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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.
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The global economic recovery is proceeding broadly in line with the Bank's projection in its
7 y, w! T2 J5 z, PJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
- h8 N9 ^6 }2 e/ `/ w4 Y. }/ K5 Gsolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
% l/ ?6 b7 Q, Ychallenges associated with sovereign and bank balance sheets will limit the pace of the European/ C; a- Z% a1 [' j* ]) ^+ x6 m, F
recovery and are a significant source of uncertainty to the global outlook. Robust demand from8 x6 S6 r- X% E
emerging-market economies is driving the underlying strength in commodity prices, which could
2 \9 \3 O; o6 F1 d1 m( ibe further reinforced temporarily by supply shocks arising from recent geopolitical events.
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* Q# b( u9 _. j7 ], x9 xThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of; ^& L1 T# G) v6 V) I+ P
the anticipated rebalancing of demand. While consumption growth remains strong, there are
% b* j: M8 {! U- l& L. f, ^) Isigns that household spending is moving more in line with the growth in household incomes.8 `  j$ S4 r' d2 c$ Z/ W& @! A
Business investment continues to expand rapidly as companies take advantage of stimulative# j8 j* a% S  G0 h) y
financial conditions and respond to competitive imperatives. There is early evidence of a, x, c, q- `! P8 S
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.9 k! m: h  y% y! d8 M; Y
However, the export sector continues to face considerable challenges from the cumulative effects2 g* ]% c/ |$ ~$ ?' A2 M! l9 s1 K, \* G" k
of the persistent strength in the Canadian dollar and Canada's poor relative productivity
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  ?2 f& d; ]4 f! X; K3 A. A: VWhile global inflationary pressures are rising, inflation in Canada has been consistent with the( E$ n- Y2 o0 J$ G! d7 h
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the0 w; V. S# P/ A
considerable slack in the economy.3 e- K' k; W& m

% E$ t+ Y7 o' @7 CReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
4 C2 J# ]( \7 Nat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
* J0 s/ ~% w  A) h* `2 per cent inflation target in an environment of significant excess supply in Canada. Any further( t  I/ r) R& D. ^
reduction in monetary policy stimulus would need to be carefully considered.
. F3 T. e* {- k8 N  n' aInformation note:
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$ n& y( q- s& H7 }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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