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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.
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" `4 ~+ m; O7 ]6 oThe global economic recovery is proceeding broadly in line with the Bank's projection in its5 b' I$ f2 d; u& z. w9 p- i7 ~
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is6 @4 u! J9 M! d1 F
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing# J0 `. ~5 p, Z
challenges associated with sovereign and bank balance sheets will limit the pace of the European
; @' n* S- ~5 ~0 b- Irecovery and are a significant source of uncertainty to the global outlook. Robust demand from+ ?/ c% R' A; d+ N7 ^( }7 `  a7 T
emerging-market economies is driving the underlying strength in commodity prices, which could  a* P! H1 S* h4 f, l/ b
be further reinforced temporarily by supply shocks arising from recent geopolitical events.
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. F$ X4 R* D; R" N! q% w( \$ n1 \The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of3 P6 y* [+ @) u! z
the anticipated rebalancing of demand. While consumption growth remains strong, there are
. j2 A9 N2 o# ^! E& _signs that household spending is moving more in line with the growth in household incomes.' g% m& D  C3 I& E
Business investment continues to expand rapidly as companies take advantage of stimulative
% o7 J3 k) N4 S5 ^& Q5 Jfinancial conditions and respond to competitive imperatives. There is early evidence of a
/ H% r7 ]6 t+ P  l0 h2 Orecovery in net exports, supported by stronger U.S. activity and global demand for commodities.
& N+ Q! T' y: rHowever, the export sector continues to face considerable challenges from the cumulative effects
, h" o/ `6 J$ ]of the persistent strength in the Canadian dollar and Canada's poor relative productivity
+ H% ?2 g3 e" E* e2 d" Uperformance.) B+ i3 k/ M) i1 V, F3 a
/ N' ?& [! f6 _  G
While global inflationary pressures are rising, inflation in Canada has been consistent with the
7 N; [5 u3 _1 t# eBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
6 g: h; P  R$ b: }* Q, gconsiderable slack in the economy.
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5 f1 {" m( _+ N3 P. H% f" m. a6 _Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
3 u) G/ [/ e9 y" q6 X/ n5 Xat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the( `, @; _3 z9 z# w( z$ S6 [8 p
2 per cent inflation target in an environment of significant excess supply in Canada. Any further, R6 s( r2 _* k% `3 X7 I& D
reduction in monetary policy stimulus would need to be carefully considered.* N  u; s; ]3 |5 V1 H7 G* ^" c
Information note:: @) u  j5 [  a

0 q' Y1 K4 L! r1 Q  I4 qThe 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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