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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.- _5 l3 i( S" J/ `6 g& _
# b3 c' z& f, i" ~9 p' l2 j
The global economic recovery is proceeding broadly in line with the Bank's projection in its1 H4 Q! G! n) ^0 J, |6 S
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
- I! S* a) U% d1 Lsolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing/ _( [2 ^3 U, u, M$ D4 S
challenges associated with sovereign and bank balance sheets will limit the pace of the European; I( M9 S8 M5 o, l/ R$ t
recovery and are a significant source of uncertainty to the global outlook. Robust demand from
& w9 p9 _. g: oemerging-market economies is driving the underlying strength in commodity prices, which could
' l" M  ~) _# f$ |# j1 Jbe further reinforced temporarily by supply shocks arising from recent geopolitical events.
9 p# e$ L. q- d  H. r* K: w9 v
8 d% N( Y6 t+ Y4 }  p' s; D/ ~The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
& A( c& j( B6 z& s3 cthe anticipated rebalancing of demand. While consumption growth remains strong, there are
+ @1 i  F: K% ^6 Lsigns that household spending is moving more in line with the growth in household incomes." m5 r8 L" `2 Q' Q
Business investment continues to expand rapidly as companies take advantage of stimulative, t9 t7 R: q6 I9 e
financial conditions and respond to competitive imperatives. There is early evidence of a3 z' t7 q: ?4 F  z# i, \
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.! \$ Q" N% Y- w1 b& N$ u* t8 ^/ P3 L
However, the export sector continues to face considerable challenges from the cumulative effects
% O7 ?: f$ d! Z; Sof the persistent strength in the Canadian dollar and Canada's poor relative productivity
9 B( D; w) ]4 R$ f, Aperformance.
8 n4 g8 M1 v7 V- W  G4 i
$ q) C3 f6 J0 G0 W* o" VWhile global inflationary pressures are rising, inflation in Canada has been consistent with the
# I9 i4 W2 Z' X; g( iBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
9 W8 X6 u0 i) R+ v3 j# Q$ rconsiderable slack in the economy.
, L: d! B* `3 S. |- e9 b0 Z  X* ?6 u  R  K# T$ v6 d" k7 F2 E9 U
Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
. a: m* R) C1 N. s* E$ a: K, nat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the% {$ K& K% ]$ H9 g
2 per cent inflation target in an environment of significant excess supply in Canada. Any further
5 o; m5 `0 I5 g) Q0 sreduction in monetary policy stimulus would need to be carefully considered.
+ h& @- q, L' oInformation note:+ T7 s  U& d: r( U9 K

/ `: l) W: r9 \) N- NThe 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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