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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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6 M0 J' }5 G6 \1 m/ TThe global economic recovery is proceeding broadly in line with the Bank's projection in its/ J9 q6 I( X+ n+ S; z  ?* N% S$ j, G" }
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
; a; @' ~$ I3 [0 A& `4 R$ U4 r9 D! usolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing- p- D! P. @# K1 C; x  i5 O9 V
challenges associated with sovereign and bank balance sheets will limit the pace of the European
* \, U, o0 D1 q  M3 Q: ]recovery and are a significant source of uncertainty to the global outlook. Robust demand from9 I' p# g$ O1 y: ~$ q9 V
emerging-market economies is driving the underlying strength in commodity prices, which could
# V; o# n- P3 D7 Z6 d2 R; mbe 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& B9 X/ J4 ^0 h; F3 u$ {; V
the anticipated rebalancing of demand. While consumption growth remains strong, there are) ~9 i( K) b' l" v8 |
signs that household spending is moving more in line with the growth in household incomes.
# L5 c$ ^6 k3 u0 BBusiness investment continues to expand rapidly as companies take advantage of stimulative& G9 ~: T# T4 _& B3 c5 l4 R) D
financial conditions and respond to competitive imperatives. There is early evidence of a( F" u5 z9 |; E2 w
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.) L$ X8 t" s3 D, q) c0 f0 p
However, the export sector continues to face considerable challenges from the cumulative effects
, ?' T! l6 }& G7 q+ [* Zof the persistent strength in the Canadian dollar and Canada's poor relative productivity6 l5 P6 @4 P/ W: o7 Y: g; J+ S
performance.
' @' I6 P1 x9 W6 A" C5 E* h4 E% f& m5 I9 m4 y6 g2 h" D& G
While global inflationary pressures are rising, inflation in Canada has been consistent with the
( L3 v& ^) |: I/ a) xBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
- K3 l1 R! S. ]' z9 N" I* H  Econsiderable slack in the economy.3 ^. U# G* i$ m$ s- `! I+ y* \

! m1 m! u" |* t+ ?1 TReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate) O3 l% \7 @. E+ s/ w  y
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the# |6 |1 a$ s5 C+ T7 W4 o- C
2 per cent inflation target in an environment of significant excess supply in Canada. Any further0 K* A" ^1 N- ?$ ^3 F9 X& E9 S
reduction in monetary policy stimulus would need to be carefully considered.
5 ?, F9 ~* Y: \1 RInformation note:4 b  a* I  {6 n$ V. z7 c
% l$ t: D2 }, t1 O$ c0 G8 f2 r, E
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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