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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.
% f5 T$ a1 v- ^3 a2 k1 }  o& Y
9 m6 W; o2 T3 E, P- DThe global economic recovery is proceeding broadly in line with the Bank's projection in its
' s, V3 W+ v) W7 X( A' ~January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is$ K2 z7 E. y) J) f3 _
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing) S/ M# \5 L; s0 n. B9 P" Y
challenges associated with sovereign and bank balance sheets will limit the pace of the European
" r6 U4 Y8 P4 Xrecovery and are a significant source of uncertainty to the global outlook. Robust demand from; S; d, ?0 q  Y& P% W+ j
emerging-market economies is driving the underlying strength in commodity prices, which could
: [4 I% `" s* sbe further reinforced temporarily by supply shocks arising from recent geopolitical events.
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. c% V' _. t' F8 D/ W- Q/ kThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of( [' B6 D* |) U1 ~4 |* _2 F
the anticipated rebalancing of demand. While consumption growth remains strong, there are  n" X) W! w6 X! G
signs that household spending is moving more in line with the growth in household incomes.
1 }6 W6 ]. X( L) F' GBusiness investment continues to expand rapidly as companies take advantage of stimulative
1 Y& ?4 S7 X3 n( b, gfinancial conditions and respond to competitive imperatives. There is early evidence of a+ V  S/ L8 S  H( z
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.
5 Y5 _6 P! R; gHowever, the export sector continues to face considerable challenges from the cumulative effects
; `) Q+ `5 O# Y/ kof the persistent strength in the Canadian dollar and Canada's poor relative productivity, Y; T; t% c/ d7 @& a" M9 y$ A$ q: S
performance.- X6 f3 H4 C; ~5 K2 b. u
& A7 N; v4 Z0 E2 j' {
While global inflationary pressures are rising, inflation in Canada has been consistent with the
& f/ [) _# W& W9 R" q2 EBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the- C# g( K! O: q4 Y1 N, [! f
considerable slack in the economy.# Z" L. }+ [* h8 z& k* E4 Q

' k2 z& D. |8 o/ P" OReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
0 A( C, j; ~# K6 @0 H1 t9 R# xat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the2 l8 \) o5 C  Q5 D+ B2 r
2 per cent inflation target in an environment of significant excess supply in Canada. Any further
& w% G4 Z0 e( M! b7 Sreduction in monetary policy stimulus would need to be carefully considered.* V/ ?/ Z& ]4 I3 f
Information note:" ]% ]9 O1 F5 I0 N; H: \  }
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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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