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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.# G' [$ g6 R9 k6 P  ~, `

: |( S9 S- {1 x% \+ XThe global economic recovery is proceeding broadly in line with the Bank's projection in its
" I$ O7 ~1 \- K# J1 s1 o. Z* bJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
: x% x5 j+ T8 x7 d$ Fsolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing! z7 h" x* `. E8 s# N) b
challenges associated with sovereign and bank balance sheets will limit the pace of the European
8 a/ ]0 H2 n1 ]! I4 i$ Drecovery and are a significant source of uncertainty to the global outlook. Robust demand from
! N, W5 ^! F1 x7 l, Xemerging-market economies is driving the underlying strength in commodity prices, which could
( f- t  o" v! \; Fbe further reinforced temporarily by supply shocks arising from recent geopolitical events.2 K9 l* A; r  Q, @* l

. s$ G2 d# H5 q( {2 R* mThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
1 C; _, [( s4 D4 Kthe anticipated rebalancing of demand. While consumption growth remains strong, there are# W! X4 N- Q$ w8 f' _$ C
signs that household spending is moving more in line with the growth in household incomes.
2 {. H& ~7 S3 bBusiness investment continues to expand rapidly as companies take advantage of stimulative
  V! F& e: P3 q! h  qfinancial conditions and respond to competitive imperatives. There is early evidence of a) M- M+ k/ }1 `* A. [* F: T
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.
( E9 _! Q; G* eHowever, the export sector continues to face considerable challenges from the cumulative effects
! ?1 q! R$ x8 L+ f+ @) Fof the persistent strength in the Canadian dollar and Canada's poor relative productivity; x% Z' ^3 G7 f6 K
performance.& z' H- k# E# Q1 w8 H& N

! J' y" d' w' a' aWhile global inflationary pressures are rising, inflation in Canada has been consistent with the$ s: |0 M$ Z) E& q
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
1 S/ V" \; m3 k  A- a  ~6 s, m  tconsiderable slack in the economy.; U% k/ X7 K5 V& [( \3 R
1 _; r, C' N- ?, ]
Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
3 C1 g0 V7 J- Q# B; E9 d2 E" Sat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the% i% e# r& L" S8 S0 v" q2 ~
2 per cent inflation target in an environment of significant excess supply in Canada. Any further
8 A3 T1 z! w  ?reduction in monetary policy stimulus would need to be carefully considered.. g  ^' ?. O! r, O
Information note:, F: l% n5 t9 p  `3 m1 C- w( \
# r$ W8 ~! B0 H& o8 v: N, B
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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