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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) r- d7 ~9 P% r8 D' _
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
! F3 e1 ?% w8 H5 @2 @: m/ n/ Asolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
. E( w. X# H2 g- ~challenges associated with sovereign and bank balance sheets will limit the pace of the European: N+ G3 M. T1 @* B! }- Q0 Y
recovery and are a significant source of uncertainty to the global outlook. Robust demand from* |5 f9 U- H3 u$ m) T
emerging-market economies is driving the underlying strength in commodity prices, which could
! {( r! @1 h3 a  Jbe further reinforced temporarily by supply shocks arising from recent geopolitical events.3 p7 o4 D+ j. x, d7 `1 s
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The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of& q+ J' }& W4 I; u1 B
the anticipated rebalancing of demand. While consumption growth remains strong, there are( E2 f6 m7 R" j0 D: @) S3 m
signs that household spending is moving more in line with the growth in household incomes.  I; Y# P" E7 r8 \3 `! G
Business investment continues to expand rapidly as companies take advantage of stimulative
/ o' T+ b! n7 @) wfinancial conditions and respond to competitive imperatives. There is early evidence of a* t3 M; J$ }, m8 R% a
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.# }8 w" d2 ^/ l+ X0 I4 r
However, the export sector continues to face considerable challenges from the cumulative effects
  K4 K* z+ R/ v6 M+ X4 qof the persistent strength in the Canadian dollar and Canada's poor relative productivity
3 F. m# N. B7 D1 Y  k  O. Q4 wperformance.
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) [) P) i8 n) D, t& XWhile global inflationary pressures are rising, inflation in Canada has been consistent with the
; e' h; U: A# p+ o% D8 t+ n5 X0 ^Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
; ~, k" `8 g- {7 F' ?considerable slack in the economy.+ {" t, w' `9 H+ N, w1 X8 Z6 B1 z
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Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
) o, ~6 b( s# kat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the" U" M' ^3 \* `( Y. K; L" N+ N
2 per cent inflation target in an environment of significant excess supply in Canada. Any further
' m& R: C; t2 Y( E# s7 Nreduction in monetary policy stimulus would need to be carefully considered.* Z" H. K! q7 n3 r5 e2 n: R3 J4 _- k
Information note:# W" S* x4 H' b7 [2 _3 w0 y9 `  B

" _* l& q" t; }8 G3 yThe 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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