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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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: f1 l" {, F% N7 j" j3 Y  |The global economic recovery is proceeding broadly in line with the Bank's projection in its
# L8 W. |. B0 V+ H3 C3 A8 uJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is/ A: ?$ o3 W6 e- _( q
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing3 S* w* i* ^- s7 C  ]* r( T( H0 E
challenges associated with sovereign and bank balance sheets will limit the pace of the European
) x1 o6 z& i0 Lrecovery and are a significant source of uncertainty to the global outlook. Robust demand from: C  Z1 C; ?4 h# z& u
emerging-market economies is driving the underlying strength in commodity prices, which could5 C5 m" y  y, `6 ~7 B
be further reinforced temporarily by supply shocks arising from recent geopolitical events.
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* v; P- r7 ~) ~+ t. s  FThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
( D# `! L, M' b4 \7 Cthe anticipated rebalancing of demand. While consumption growth remains strong, there are
: L% c0 H  O4 d4 R7 N/ ?4 l1 xsigns that household spending is moving more in line with the growth in household incomes.* K1 o% m' ?# Z( Z. V3 e
Business investment continues to expand rapidly as companies take advantage of stimulative1 p) i% P! |2 N% Z
financial conditions and respond to competitive imperatives. There is early evidence of a
/ M  k& |9 T3 ^recovery in net exports, supported by stronger U.S. activity and global demand for commodities.5 X) }& E) P' ]$ {+ a6 M8 P( R
However, the export sector continues to face considerable challenges from the cumulative effects5 O9 y+ X+ Z6 j3 m
of the persistent strength in the Canadian dollar and Canada's poor relative productivity2 @7 L9 V, y+ _
performance.$ r# @& y$ T* k% S4 l3 G
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While global inflationary pressures are rising, inflation in Canada has been consistent with the
- a: L$ C  g( e! x6 W' dBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the  J+ q. }( `/ x& H! P) \8 e
considerable slack in the economy.
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, p) \5 B* V  N9 _, ~8 ]Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
2 P; }, J% x4 z% eat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
7 U  L# U" V# r. f8 Z* V2 per cent inflation target in an environment of significant excess supply in Canada. Any further
) V5 f. n' U* A/ Treduction in monetary policy stimulus would need to be carefully considered.
/ w6 r2 y$ p" e3 R& F  cInformation note:
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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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