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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
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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.
6 B/ X( c3 u* Y& S* I/ s" B+ U* V) u/ @8 b( L  v8 ~% R: Y
The global economic recovery is proceeding broadly in line with the Bank's projection in its# y; h7 W' H( M0 w
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is" u$ W$ d( ~: y; }: p9 X
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing+ K* c2 k2 ?  D$ F( b+ O
challenges associated with sovereign and bank balance sheets will limit the pace of the European
: O* K1 N/ F. q, y2 c; W$ E1 arecovery and are a significant source of uncertainty to the global outlook. Robust demand from
+ t9 r. E0 k: Femerging-market economies is driving the underlying strength in commodity prices, which could
% G8 e& a" U8 ^4 kbe further reinforced temporarily by supply shocks arising from recent geopolitical events.
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The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
  [/ y3 I; C- U- Ythe anticipated rebalancing of demand. While consumption growth remains strong, there are
7 q6 v0 R: z9 k. g/ Psigns that household spending is moving more in line with the growth in household incomes.
% v' t/ j" s9 c- ?! TBusiness investment continues to expand rapidly as companies take advantage of stimulative
6 _4 ~( g7 P- f- w, W, Z: H4 ^financial conditions and respond to competitive imperatives. There is early evidence of a7 H" C! G! b6 x8 A( T
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.# N3 Y  s; _% A/ u% E' v
However, the export sector continues to face considerable challenges from the cumulative effects5 N$ `0 Q# y7 T  s) `7 D; v
of the persistent strength in the Canadian dollar and Canada's poor relative productivity7 N# G7 E) ~1 B/ b' x
performance.
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While global inflationary pressures are rising, inflation in Canada has been consistent with the: }& B# G9 f& w$ `
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the# D% c/ M5 q+ }; L
considerable slack in the economy.
2 f0 j: J6 n0 ~6 v9 Y& J3 Y9 ~0 i0 ?( O
Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
2 d  h% O- K  nat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the9 q0 s) `0 B4 H4 }6 \
2 per cent inflation target in an environment of significant excess supply in Canada. Any further9 l+ e! o( X. P
reduction in monetary policy stimulus would need to be carefully considered.
# z, h+ U8 N2 a/ G" w: V/ r4 B+ nInformation note:+ |7 H# D( N4 o% Q. X* K

$ Q! V8 z; R" ?& W3 K% c- J' fThe 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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