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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.
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  G4 l- Z; \5 ^; z$ QThe global economic recovery is proceeding broadly in line with the Bank's projection in its) M8 _. J0 [2 \4 S! h0 }
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is' ], d! u' B) [/ y
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
  p( p3 @! W& Uchallenges associated with sovereign and bank balance sheets will limit the pace of the European+ @" x* B; s$ X# H) Q
recovery and are a significant source of uncertainty to the global outlook. Robust demand from* g. M2 ~( b* ~; @( ~# C/ y
emerging-market economies is driving the underlying strength in commodity prices, which could
- T1 ^; I" I# A" h" Dbe further reinforced temporarily by supply shocks arising from recent geopolitical events.
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The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of- C$ ?" K  k- ^" G7 i0 g7 S! h
the anticipated rebalancing of demand. While consumption growth remains strong, there are+ o, Y0 v( f1 q
signs that household spending is moving more in line with the growth in household incomes.
* A& x; `1 r& dBusiness investment continues to expand rapidly as companies take advantage of stimulative
$ x& A+ v( o$ C+ e! zfinancial conditions and respond to competitive imperatives. There is early evidence of a
& Z3 Q/ T+ W6 F2 L9 b4 Frecovery in net exports, supported by stronger U.S. activity and global demand for commodities.
, x4 F: n0 `/ G/ ~- z% e+ QHowever, the export sector continues to face considerable challenges from the cumulative effects) [- ]/ l8 L: m* g) r) ?
of the persistent strength in the Canadian dollar and Canada's poor relative productivity! y/ i* d6 Z/ f! }* C
performance.
# ~% t) D' }5 E! Y/ r/ Y5 W% q. E6 B& n; O" D# ]
While global inflationary pressures are rising, inflation in Canada has been consistent with the
4 H) p, N' M# [Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the+ n+ Q8 N* }$ W/ w
considerable slack in the economy., M7 J2 T9 l3 u% u
0 m7 I$ a7 s. i" p& q8 ~
Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
- w1 r% m. m( Y$ D. F. Rat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
: g2 C. w" q' n: t2 per cent inflation target in an environment of significant excess supply in Canada. Any further
2 R8 G- y+ j0 c0 Oreduction in monetary policy stimulus would need to be carefully considered.; W" g0 A: Z; L8 A' T: D
Information note:
1 A$ i* o4 ?1 b& d& M- M, y7 E0 Y2 H' E8 @( P9 j, P( b5 |
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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