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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.7 d2 w9 R1 v7 a7 U* y6 Y8 W
8 E+ ^0 d2 J" W" u# B  F
The global economic recovery is proceeding broadly in line with the Bank's projection in its* H5 z6 }3 D# ?! ~4 O
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
% b6 P  w7 B. Y( Lsolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing2 `2 U: _1 E  f1 P) p
challenges associated with sovereign and bank balance sheets will limit the pace of the European/ M4 T0 y+ }( _- |% l4 u, o
recovery and are a significant source of uncertainty to the global outlook. Robust demand from
  }  W& B$ C4 T4 w7 temerging-market economies is driving the underlying strength in commodity prices, which could
) s' W- n/ {) G. }, zbe further reinforced temporarily by supply shocks arising from recent geopolitical events.
7 O  L- s: U2 u, }; H' d3 @* Z4 i' g! u0 ?
The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of/ f5 p3 r/ r- q
the anticipated rebalancing of demand. While consumption growth remains strong, there are
, Y) n+ m& x$ t7 _+ h7 zsigns that household spending is moving more in line with the growth in household incomes.
+ C7 a0 u3 ]% e: p2 \Business investment continues to expand rapidly as companies take advantage of stimulative
$ w3 u5 Y( y& E6 M* N/ Q  m# mfinancial conditions and respond to competitive imperatives. There is early evidence of a
$ |, [: c1 ]6 Y8 x' trecovery in net exports, supported by stronger U.S. activity and global demand for commodities.
& b  A& j3 }5 p% ~; z0 q/ nHowever, the export sector continues to face considerable challenges from the cumulative effects
6 F% {; k* Q: C: Mof the persistent strength in the Canadian dollar and Canada's poor relative productivity" ~- W5 j. ~) }, i$ y: N6 o
performance.
9 x2 g! A$ I5 `/ \; N
  a& j5 m9 D- [4 j+ y7 yWhile global inflationary pressures are rising, inflation in Canada has been consistent with the
2 h) O& |1 T: I1 `' {3 X8 ]Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the7 t* J5 H# D5 u& R7 F# X
considerable slack in the economy.
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) s. D. j! F' Q3 _' B+ I3 b% z# Q: sReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate5 Y9 ], r2 d" L3 i
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
" [& X& @4 ?$ V& B; Z  y/ ^2 per cent inflation target in an environment of significant excess supply in Canada. Any further
: ?8 N! w1 C5 }' Greduction in monetary policy stimulus would need to be carefully considered.9 g- x6 B7 o8 n6 t6 S4 Q
Information note:
2 d4 g+ o" _: \' ~
: ]1 u# M1 e! n- DThe 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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