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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.
; h7 l9 f# A# Y2 [1 p6 F9 e3 G
+ Q9 ]7 H$ F8 `% X8 d6 Z$ pThe global economic recovery is proceeding broadly in line with the Bank's projection in its
; P2 A+ r* `% r- W% ^" NJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is) X) V/ B. A7 t$ Q5 o9 L
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
7 |" p* h3 Q9 jchallenges associated with sovereign and bank balance sheets will limit the pace of the European/ r. Z. }& s; o: z$ i* X2 B
recovery and are a significant source of uncertainty to the global outlook. Robust demand from1 q  X7 N# T- S# r& D/ J1 ^
emerging-market economies is driving the underlying strength in commodity prices, which could
% v: z/ w: H- v! ?6 ~# h! g2 Cbe further reinforced temporarily by supply shocks arising from recent geopolitical events.
- u3 |! j5 }9 s$ ^
( l1 E. [' x+ |" ^5 S4 ~0 uThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of9 G2 {+ ^8 ?' s. r1 Z
the anticipated rebalancing of demand. While consumption growth remains strong, there are$ N$ @, P+ Y& G$ G" n) c
signs that household spending is moving more in line with the growth in household incomes.% Y' c" F3 y6 H+ q% v; q
Business investment continues to expand rapidly as companies take advantage of stimulative" p5 m# H: t% v8 g, ^' w
financial conditions and respond to competitive imperatives. There is early evidence of a( F4 ^: W! N% f2 c- l( N9 \! g
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.8 J) O; i1 Q3 b4 g$ C& F
However, the export sector continues to face considerable challenges from the cumulative effects
4 N4 N% K8 [; r6 @2 p% ]of the persistent strength in the Canadian dollar and Canada's poor relative productivity
! i$ ^; ^: n: y% _4 Vperformance.
1 A9 X: F+ P5 S  e$ L" Y$ K4 @) w1 E" B
While global inflationary pressures are rising, inflation in Canada has been consistent with the7 q' Z$ ^; [/ H( _1 G& N. J" ~# i
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the7 `, j/ _* \. \8 U1 V
considerable slack in the economy.+ d; \; O# L* ^9 r/ H' Z7 \7 B

/ y1 |4 J! c. F, |0 YReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
/ }! v3 v5 q8 ~9 xat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the% ~! i, H/ Y) f( n
2 per cent inflation target in an environment of significant excess supply in Canada. Any further5 g; w4 r; o( r$ k! y; z" V, p( o
reduction in monetary policy stimulus would need to be carefully considered.& ?+ X. k+ a: x' b
Information note:6 L! M1 V/ y+ H4 A3 g, `; M

& ^3 i! J+ j# B, P' Z8 ?4 BThe 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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