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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. Z( q. z' p9 D! }7 v, H  M5 _
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
8 e: J# `8 |# vsolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing# }! R# f( c1 i! e- h# L
challenges associated with sovereign and bank balance sheets will limit the pace of the European  r! Q( P7 J! J) [, y
recovery and are a significant source of uncertainty to the global outlook. Robust demand from7 g. C/ V8 @1 I& a& L, x
emerging-market economies is driving the underlying strength in commodity prices, which could
/ W: U( y$ N5 S" `. ?* gbe 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 of3 v( i/ i& i8 n% j3 f, i
the anticipated rebalancing of demand. While consumption growth remains strong, there are! J2 D" f0 h6 N/ }6 g
signs that household spending is moving more in line with the growth in household incomes.2 d4 O. x9 Q0 h6 X
Business investment continues to expand rapidly as companies take advantage of stimulative$ q) E! ^8 h2 n* ^" J
financial conditions and respond to competitive imperatives. There is early evidence of a4 W; g( H% J+ |- h5 |/ N
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.% ~1 E& c% t6 }% J* Y
However, the export sector continues to face considerable challenges from the cumulative effects: Z1 g2 t) {8 K& \7 W+ K
of the persistent strength in the Canadian dollar and Canada's poor relative productivity
' q! t* D) \$ v5 x% F2 q  o$ Fperformance.
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While global inflationary pressures are rising, inflation in Canada has been consistent with the
4 {+ Z8 }+ [' Y4 w, gBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
& V) s2 v* N; x5 r  ]2 V* u8 pconsiderable slack in the economy.
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Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
9 w6 s; L% a  a5 kat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
! n6 W! n6 j$ V! M7 @' j- x2 per cent inflation target in an environment of significant excess supply in Canada. Any further! i7 a2 g$ R' _2 }' S* I
reduction in monetary policy stimulus would need to be carefully considered.8 }; X8 e1 T% R! |' N5 @# N
Information note:6 |, j& l9 c" p+ ^0 b+ e
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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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