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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
老杨团队,追求完美;客户至上,服务到位!
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.! s1 u, V7 c7 R
2 _8 E2 ~$ f/ J% I$ h1 d; i
The global economic recovery is proceeding broadly in line with the Bank's projection in its
8 w' Q4 L% X2 _% I7 p$ OJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is. V0 k* w. `) D) s8 S6 c6 C
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing6 ~& S( R5 G" X$ u3 v4 y' }
challenges associated with sovereign and bank balance sheets will limit the pace of the European
7 N! K$ {/ I& G. H, t2 m* l& Frecovery and are a significant source of uncertainty to the global outlook. Robust demand from
! i* t6 A, n& d8 f/ I( p5 \emerging-market economies is driving the underlying strength in commodity prices, which could, R6 L7 T' g6 E9 ^9 g' f# ]
be 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 of" f& O9 o+ o! ~: N( [
the anticipated rebalancing of demand. While consumption growth remains strong, there are
3 h4 Z; h8 d( A, P% d$ O: n$ B; `4 t7 psigns that household spending is moving more in line with the growth in household incomes.
1 E# M8 ~8 c8 k$ WBusiness investment continues to expand rapidly as companies take advantage of stimulative7 L* u1 y/ O/ f* v4 x. U) K
financial conditions and respond to competitive imperatives. There is early evidence of a( T, }9 j" y+ K: N4 K7 c% E# `6 p
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.6 M" C* O5 x6 p: _; F
However, the export sector continues to face considerable challenges from the cumulative effects8 J1 r, n& |4 z' n& [7 R' l) Q
of the persistent strength in the Canadian dollar and Canada's poor relative productivity  z# p  N# _/ o- Z2 T1 B
performance.$ _2 t1 l8 w2 {
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While global inflationary pressures are rising, inflation in Canada has been consistent with the
- J# O) i& q" M* C) h* d! aBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
) I) t- `$ I0 n) l  Uconsiderable slack in the economy." O; U3 f# U, }4 ^
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Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
6 o: n0 A# x/ d8 J: Jat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
3 j4 i8 g2 S* A% k# w5 R0 |0 o2 h2 per cent inflation target in an environment of significant excess supply in Canada. Any further: d* {& }! e, F% v) T. K: i
reduction in monetary policy stimulus would need to be carefully considered.
/ E: o3 v# \8 fInformation note:
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The next scheduled date for announcing the overnight rate target is 12 April 2011.
理袁律师事务所
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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