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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.
! H" n2 o, F: x% E( B$ y( Q: {  I+ I) C# r
The global economic recovery is proceeding broadly in line with the Bank's projection in its
; W1 ^& z7 w: }, f$ jJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
( ?, p8 B8 W( L, U% bsolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
" [* e: n' p) [0 H9 v: W% V3 Jchallenges associated with sovereign and bank balance sheets will limit the pace of the European
1 S* J% ~+ W5 precovery and are a significant source of uncertainty to the global outlook. Robust demand from5 s1 ?! O! e/ J% r( D
emerging-market economies is driving the underlying strength in commodity prices, which could) j2 `8 A( }$ M4 j5 ?
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' G2 |! d# u+ e& W( j
the anticipated rebalancing of demand. While consumption growth remains strong, there are
0 p; y7 @3 b, E5 P/ {* _+ `' Wsigns that household spending is moving more in line with the growth in household incomes.
& t" H$ A) `6 v4 C5 Z: V8 S3 xBusiness investment continues to expand rapidly as companies take advantage of stimulative1 A) X$ y. D9 T! J5 K' E& {8 j
financial conditions and respond to competitive imperatives. There is early evidence of a. d' G0 G2 n5 ]: M
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.
7 U! X8 p! T2 {6 w; `+ ]. Z% IHowever, the export sector continues to face considerable challenges from the cumulative effects6 Z2 D: w& w  {3 C; @
of the persistent strength in the Canadian dollar and Canada's poor relative productivity! i/ x* |# q$ {2 A
performance.
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While global inflationary pressures are rising, inflation in Canada has been consistent with the* K! k0 t; c9 Z/ g; r4 F) ~
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
6 b0 H* s4 Y3 v" Dconsiderable slack in the economy.
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) P+ u. z5 U! e. A) X# |, r! [Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate9 H# q: n  D3 q$ d4 t0 Y) [+ W/ v1 Q
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the/ e# G% A% J8 z: o6 U) A- ~% b
2 per cent inflation target in an environment of significant excess supply in Canada. Any further+ m5 l" X  Q; X. z$ [
reduction in monetary policy stimulus would need to be carefully considered.
4 B3 f5 L% i" R6 E' NInformation note:2 Y8 l: j; Q. X2 U+ Z  w* l) ?

2 A# a- J! `# k/ 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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