4 b" V* y
challenges associated with sovereign and bank balance sheets will limit the pace of the European/ [! F, G" U0 A
recovery and are a significant source of uncertainty to the global outlook. Robust demand from
) H/ u8 g* X/ n6 cemerging-market economies is driving the underlying strength in commodity prices, which could
7 r8 ^3 i$ v0 m1 Ube further reinforced temporarily by supply shocks arising from recent geopolitical events.
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5 c( G! D0 c6 D- VThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of3 ]# Z: K1 ]% {9 z# p
the anticipated rebalancing of demand. While consumption growth remains strong, there are, j/ R, S/ o; l) l4 n  O& L) ?
signs that household spending is moving more in line with the growth in household incomes.
' s0 c# Y4 ~7 h. ~Business investment continues to expand rapidly as companies take advantage of stimulative
2 z2 s% }* r' ?financial conditions and respond to competitive imperatives. There is early evidence of a2 `/ Y3 K& w3 {
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.
- ^$ N; L9 H( F' R% Q4 `However, the export sector continues to face considerable challenges from the cumulative effects$ g6 t( Y; h/ N
of the persistent strength in the Canadian dollar and Canada's poor relative productivity" t' @2 x: y) `
performance.
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" J# _0 I$ _; t+ OWhile global inflationary pressures are rising, inflation in Canada has been consistent with the" R7 T& |" r2 W* H
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the8 G2 E  W0 X+ E! [8 b5 `
considerable slack in the economy.
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Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate( c* J  a1 Q- z) [- K+ k
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
7 T# S$ y; h" d; y; o, q2 per cent inflation target in an environment of significant excess supply in Canada. Any further
9 Z( G3 A& _' `- `reduction in monetary policy stimulus would need to be carefully considered.
! j! K- ^, F' g  w7 JInformation note:/ m1 q3 O. u/ U4 W& e3 u
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The next scheduled date for announcing the overnight rate target is 12 April 2011.
鲜花(1181) 鸡蛋(48)
发表于 2011-3-1 09:32 | 显示全部楼层
It won't be changed for a long time.
鲜花(0) 鸡蛋(0)
发表于 2011-3-1 11:37 | 显示全部楼层
but banks will raise mortgage rate, for sure.
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