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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.( w: a& a" [/ P8 y/ S, \

. F0 Q1 A5 o/ r! g- [The global economic recovery is proceeding broadly in line with the Bank's projection in its/ I+ k, u; [9 I4 c* ]4 o
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is- y8 r5 A- k. D
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
: m3 ~! O! G4 h$ a3 `( t9 mchallenges associated with sovereign and bank balance sheets will limit the pace of the European
( j" e% V% h5 b. g8 {5 `recovery and are a significant source of uncertainty to the global outlook. Robust demand from
" j) S1 K! V1 n* [$ r. Pemerging-market economies is driving the underlying strength in commodity prices, which could
: ]0 T0 e9 f3 L. \$ tbe further reinforced temporarily by supply shocks arising from recent geopolitical events.
  H! }9 [2 @( v) ?6 p6 f& Z% J
& |; w5 x. A: ?, w+ J+ RThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of8 u9 i& U+ Z% H% ^- k! f
the anticipated rebalancing of demand. While consumption growth remains strong, there are
) D, D$ w/ r* ^0 ^* h0 H8 Dsigns that household spending is moving more in line with the growth in household incomes.
; B. b9 ^. Y4 `" KBusiness investment continues to expand rapidly as companies take advantage of stimulative
! j( n% ?# L5 T4 ~, Y( Wfinancial conditions and respond to competitive imperatives. There is early evidence of a4 ]6 J1 {, D6 E, F* O9 E8 O6 o
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.
! E* e( X; s; c& V: T2 F4 @However, the export sector continues to face considerable challenges from the cumulative effects$ c( {+ ]8 U& X" ]% g; U7 b, U
of the persistent strength in the Canadian dollar and Canada's poor relative productivity* b) o2 {( u+ G' c* ?. h8 c' R7 P
performance.
# e4 d9 U* z& F4 _
! Y+ @  z: u, MWhile global inflationary pressures are rising, inflation in Canada has been consistent with the/ y% z- {( ?2 \. ?/ b
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
8 b0 c6 O3 f+ Gconsiderable slack in the economy.
9 Q' U; \0 m1 K5 ]0 _' m- T7 D. M
4 {( o4 a3 S! g4 MReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate' u5 G5 o7 a  [" \. U
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
" A2 s3 p- f% Y9 q5 _+ _7 J2 per cent inflation target in an environment of significant excess supply in Canada. Any further
$ p& i. A) v! {' p3 v9 Breduction in monetary policy stimulus would need to be carefully considered./ |) y2 ~) W9 x, K+ E$ g) y
Information note:5 b& ^, S  g/ n

) E3 |4 e! \. c" {" ^3 a5 TThe 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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