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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
) S8 S; X. O2 I* H' c! S6 fJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is, a) {( m% P( @( P: c/ w' z
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
1 X0 O" \4 F! F. W0 ~5 Jchallenges associated with sovereign and bank balance sheets will limit the pace of the European
, l$ z$ g0 g; ?9 [recovery and are a significant source of uncertainty to the global outlook. Robust demand from7 E5 r# d9 ]% M8 Y: t
emerging-market economies is driving the underlying strength in commodity prices, which could
+ T$ f- r$ n4 `7 |  e9 ]3 {be further reinforced temporarily by supply shocks arising from recent geopolitical events.
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) A5 n0 O. o$ u+ ^+ j! l" c- L3 MThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
; v# H5 j" ]- j7 M2 g9 M# L% Z" B8 Xthe anticipated rebalancing of demand. While consumption growth remains strong, there are
( s/ I- Z. C- hsigns that household spending is moving more in line with the growth in household incomes.: \' H# Q( r4 d2 s! k
Business investment continues to expand rapidly as companies take advantage of stimulative5 W& T3 C8 C- {7 o! n& Z
financial conditions and respond to competitive imperatives. There is early evidence of a: o; X3 k1 `  S3 P% @* q& E+ c
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.+ n0 C5 d; K" R* f1 A. b2 q
However, the export sector continues to face considerable challenges from the cumulative effects
3 w: u$ Z* s! t, G! f; hof the persistent strength in the Canadian dollar and Canada's poor relative productivity
( ~7 U) f0 C1 W/ ~6 `performance.7 N( Z" l2 f3 p0 @; [2 \( Z) |

+ a! f1 ^, U- W8 KWhile global inflationary pressures are rising, inflation in Canada has been consistent with the! v7 r0 |7 B$ E5 D
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
8 V( C. e4 q: P  [. P2 O+ Nconsiderable slack in the economy.9 L' j$ Y& N, ?. }# y, w  j. ]

4 b6 O) Q" j; d# K+ o8 JReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate" d$ U& R& e4 O8 l9 h
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the* L' w2 r4 r: B/ k7 M5 M
2 per cent inflation target in an environment of significant excess supply in Canada. Any further
/ x: i# w/ ^& v2 m# hreduction in monetary policy stimulus would need to be carefully considered.
7 O+ X. E' X( P  C: xInformation 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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