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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/ x8 ?2 u  b* t8 f2 e! {

# B' C# R) [4 ~; t1 K: k7 ?The global economic recovery is proceeding broadly in line with the Bank's projection in its
- Z+ Y( d9 e6 W" g7 z% k$ y6 V  HJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
, z1 O& ~8 X: ~1 N, @! Csolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
$ ~: r6 v/ U" C# [% B) jchallenges associated with sovereign and bank balance sheets will limit the pace of the European! r* ]9 d! [# `7 Y' S% d
recovery and are a significant source of uncertainty to the global outlook. Robust demand from" F5 x. [. j. p, I
emerging-market economies is driving the underlying strength in commodity prices, which could$ u$ w* G* c+ X* c0 O8 w  O
be further reinforced temporarily by supply shocks arising from recent geopolitical events.
6 o8 w! g/ z- {) y
! a/ N' A7 p- u- I- P6 f& oThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
- k! E& I7 i1 T% [$ tthe anticipated rebalancing of demand. While consumption growth remains strong, there are
1 ?  v/ h1 z' X8 F) X- ?signs that household spending is moving more in line with the growth in household incomes.4 X2 e0 K2 I# k2 i. x# d3 m
Business investment continues to expand rapidly as companies take advantage of stimulative
6 E4 k+ J, B5 c  e0 Efinancial conditions and respond to competitive imperatives. There is early evidence of a  m4 V' L* p4 M! m9 \
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.- b7 X2 S) s1 k
However, the export sector continues to face considerable challenges from the cumulative effects6 r+ k) H# k" E
of the persistent strength in the Canadian dollar and Canada's poor relative productivity
2 {* l* g. S: i1 N$ f. F8 lperformance.
( A9 v  ^) F+ @! X: U. t6 [3 N. n! ^' _1 U
While global inflationary pressures are rising, inflation in Canada has been consistent with the
2 @, u0 E$ C! n. G$ S3 B! pBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the) ?3 z- `+ Q! m* q! X
considerable slack in the economy.+ U, V7 b& c9 C2 S; v
) C9 E2 ^/ m3 I; G) b; ?) N2 e
Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
# }% i' b# o' U; T7 H6 ]# xat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
" U/ O0 |' W8 q" V, m* _4 K8 Q3 B2 per cent inflation target in an environment of significant excess supply in Canada. Any further* W) h7 \8 n. c* Z
reduction in monetary policy stimulus would need to be carefully considered.
* M( |+ S% j8 n0 s: r; `3 c6 bInformation note:
" r  |- k% F: d6 L1 N* X, p) S) o; U# ]: h4 H# E
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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