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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.
$ W# {5 _, k2 k" U9 j" {- \) S7 [0 `
; ~1 M! Z5 W; RThe global economic recovery is proceeding broadly in line with the Bank's projection in its- K* G* g8 x0 g( P) t
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
0 E, y3 G( @' h- fsolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing2 J2 F. t  m- o: }& k7 U; z# |
challenges associated with sovereign and bank balance sheets will limit the pace of the European( K! c6 j. ~4 A. d9 d0 [& {
recovery and are a significant source of uncertainty to the global outlook. Robust demand from
+ y; ?. k6 I: C( x, ?emerging-market economies is driving the underlying strength in commodity prices, which could
; N$ S) y! W0 y* t" obe further reinforced temporarily by supply shocks arising from recent geopolitical events.
. s/ l' B/ R( |7 y9 d# \- [+ v7 ^" M: i2 U; W
The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of( E7 e% W' d: ?8 o! R2 o
the anticipated rebalancing of demand. While consumption growth remains strong, there are
6 t4 R+ e8 Z' G/ l  Jsigns that household spending is moving more in line with the growth in household incomes.: q  R0 v/ X2 y* ~# l: f; B
Business investment continues to expand rapidly as companies take advantage of stimulative: P; M$ g3 t! G7 b
financial conditions and respond to competitive imperatives. There is early evidence of a
( B7 b5 T7 c2 ~+ K2 p) Zrecovery in net exports, supported by stronger U.S. activity and global demand for commodities.; ]" {, D, P8 Q; [( I# Z6 B
However, the export sector continues to face considerable challenges from the cumulative effects/ S6 E- c( L) _- }6 C' W$ o
of the persistent strength in the Canadian dollar and Canada's poor relative productivity. }/ p9 C, t5 S
performance.* A* Q* s& X! M0 _" c8 ]( r8 ^

2 V' W. m1 V5 O$ Z) MWhile global inflationary pressures are rising, inflation in Canada has been consistent with the- x# i! Q, V. }2 \4 u
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
* r! p% T" \% \# ^4 aconsiderable slack in the economy.) w+ K' Q6 m# {( G9 j

3 c# b# T$ w; x* w1 JReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
! t! |8 i, @5 z/ o! Z8 w- }& tat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the6 c/ }: N! [6 j! s6 _3 V9 Y, o0 N
2 per cent inflation target in an environment of significant excess supply in Canada. Any further6 M) @' L6 g4 ~+ W9 X9 y& W
reduction in monetary policy stimulus would need to be carefully considered.
! @4 W) H5 R( z) X1 I7 ^Information note:1 Z: A0 R0 N: k3 A: U
. M. Y$ t5 Q5 b6 v3 _& w2 s1 Y% A
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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