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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.) q& s* @! g/ q& V, i+ t; s
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The global economic recovery is proceeding broadly in line with the Bank's projection in its& G% i! j  \7 ?, Y3 a$ q0 }
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is& I5 _9 ?  h; j9 ^
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
) C+ A) M8 o) {, H3 T3 a0 F) s) ?6 Q+ Xchallenges associated with sovereign and bank balance sheets will limit the pace of the European* K4 Y6 n: K/ o, _7 k
recovery and are a significant source of uncertainty to the global outlook. Robust demand from
5 j) h+ ^) Q0 W& W4 kemerging-market economies is driving the underlying strength in commodity prices, which could$ E* w$ w$ r' ]; g! B2 o
be further reinforced temporarily by supply shocks arising from recent geopolitical events.
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The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
% Y( [" B) B8 U& W( p) Z( gthe anticipated rebalancing of demand. While consumption growth remains strong, there are
% Q4 F2 t; {$ e2 ksigns that household spending is moving more in line with the growth in household incomes.+ v3 K7 \- X/ s  T, g0 ?: O# x" _
Business investment continues to expand rapidly as companies take advantage of stimulative
8 R  o% k! @9 _6 kfinancial conditions and respond to competitive imperatives. There is early evidence of a
, P! [+ D4 ?  O) Jrecovery in net exports, supported by stronger U.S. activity and global demand for commodities.6 z% v5 h" j3 Z8 O. W: n$ D/ a* |
However, the export sector continues to face considerable challenges from the cumulative effects
- P; f3 Y+ @: N" V. z( z4 H4 Iof the persistent strength in the Canadian dollar and Canada's poor relative productivity
% e; W. M: f, Nperformance.
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While global inflationary pressures are rising, inflation in Canada has been consistent with the
# e- c# k% h" x6 W) WBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the3 a: G1 }8 o( ^( s$ h
considerable slack in the economy.
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3 W! L6 T- I9 b: k) e4 p0 W* tReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
% _( j: D/ I8 o2 G% Hat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
, y4 O! `' ~! d* K* k6 [2 per cent inflation target in an environment of significant excess supply in Canada. Any further# G& L2 m3 `& T% ~& c+ S
reduction in monetary policy stimulus would need to be carefully considered.) I+ K# x/ W! [7 s3 Z5 X
Information note:$ y& b) Z6 c5 q4 J, Y' G
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The next scheduled date for announcing the overnight rate target is 12 April 2011.
大型搬家
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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