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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.& F% D& R9 ^7 K+ Z  P; A
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The global economic recovery is proceeding broadly in line with the Bank's projection in its
+ e- C/ c9 r) u$ h9 `5 c: _6 DJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is* Z7 W8 x( U& k8 K& x
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
) @! o9 g& D# `0 kchallenges associated with sovereign and bank balance sheets will limit the pace of the European
  N6 }. z) d& R4 A. A$ Erecovery and are a significant source of uncertainty to the global outlook. Robust demand from
% a4 M: g- P$ }2 o6 f0 zemerging-market economies is driving the underlying strength in commodity prices, which could
: r6 u3 G7 O- y4 n4 j. R, Q/ Q  tbe further reinforced temporarily by supply shocks arising from recent geopolitical events.$ J. X0 v) |" W

% ~9 ^, R% \' A4 v( lThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
0 c5 ~3 R8 L+ ~* _' ?8 Wthe anticipated rebalancing of demand. While consumption growth remains strong, there are
' l; V: T2 p' x. j5 {  P6 w4 tsigns that household spending is moving more in line with the growth in household incomes.1 _7 C' H4 N) W$ O& c# ]
Business investment continues to expand rapidly as companies take advantage of stimulative5 C8 p6 J2 ^) i6 s- z7 r- X) O
financial conditions and respond to competitive imperatives. There is early evidence of a
) I' w# ?% G2 j' S( O. arecovery in net exports, supported by stronger U.S. activity and global demand for commodities.  t# h5 G0 o' d: M3 |- O
However, the export sector continues to face considerable challenges from the cumulative effects
- d, w, w( S$ k, }3 ~- p, Qof the persistent strength in the Canadian dollar and Canada's poor relative productivity
5 |: g* V- |( v/ G! j8 Sperformance.; B( i. M9 h+ A. I5 q

; [7 v$ d5 `2 _$ [/ C2 AWhile global inflationary pressures are rising, inflation in Canada has been consistent with the
! a, D7 ]2 q; G" GBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the9 P4 B8 m3 R# b! K# P
considerable slack in the economy.
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0 `2 Z) n9 u* x. A/ [* g+ XReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
$ i; [7 S; i. e7 ^2 \6 D& M5 Eat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
; Y& E2 w8 c! t2 per cent inflation target in an environment of significant excess supply in Canada. Any further
2 {3 W% ^; {* kreduction in monetary policy stimulus would need to be carefully considered.' n  [( y& b1 Q; a/ j' @( k, N. ^
Information note:
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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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