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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; V6 g( I, |: f8 c0 c! v- |, [) R, g
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is; E( |  n! L. i/ A  ~* W
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing' b( ^0 N6 i, `
challenges associated with sovereign and bank balance sheets will limit the pace of the European6 l6 H" \0 c  p* t3 d9 ]; P; z
recovery and are a significant source of uncertainty to the global outlook. Robust demand from
0 [: {( o3 ]9 l+ [9 Wemerging-market economies is driving the underlying strength in commodity prices, which could
% Q$ o% k* _; M) y5 f8 u5 ^7 Qbe further reinforced temporarily by supply shocks arising from recent geopolitical events.8 `" @; p5 {( r) z
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The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of. [$ d2 g- Z# H! T- Y4 M8 a
the anticipated rebalancing of demand. While consumption growth remains strong, there are
: W2 ?  v4 X4 a# |. v. ]9 M- \, Hsigns that household spending is moving more in line with the growth in household incomes.
4 v" _+ o3 M4 {" N4 q  ]Business investment continues to expand rapidly as companies take advantage of stimulative
& L5 J& O2 \! S( N; ffinancial conditions and respond to competitive imperatives. There is early evidence of a
, K* a7 L( K* {4 [. B" m0 Grecovery in net exports, supported by stronger U.S. activity and global demand for commodities.
! x9 U3 c9 p; g1 h( dHowever, the export sector continues to face considerable challenges from the cumulative effects
+ e7 Q. O4 I$ ~5 R' @/ Q* ]5 o3 ?6 vof the persistent strength in the Canadian dollar and Canada's poor relative productivity
' ?& W# T1 n3 i, K  I2 x5 nperformance.
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4 J# |. b& d6 ]5 N1 U) aWhile global inflationary pressures are rising, inflation in Canada has been consistent with the
7 O0 b& I2 i3 u9 A* T8 u$ L, i$ \0 nBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the' s% K) M8 \( t3 `
considerable slack in the economy.
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% }* x+ R& k* t4 ~Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
3 j) F3 ~% C# A9 kat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the) B: q6 i6 [) X0 @" y
2 per cent inflation target in an environment of significant excess supply in Canada. Any further
7 j1 v- k- b) x, a7 J& Dreduction in monetary policy stimulus would need to be carefully considered.
7 M3 B7 e6 Z" W& }' ?% t5 `Information note:- s. \; g  m/ b( U: n
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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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