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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.
2 _2 e, I+ E6 _2 W0 U& i3 u1 m" z2 M' q+ I+ c
The global economic recovery is proceeding broadly in line with the Bank's projection in its* t& S2 [0 m5 b6 g) s& f/ U/ c
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is) T: V: R4 D3 p0 l8 w" M- w
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing* l: N* t8 D, H
challenges associated with sovereign and bank balance sheets will limit the pace of the European
, p2 b5 K1 Q7 r9 f( z* ?! u8 {recovery and are a significant source of uncertainty to the global outlook. Robust demand from8 W- W' M/ |8 R; a2 Q2 n; ]
emerging-market economies is driving the underlying strength in commodity prices, which could, H2 R3 F! `3 ~( t  Q8 {
be 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) P6 {" |6 ^the anticipated rebalancing of demand. While consumption growth remains strong, there are! x6 k& x1 H; C' k- j5 K' ~1 v
signs that household spending is moving more in line with the growth in household incomes.+ J+ ?* s9 {: e! I  P
Business investment continues to expand rapidly as companies take advantage of stimulative
, f: I( ]# M- p4 j7 O' Ofinancial conditions and respond to competitive imperatives. There is early evidence of a( i, A7 _  t" x, V4 u
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.
7 Q7 m8 p# z0 Y4 c1 \8 WHowever, the export sector continues to face considerable challenges from the cumulative effects& l$ T! R- \/ z6 [- }3 n$ A8 ~
of the persistent strength in the Canadian dollar and Canada's poor relative productivity
# {/ k! X7 Q4 B$ Dperformance.
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- f* x0 ?. u" `! v# J7 nWhile global inflationary pressures are rising, inflation in Canada has been consistent with the
! N3 d! t/ U' ^+ ~" vBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
4 E3 o% `) u& Uconsiderable slack in the economy.+ d" V( k9 D( w3 q0 U7 O
3 y, ?1 w( j4 e4 v9 |$ @5 T
Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate$ R, F6 T4 b0 R9 \
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
: l2 I6 P; k+ f0 C2 per cent inflation target in an environment of significant excess supply in Canada. Any further/ g0 z/ H; p* _* C% U: f: k1 q
reduction in monetary policy stimulus would need to be carefully considered.
9 Y/ g& D( Y2 dInformation note:4 J/ s  E) p8 A* Z- S# _- D, |

/ j, F. F$ u# s( ^9 k6 q* CThe 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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