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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.; s% x  ^7 b1 a1 H) X

6 H  E. y% G1 l# ?8 G, m& ~4 F/ I9 hThe global economic recovery is proceeding broadly in line with the Bank's projection in its
+ f5 V' E3 y& N# gJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is2 O1 \6 K6 Z' s7 U4 B" K7 N* b
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing: p. O$ M/ L1 M$ H8 j. Z
challenges associated with sovereign and bank balance sheets will limit the pace of the European# B: C9 d: E  k; T% T5 m
recovery and are a significant source of uncertainty to the global outlook. Robust demand from$ B' C4 ?4 F3 a" c% o
emerging-market economies is driving the underlying strength in commodity prices, which could4 K8 ?3 T7 a+ X) D& k9 o1 o
be further reinforced temporarily by supply shocks arising from recent geopolitical events.) r  K# f$ ^+ C+ L( z: [4 n7 N
4 t# ~. I) h& `* h
The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of0 c. }' A+ j( M! ^
the anticipated rebalancing of demand. While consumption growth remains strong, there are
9 I/ }. Z/ {- I8 Y0 ksigns that household spending is moving more in line with the growth in household incomes.
  d$ q( r7 P8 u  Y2 ?% f8 r) C) }Business investment continues to expand rapidly as companies take advantage of stimulative
- f3 \- \! [+ c+ N: q; C6 ]financial conditions and respond to competitive imperatives. There is early evidence of a
5 h$ ^. t+ K! O* t: S6 Irecovery in net exports, supported by stronger U.S. activity and global demand for commodities.
- G. `: d& y* K4 jHowever, the export sector continues to face considerable challenges from the cumulative effects- Z6 z4 \" W7 R; g4 ~
of the persistent strength in the Canadian dollar and Canada's poor relative productivity
% _1 d9 v# g9 b# X8 A0 `performance.' W  H% C& s9 {7 z8 t0 R
/ O) s6 k7 \* K/ f/ G
While global inflationary pressures are rising, inflation in Canada has been consistent with the
7 z" d' d8 D6 P; W5 [Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the6 r# {8 @: c8 {: x& f" k$ |' p, R/ c
considerable slack in the economy.3 O& n/ X9 O! s+ f1 v
& R' f  I" E4 r$ s& P: x7 |
Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
- O/ J8 Z1 z7 }: X3 X0 q7 W: {7 n/ S: Rat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
+ n- M7 u( d' q% V3 A* Z+ E5 Z2 per cent inflation target in an environment of significant excess supply in Canada. Any further
, b; k2 _( R5 h7 Creduction in monetary policy stimulus would need to be carefully considered.
% M) f; y1 K! n. KInformation note:
) ?; q1 G2 s6 W/ A6 L* O
  e( G4 i* f/ l5 i5 pThe 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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