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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.7 a! y2 r  u! M- K$ R# C1 z

, @" J8 n) |# e; l: ]$ KThe global economic recovery is proceeding broadly in line with the Bank's projection in its
& j( v9 Q  M6 bJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is% L% s! @* `+ s" ^, Q/ X
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
$ Z& z7 P- h" Cchallenges associated with sovereign and bank balance sheets will limit the pace of the European( m5 ~5 J& k% [
recovery and are a significant source of uncertainty to the global outlook. Robust demand from
; t% ^3 l! W) W' m" xemerging-market economies is driving the underlying strength in commodity prices, which could# k8 X: C% M* ~+ t& \
be further reinforced temporarily by supply shocks arising from recent geopolitical events.
0 L6 o: |( r' u" j" v  p. T7 e( u8 U, N3 x( {, E
The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of4 m3 m: x9 J7 p. h
the anticipated rebalancing of demand. While consumption growth remains strong, there are; S- [3 f6 t- o: L0 ]8 x! J: w
signs that household spending is moving more in line with the growth in household incomes.
' z; _* ?0 X# Q# o( ZBusiness investment continues to expand rapidly as companies take advantage of stimulative
( |7 m$ N( S$ x3 _0 c0 k& T. Qfinancial conditions and respond to competitive imperatives. There is early evidence of a. h/ y' s% W* {2 J0 C: f* i; R$ h
recovery in net exports, supported by stronger U.S. activity and global demand for commodities., [1 ]# U6 s4 r7 j8 g2 L
However, the export sector continues to face considerable challenges from the cumulative effects
' R; {! G. i. f. a; aof the persistent strength in the Canadian dollar and Canada's poor relative productivity& e2 v* P4 v6 b% w4 K: j. i/ D" n
performance.
  w+ n4 I* U& `* m* [" G% v4 ~) ?
3 P) U; y* P& v$ v+ q8 y" rWhile global inflationary pressures are rising, inflation in Canada has been consistent with the; l1 q- P' B0 o& L  B1 D
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the, j) \6 w! H/ K( f$ s) ], `, {5 L+ v
considerable slack in the economy., j! h  u1 P% u$ Z2 p. m" H( M

5 n# Y) P0 t9 P- T  t) q" FReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
+ ]! _5 R0 E! U. S& zat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
! `: I7 a, F4 V3 ]7 }: N6 [) |9 L  G2 per cent inflation target in an environment of significant excess supply in Canada. Any further
  E6 b; M' G; A/ O0 E+ @reduction in monetary policy stimulus would need to be carefully considered.
! z# o, y0 `2 t& \Information note:' q6 _1 d9 S2 E0 r/ h/ W3 o

7 ~" ^! D0 F( w" [3 l3 {# LThe 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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