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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.! I. q& K. l0 E; N, v1 r( o6 H' |
0 C& m& y4 Z5 B
The global economic recovery is proceeding broadly in line with the Bank's projection in its
4 Z  r* T% n8 [% `: pJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
  V( Q1 J! {8 f4 Wsolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
/ s" {! O! {, G. rchallenges associated with sovereign and bank balance sheets will limit the pace of the European! K0 E, u0 G  A: Z+ r- V
recovery and are a significant source of uncertainty to the global outlook. Robust demand from
  t, O2 Z; g, m' b- `; w+ j7 Demerging-market economies is driving the underlying strength in commodity prices, which could
9 N9 w7 N2 B) ?( A. v- _3 y! Rbe further reinforced temporarily by supply shocks arising from recent geopolitical events.
  [' [" h* \4 e, {1 u" r' [
. w- i3 M" w! ^$ M' k# j+ j* v; Y( m* V" QThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of1 @0 }" n% q. v$ I) V
the anticipated rebalancing of demand. While consumption growth remains strong, there are
2 J* r/ h7 R; |( w8 Dsigns that household spending is moving more in line with the growth in household incomes.( |2 c! P9 G: D
Business investment continues to expand rapidly as companies take advantage of stimulative
  {$ C0 n, w. X7 o; k% nfinancial conditions and respond to competitive imperatives. There is early evidence of a
! c9 A" M9 L4 t6 \, f0 krecovery in net exports, supported by stronger U.S. activity and global demand for commodities.
. m$ y* S3 u- H2 v0 gHowever, the export sector continues to face considerable challenges from the cumulative effects
4 i! P* u1 [: F, O/ h0 K* ~7 \1 pof the persistent strength in the Canadian dollar and Canada's poor relative productivity
4 Z% W7 y* C4 q4 k$ e  H/ n% {performance.
0 \% A' `3 ~; R( a& I. a- \
, S, V' t" {) B% q& _9 \While global inflationary pressures are rising, inflation in Canada has been consistent with the; F4 [, A$ S5 s) @# g( Y
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the/ z% Y4 y- i+ @" z
considerable slack in the economy.
# S! X% Y- T# S0 G$ ]4 @. @* r6 R  A3 d9 T/ H- L" M5 b9 _8 v
Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
& ?  q4 i) s9 J$ }: jat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
$ r9 c1 s7 w# {- {2 per cent inflation target in an environment of significant excess supply in Canada. Any further
" _4 Y" U/ B# k$ jreduction in monetary policy stimulus would need to be carefully considered.+ y& _$ c' Y5 Q
Information note:
4 A3 u( `# V0 u* N8 {- a4 d9 @3 P9 V1 Q9 T* V; z4 I/ q9 p
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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