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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.7 g, c- C( s4 D/ j

  ^  N1 O5 C2 _( ]1 m- y4 mThe global economic recovery is proceeding broadly in line with the Bank's projection in its  S, G0 |3 I( q3 q2 q2 y) R
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
% h  K  v; |1 M1 h' z; Ysolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
+ Z+ m7 m0 |9 J, D9 }challenges associated with sovereign and bank balance sheets will limit the pace of the European* o3 R9 f* v. c' z% `/ H3 b' \4 A
recovery and are a significant source of uncertainty to the global outlook. Robust demand from
4 c: v7 ~' y7 O: E3 ?. Wemerging-market economies is driving the underlying strength in commodity prices, which could8 V7 e+ V; p  f. g) y
be further reinforced temporarily by supply shocks arising from recent geopolitical events.
$ x  u/ ?; u! e9 A% _
3 y; y3 q) j/ S* {The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of* v1 l( I' V$ _- H& V$ N
the anticipated rebalancing of demand. While consumption growth remains strong, there are
5 v7 r4 d% n$ ssigns that household spending is moving more in line with the growth in household incomes.8 e' l2 {+ F% R9 l2 U0 v
Business investment continues to expand rapidly as companies take advantage of stimulative
, w0 e# _  `4 M; `! Nfinancial conditions and respond to competitive imperatives. There is early evidence of a2 t, r4 P  y/ ^2 j
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.
# t2 }5 S& s+ _2 @* V* @+ O% EHowever, the export sector continues to face considerable challenges from the cumulative effects
7 u3 j" s& I- k* l, H0 Iof the persistent strength in the Canadian dollar and Canada's poor relative productivity
( J0 Z2 F& n, Q0 H1 c, x$ \- pperformance.
* M3 a$ `5 K' D$ ]
& i  |; y- P2 \8 D: g4 GWhile global inflationary pressures are rising, inflation in Canada has been consistent with the5 y  k1 n1 g+ C2 w% x! b
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
4 M. N) T+ W6 s) h& p8 Q! nconsiderable slack in the economy.  _! F- k2 n+ p' ?; i, `

1 B/ ^) \3 g; WReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
8 }' D6 W1 }6 A+ E" T+ C& A9 Aat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
  W$ [) Y- n7 V& C6 C& h) U- Y2 per cent inflation target in an environment of significant excess supply in Canada. Any further
; p: Z% E- D7 r- Nreduction in monetary policy stimulus would need to be carefully considered.. ?6 I  N1 T/ S3 T7 c# d1 Q. K6 C
Information note:# X$ T4 z0 O) ~, Z

  ~% S/ F) }9 R' q- y, ZThe 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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