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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.) j1 l% x9 |/ j5 s3 {: _* }
9 l+ m, C  n$ e
The global economic recovery is proceeding broadly in line with the Bank's projection in its7 I1 c6 p) u9 h9 \. [
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
+ H. g; s, g1 P- x1 o4 V5 Wsolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing, O1 V% Q3 |9 g9 j3 d# ?! ?
challenges associated with sovereign and bank balance sheets will limit the pace of the European
- Y; |' a9 g8 D; W; R9 e4 trecovery and are a significant source of uncertainty to the global outlook. Robust demand from
3 Y, Z5 W) b+ X  W7 F/ X2 A  Remerging-market economies is driving the underlying strength in commodity prices, which could5 E! T, Y8 e  y" V: s1 K9 J$ l& S
be further reinforced temporarily by supply shocks arising from recent geopolitical events.6 Q% J9 ^$ D8 i5 G0 V  M
- t* f; S& |5 S4 I
The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
3 s0 D) i/ Q$ x8 X. kthe anticipated rebalancing of demand. While consumption growth remains strong, there are# [4 T$ T  q% Q. Y6 u
signs that household spending is moving more in line with the growth in household incomes., q" Q& V4 X9 q+ x8 y
Business investment continues to expand rapidly as companies take advantage of stimulative
! p; |6 _& J$ p$ b. dfinancial conditions and respond to competitive imperatives. There is early evidence of a8 Z7 o  x, z" ]* v
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.
! {2 q& @8 h* j2 m& w# ~% zHowever, the export sector continues to face considerable challenges from the cumulative effects, D& a( e5 a4 B  x) T- I
of the persistent strength in the Canadian dollar and Canada's poor relative productivity
$ O. B0 `# E) H) ^+ ^: m8 ~; Gperformance.9 q, `- n% C+ O' N/ M

& f5 u& t0 ]" C8 ?" pWhile global inflationary pressures are rising, inflation in Canada has been consistent with the- ~; T% C- J! [$ D" S5 z3 t
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the/ A4 a( H: l  f( q- {
considerable slack in the economy." U( f4 q* r, E
, Z# c: `* O" U
Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
" D% I7 T* k$ l" k5 h- tat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
5 C! K: ]+ R" ~+ t8 R2 per cent inflation target in an environment of significant excess supply in Canada. Any further
1 d% o! o$ O2 b$ @$ s9 Y! X) c3 _4 Wreduction in monetary policy stimulus would need to be carefully considered.' @9 h8 x! J5 C# {, Q( J' X9 ]
Information note:1 |# x8 y8 W8 _/ r  c
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The 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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