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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 m2 ^% d6 b& `* Q! U) B* v
1 r* i1 r5 X" K, Y  f+ g( jThe global economic recovery is proceeding broadly in line with the Bank's projection in its* Q' J7 h$ ], \$ T6 J/ e
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is6 _. u  g& t( R
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing: @. n6 }6 z  s0 U% j3 u8 B5 T
challenges associated with sovereign and bank balance sheets will limit the pace of the European- f; U6 C- B) s+ @& H: Q* k
recovery and are a significant source of uncertainty to the global outlook. Robust demand from+ a% X, |( ?6 {# ^2 J
emerging-market economies is driving the underlying strength in commodity prices, which could8 K" z& ~0 Z9 C7 m- {
be further reinforced temporarily by supply shocks arising from recent geopolitical events.* C6 m. J; `: Z
, m+ N0 Q+ q) k* G9 f9 u2 I
The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of" m" h+ H% A0 C* q- B
the anticipated rebalancing of demand. While consumption growth remains strong, there are4 _: G) L4 p3 u9 Y; G
signs that household spending is moving more in line with the growth in household incomes.
/ U7 {+ B9 F3 G* W" lBusiness investment continues to expand rapidly as companies take advantage of stimulative
7 c* S% U  h9 [- [# vfinancial conditions and respond to competitive imperatives. There is early evidence of a* b0 B) ^# Z( m. P
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.  R6 B+ n4 r/ H+ b+ M( B
However, the export sector continues to face considerable challenges from the cumulative effects  {. F! M& w2 a+ U6 d' z' B! b
of the persistent strength in the Canadian dollar and Canada's poor relative productivity) u/ R) d( a8 n  t9 S# a
performance.$ W! C) H6 q% E% R) G

) y% v- U2 B' K# Y! O! r# I+ NWhile global inflationary pressures are rising, inflation in Canada has been consistent with the+ k/ A9 M3 \1 f/ `8 _/ n9 `- k
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the7 g" y) y/ i8 s0 s6 `
considerable slack in the economy.
  t/ G/ f4 P) r
" a, d- n  X6 ]! L0 t' z2 o! \Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
8 e' l2 Z6 O' Iat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the6 r* B0 t- ]1 v5 c& B( L7 n9 k
2 per cent inflation target in an environment of significant excess supply in Canada. Any further
: @5 u& [2 u/ B% N: {reduction in monetary policy stimulus would need to be carefully considered.
3 x$ v# P! x8 U% d' eInformation note:  B3 d& h+ {8 A, v, q

% Y  J2 r6 M" }' ^$ }8 X- _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.
大型搬家
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.
大型搬家
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