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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.# l6 X. }: L( J8 H
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The global economic recovery is proceeding broadly in line with the Bank's projection in its
1 U( z, U5 L- {# L8 gJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is+ g1 x! Y  y( I5 @
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
( @3 |: O0 f0 X1 a: Lchallenges associated with sovereign and bank balance sheets will limit the pace of the European1 f  y% E: k( c( u, H- H
recovery and are a significant source of uncertainty to the global outlook. Robust demand from2 F( ^+ ~" c6 J2 d$ b  C! q
emerging-market economies is driving the underlying strength in commodity prices, which could( ~1 p+ F) h* R  T
be further reinforced temporarily by supply shocks arising from recent geopolitical events.7 C: D9 W# [: {9 P

  I; y" e+ T: B9 I* k2 ^! _0 P2 i9 lThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
/ s8 [% c: Q) k* Lthe anticipated rebalancing of demand. While consumption growth remains strong, there are  ]1 I5 w( @0 S: n! L8 @/ F
signs that household spending is moving more in line with the growth in household incomes.
9 l& N  z. c( v6 ^% u4 FBusiness investment continues to expand rapidly as companies take advantage of stimulative
( w3 f7 V* J3 P+ M4 B- W) H1 W4 afinancial conditions and respond to competitive imperatives. There is early evidence of a1 L" [3 Y" \2 I& U8 \6 `0 s& q% Z0 H
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.
" Y  o8 b4 O+ f# f$ s/ d. C8 V6 P: a  B( [However, the export sector continues to face considerable challenges from the cumulative effects
$ ~7 r, _% C- E& Lof the persistent strength in the Canadian dollar and Canada's poor relative productivity
# a( ^2 h5 g; C, s8 _1 q5 Aperformance.
, C: L4 \* e( B7 l( m1 `! Z5 o/ |0 ]/ K5 W6 y% W3 z
While global inflationary pressures are rising, inflation in Canada has been consistent with the, k* l5 P( j' ~: l. k
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the) A( U8 @; j$ a
considerable slack in the economy.
$ R7 @1 G0 x* s" p
4 `* A  [# B. V. D, i1 v) U1 QReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
( L1 t* @) s3 N1 o/ @at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
# \' H0 M" E. E2 per cent inflation target in an environment of significant excess supply in Canada. Any further
0 d( A+ G# q) `) b; R9 o) g# Mreduction in monetary policy stimulus would need to be carefully considered.
5 u0 m3 R1 o1 p, |' l" sInformation note:
$ D8 m: Y7 ]( h) W( g/ J% C; l# s6 y& i8 r5 s" D2 O4 f; l1 t
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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