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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.9 S  n) [" [) o" U) E

9 a  `* ?+ i2 l# }( A( c, S  g6 ~The global economic recovery is proceeding broadly in line with the Bank's projection in its
1 h+ j' D" M9 BJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
& U9 a" N9 R- e8 U( Q- Psolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing, w! s1 \$ c$ P. `) \2 Q5 Q
challenges associated with sovereign and bank balance sheets will limit the pace of the European, I6 R; Q/ i, M) |5 P. B
recovery and are a significant source of uncertainty to the global outlook. Robust demand from
( j5 D9 [3 R$ B' i7 Bemerging-market economies is driving the underlying strength in commodity prices, which could
- ]! d" r, J7 D! g3 ^! Z: W$ e: Pbe further reinforced temporarily by supply shocks arising from recent geopolitical events.. C9 F- r7 V% r- ~2 }/ P
* _$ C5 K, Z( t1 z9 V
The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
4 b( l0 \$ E( c  `' v/ h% Z+ P. h; fthe anticipated rebalancing of demand. While consumption growth remains strong, there are
" ?; D6 |6 E1 a5 @$ _# U, xsigns that household spending is moving more in line with the growth in household incomes.: P3 N$ Q' m, g% o
Business investment continues to expand rapidly as companies take advantage of stimulative
" w+ W* M. m. ?1 q+ n# y8 x8 f( Cfinancial conditions and respond to competitive imperatives. There is early evidence of a
  t6 \8 u5 b' Z: g+ @recovery in net exports, supported by stronger U.S. activity and global demand for commodities.
+ m2 g! B; Y% ?8 c. K) Q8 w0 mHowever, the export sector continues to face considerable challenges from the cumulative effects
9 {7 G' N  p# p& Uof the persistent strength in the Canadian dollar and Canada's poor relative productivity5 J  _7 v# }) w! k) y
performance.: Z3 i4 t% d5 Y$ e
- u+ J7 J+ S: u; I( x* e
While global inflationary pressures are rising, inflation in Canada has been consistent with the
+ b, }$ c6 N* OBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
! ]! {) d# |0 u2 o8 K* N' gconsiderable slack in the economy.
" n+ H/ c' a, r7 O6 Q0 Y$ R( }* F5 e( M, W3 F% O. u4 y
Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
/ K4 z: B% G! \) K6 X8 jat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
9 k+ L; h+ s+ H9 b2 per cent inflation target in an environment of significant excess supply in Canada. Any further  V: Y& v% o3 g  Z) _
reduction in monetary policy stimulus would need to be carefully considered.
9 ?/ c9 `# {# P* t% l9 ]! `. L: B" JInformation note:- O2 H5 X9 @+ w" B( v

/ ~' q! R7 F! h* n9 VThe 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.
理袁律师事务所
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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