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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.8 p# ?. G- E$ E5 \- J# K7 g8 W
- X% J: C$ C( n' x8 X3 U+ O
The global economic recovery is proceeding broadly in line with the Bank's projection in its
3 s! K5 y$ j  |9 e4 uJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is/ F4 E7 h) P( l$ _# z! @5 V( o
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
, ]3 H% W+ _) Dchallenges associated with sovereign and bank balance sheets will limit the pace of the European, O( f+ h( q9 [6 g# k6 ]; S
recovery and are a significant source of uncertainty to the global outlook. Robust demand from7 M- a$ f/ R9 X, E! d1 g% `6 O. k
emerging-market economies is driving the underlying strength in commodity prices, which could+ I( X7 @8 A+ I  Y3 s9 q1 N( r
be further reinforced temporarily by supply shocks arising from recent geopolitical events., Z( u1 C% l( I0 k' F0 I0 J% ^) [" G  }
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The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
; l6 r# I! Y- U7 }6 Vthe anticipated rebalancing of demand. While consumption growth remains strong, there are' v6 I8 Z- O5 T6 ~/ l. z0 J; P
signs that household spending is moving more in line with the growth in household incomes.7 F9 s0 }: L! u
Business investment continues to expand rapidly as companies take advantage of stimulative
" c8 S2 e8 {1 hfinancial conditions and respond to competitive imperatives. There is early evidence of a
8 o, ]! _: ?4 J- j& a4 A5 rrecovery in net exports, supported by stronger U.S. activity and global demand for commodities.
5 y" h8 p1 |% W5 ~2 \$ KHowever, the export sector continues to face considerable challenges from the cumulative effects
8 U' Y. z! s3 ]1 d8 K1 y, C; fof the persistent strength in the Canadian dollar and Canada's poor relative productivity# C& `* |2 b5 L
performance.! y5 L) n! u7 r$ }  X1 }. ~

6 S' ~! Q1 t8 ^. X, d# pWhile global inflationary pressures are rising, inflation in Canada has been consistent with the2 o. v  o' G  ^( l. R- G' v
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
- S! c; Y0 R+ Q6 Z4 h, aconsiderable slack in the economy.
: n3 s- f) B0 _( [6 t1 C+ _$ j  ^& ?% r0 ^' C3 j. ?; L, S
Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
2 y! S1 [4 J: }# Z. x  W. sat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
  I+ E( z$ O7 d* x2 per cent inflation target in an environment of significant excess supply in Canada. Any further
, J! P! J* M/ A$ p* Treduction in monetary policy stimulus would need to be carefully considered.
7 a7 d( o  a) ]/ U9 T% z# WInformation note:
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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.
大型搬家
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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