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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./ t/ K4 R+ b" p3 ~2 q; G; M. U

& P7 p5 H% s! @( FThe global economic recovery is proceeding broadly in line with the Bank's projection in its
, \+ t# R2 L( K* ?January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is1 Q$ {. E- R' W7 j" p) I
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
/ U0 t5 |8 ]% Xchallenges associated with sovereign and bank balance sheets will limit the pace of the European
4 B  ~/ e* f; o# v9 O1 J5 n3 \recovery and are a significant source of uncertainty to the global outlook. Robust demand from
2 `/ ?" e5 T- Bemerging-market economies is driving the underlying strength in commodity prices, which could4 D, \! v/ q9 p5 q
be further reinforced temporarily by supply shocks arising from recent geopolitical events.
4 t' c; O  N4 g/ {; N2 S9 W/ g, G& a
The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
4 `5 M% k/ v- F$ J. [the anticipated rebalancing of demand. While consumption growth remains strong, there are
5 K) M8 ^* {/ }2 A2 [) n2 f5 Rsigns that household spending is moving more in line with the growth in household incomes.
, |8 e: w. L; Z, k' ^, k) vBusiness investment continues to expand rapidly as companies take advantage of stimulative
3 b; K6 C. u. Y! w! e; Ufinancial conditions and respond to competitive imperatives. There is early evidence of a- d1 c- i; d$ L$ B+ z
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.+ U4 s$ X: x$ e2 z3 C
However, the export sector continues to face considerable challenges from the cumulative effects
& m2 u! ?: f  g3 M$ R* mof the persistent strength in the Canadian dollar and Canada's poor relative productivity9 @5 P" T1 ~5 m& k6 ?: d2 f$ r7 j
performance.! [+ G7 V3 N: j
- N! [/ J  \/ ~7 ?& @+ d
While global inflationary pressures are rising, inflation in Canada has been consistent with the9 @6 z; v( J$ r% `2 m/ Z  `
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the- L% r6 g% d! b" P* x
considerable slack in the economy.
. b! M5 K/ @4 _+ Q& H- @" }- @$ L& d) f
Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
$ @$ J0 O4 @8 N* w9 k7 B9 `- Gat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the9 C. _2 S4 M8 ~  L- X
2 per cent inflation target in an environment of significant excess supply in Canada. Any further
' C8 Z+ I0 M% u- m& Creduction in monetary policy stimulus would need to be carefully considered.
+ w( M! F/ f( @1 K: ~1 {* hInformation note:
7 }' x9 m7 s3 C0 ~' q  m
# U0 s) Q- `$ s3 rThe 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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