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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 U' u: X0 ?, j  V* O
1 F7 m( |* l7 t% S
The global economic recovery is proceeding broadly in line with the Bank's projection in its
& [8 ~, U! ]: X/ cJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
0 |& \" K& k" O& S6 ?9 `4 Vsolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
. O6 \$ y% n0 dchallenges associated with sovereign and bank balance sheets will limit the pace of the European
0 X0 ~7 M) y+ A8 Erecovery and are a significant source of uncertainty to the global outlook. Robust demand from
1 a! x/ J3 b: J6 h5 lemerging-market economies is driving the underlying strength in commodity prices, which could/ N6 P0 q. e" r. b
be further reinforced temporarily by supply shocks arising from recent geopolitical events.: t4 l$ e" m" X; O' d  D

7 D/ |* s* v  H- V1 e8 a# pThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of- @9 S5 a1 T* o6 E3 r: A$ R* K
the anticipated rebalancing of demand. While consumption growth remains strong, there are
0 N" G8 l7 w* f: p3 e" Lsigns that household spending is moving more in line with the growth in household incomes.+ X  I3 H- w3 @8 b
Business investment continues to expand rapidly as companies take advantage of stimulative0 z; j! C  v& ~- q
financial conditions and respond to competitive imperatives. There is early evidence of a; m' E; h7 W/ H7 }6 ]& m4 N
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.5 |# Y5 y4 H8 T: @
However, the export sector continues to face considerable challenges from the cumulative effects( ?8 I" w  d& Z1 U0 ]  Q3 L% P- o' j
of the persistent strength in the Canadian dollar and Canada's poor relative productivity
+ P$ t( b5 L9 {! ?: iperformance.. j% s5 l0 @. A+ T- m6 s; V$ s7 L

5 j* R7 ?, E7 K# `$ G- h' P( WWhile global inflationary pressures are rising, inflation in Canada has been consistent with the
/ t+ _$ i8 P1 }7 ~2 T4 gBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
" k5 ^6 I& U' ^0 k& a+ G& g: h  c* _considerable slack in the economy.8 G1 Z5 h9 T# s' `1 U

  S# z2 A* p% J4 m( A! ZReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
1 U! _" [6 ^6 I1 Xat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the. G4 {* F# h- E& k' t
2 per cent inflation target in an environment of significant excess supply in Canada. Any further
2 J; d1 R1 \) Y6 r2 h; u3 G$ Creduction in monetary policy stimulus would need to be carefully considered.( p, z5 n( }8 D7 o: _$ A
Information note:1 ^& Q3 Z/ T6 O6 D5 |
  K1 h' N/ n2 ]
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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