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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.; @" x7 D4 @9 f  b
! f! S. Y/ M" W$ d- f6 K  v$ N
The global economic recovery is proceeding broadly in line with the Bank's projection in its+ Z. s2 {/ h+ h" W
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
+ n: J/ B0 A9 \solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing! O9 x1 `3 q, e1 r% R" U) `
challenges associated with sovereign and bank balance sheets will limit the pace of the European
8 o3 @0 X" @! g; Y2 brecovery and are a significant source of uncertainty to the global outlook. Robust demand from$ ?* R( s! \7 C
emerging-market economies is driving the underlying strength in commodity prices, which could
9 u$ M( y" P! e, W% Ebe further reinforced temporarily by supply shocks arising from recent geopolitical events./ h6 k- E1 j" @- j: Q
+ S& R: J* Z# }4 H: C4 T, |+ Y9 Q
The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of2 o# C% E7 C! s# L) p
the anticipated rebalancing of demand. While consumption growth remains strong, there are( T0 [! q8 y- g* C
signs that household spending is moving more in line with the growth in household incomes.$ Q- j* m, R- }0 S
Business investment continues to expand rapidly as companies take advantage of stimulative
2 Q6 w/ b0 _' y/ a; S8 gfinancial conditions and respond to competitive imperatives. There is early evidence of a
) G! d! m; Q( X, t( h! ]9 Rrecovery in net exports, supported by stronger U.S. activity and global demand for commodities.
7 U" f1 z5 G: R" Y: {6 J3 XHowever, the export sector continues to face considerable challenges from the cumulative effects! \* O$ B0 `0 A) x
of the persistent strength in the Canadian dollar and Canada's poor relative productivity# h5 n4 B7 b( i- x$ W
performance.: q2 z  Y, L8 w# |% `

2 T5 x; z! Z1 q, zWhile global inflationary pressures are rising, inflation in Canada has been consistent with the
+ n: {- \* u( U/ x6 o& L9 l* ]& ?Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
* r0 L% d: h9 d/ l$ Aconsiderable slack in the economy.
. A; i3 _. n+ h! w* c: O; \# T3 w7 P! q) z' a8 }+ l  i6 z
Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate+ \* x5 x: T: [2 D% f% N  o
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the' i* r/ |/ j0 @# Z: T& K  ^
2 per cent inflation target in an environment of significant excess supply in Canada. Any further. ]4 v6 O3 v2 d. f
reduction in monetary policy stimulus would need to be carefully considered.; ^  @- ?  \0 T& h- E7 I0 r; ^8 A
Information note:1 s) G9 H: ]& f; M

5 M$ D9 Z0 v1 l$ d1 mThe next scheduled date for announcing the overnight rate target is 12 April 2011.
理袁律师事务所
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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