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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.4 O9 V8 @0 E: c/ Z& ]
7 Y# d/ O4 @4 D6 `$ Z( w
The global economic recovery is proceeding broadly in line with the Bank's projection in its
% n0 N1 r# `: T4 D+ \January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
# O$ @0 N( F& z; [solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
5 K  z) ?3 J3 |7 L( |3 T% tchallenges associated with sovereign and bank balance sheets will limit the pace of the European
- K' _: f! f5 I4 |recovery and are a significant source of uncertainty to the global outlook. Robust demand from
! v+ |: u: I: femerging-market economies is driving the underlying strength in commodity prices, which could
! R4 s2 S& z! z! y6 q  ?be further reinforced temporarily by supply shocks arising from recent geopolitical events.
! Y: w7 _1 G8 h( T$ S1 u/ K7 b" Y: Z; {% C  t; ]6 J' a
The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of7 w7 v* z0 Y6 ^- G+ c
the anticipated rebalancing of demand. While consumption growth remains strong, there are
/ d: i' ?2 M8 v0 h! O8 C8 `' Usigns that household spending is moving more in line with the growth in household incomes.! E7 _0 Q  p6 N5 w* b
Business investment continues to expand rapidly as companies take advantage of stimulative" S1 F4 C# t6 V9 C  u$ C! o8 P
financial conditions and respond to competitive imperatives. There is early evidence of a
- U; [1 q% b. yrecovery in net exports, supported by stronger U.S. activity and global demand for commodities.
6 ]% m# a! a" M' u+ N5 lHowever, the export sector continues to face considerable challenges from the cumulative effects
+ x+ W$ r$ o5 A* z. g1 n4 s- Y" tof the persistent strength in the Canadian dollar and Canada's poor relative productivity) M1 {6 @( ~7 W6 V3 u7 l* t
performance.* T4 c  T7 M0 g

% B7 W) w% C5 S8 Q# p4 P+ R* FWhile global inflationary pressures are rising, inflation in Canada has been consistent with the" g$ I- T5 u$ @! U
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the0 h( r  ]  m8 O/ O  d8 C
considerable slack in the economy.8 L. m7 G( c$ {! M

: ?5 z* ^. ~6 b9 \# vReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
* }4 Z7 y7 D" M% x" [. xat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
: T. T# e) o6 k% p* r( t2 per cent inflation target in an environment of significant excess supply in Canada. Any further
! q$ x4 W- d" Z1 J5 Kreduction in monetary policy stimulus would need to be carefully considered.
% r, x( D: X7 \4 P& I. J( Q8 }! `* AInformation note:
8 p4 B( f$ Y; v  S* _8 Q1 S* [1 I- y) f6 J  M1 N+ q3 j
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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