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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.
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The global economic recovery is proceeding broadly in line with the Bank's projection in its
5 M$ ?6 y4 ^* O3 l6 J/ g. DJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
3 q5 m- r9 a( M$ O) ]) o8 T# `3 y7 asolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
& ]" d* e: a- E* |/ Nchallenges associated with sovereign and bank balance sheets will limit the pace of the European
; \) A+ h2 q" T8 N7 K: Krecovery and are a significant source of uncertainty to the global outlook. Robust demand from- n! S: {( K9 [& a, h
emerging-market economies is driving the underlying strength in commodity prices, which could5 s; `5 d- t( j  B  ?; Q0 l+ G- K0 W7 b
be further reinforced temporarily by supply shocks arising from recent geopolitical events.5 T/ i5 N% l- |: v9 X

+ h' L3 q2 W1 U9 R! X* Z9 |5 nThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of5 ~# t$ _9 i  g" R4 N
the anticipated rebalancing of demand. While consumption growth remains strong, there are$ }9 t, z# \5 W& [
signs that household spending is moving more in line with the growth in household incomes.
4 {  V. f+ W2 t" R6 i+ JBusiness investment continues to expand rapidly as companies take advantage of stimulative
" J$ C" t# v! K" a4 zfinancial conditions and respond to competitive imperatives. There is early evidence of a
" W5 G; \1 O5 C& P/ ?. B% D; L+ Qrecovery in net exports, supported by stronger U.S. activity and global demand for commodities.
2 P# f8 u  I# h# R( |( b  vHowever, the export sector continues to face considerable challenges from the cumulative effects0 ~$ {, R# V  h* x' j, P/ m4 t
of the persistent strength in the Canadian dollar and Canada's poor relative productivity
: j9 `, H- z8 O+ I+ q& I1 yperformance.9 P! n5 Q0 G) u2 P
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While global inflationary pressures are rising, inflation in Canada has been consistent with the* d. O8 M. [) \; _5 `  j  k
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
+ Z+ B3 ?9 [4 G9 \) J- z' R3 M* mconsiderable slack in the economy.: y6 F/ F2 E" v6 }

4 I% A6 r: ?/ U( GReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate3 o, c1 ^. H: a) c; d0 p9 Z4 {
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
# m; w$ I) o+ g" T  }# X2 per cent inflation target in an environment of significant excess supply in Canada. Any further1 u2 r( `$ }7 y2 A
reduction in monetary policy stimulus would need to be carefully considered.
' F; [, y$ B8 b$ G! Y6 X! E- EInformation note:0 N- z5 ^* |' z9 I5 p

6 M5 W4 N; T0 D2 k1 UThe 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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