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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.
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& v6 l5 z  P, ~: w8 B/ @: O( cThe global economic recovery is proceeding broadly in line with the Bank's projection in its2 s* y5 R- _9 F: [
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
/ F' p3 I; |8 N$ ksolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing, S" _7 B- V) R1 {- [+ W4 X
challenges associated with sovereign and bank balance sheets will limit the pace of the European
4 d# _! N+ j. x/ }0 orecovery and are a significant source of uncertainty to the global outlook. Robust demand from6 T# K+ ~3 q5 G8 ~7 S9 ?; [
emerging-market economies is driving the underlying strength in commodity prices, which could3 a' H' b& D# f9 ]) a' n
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( B1 K# K1 [; X, F1 K- I
the anticipated rebalancing of demand. While consumption growth remains strong, there are
+ \, `! p  E: t0 y" f7 z0 lsigns that household spending is moving more in line with the growth in household incomes.
$ D) p6 o  |3 eBusiness investment continues to expand rapidly as companies take advantage of stimulative
# j: }. g& _, `financial conditions and respond to competitive imperatives. There is early evidence of a( S' q7 X' J" `* D! y$ L
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.
3 ^" \! N+ H& L3 y; j  KHowever, the export sector continues to face considerable challenges from the cumulative effects1 ?$ T% O' f3 V, e+ j& ^9 X
of the persistent strength in the Canadian dollar and Canada's poor relative productivity
5 y7 j+ Z# X  b& f8 |6 _; Aperformance.# w: K8 c# X9 [! X# j& g7 X8 h) H
- x0 P  y' ?3 V  }
While global inflationary pressures are rising, inflation in Canada has been consistent with the+ k. @' d. t% Q2 A( }2 P* t
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the0 D9 P7 Z  A; V. ~# F" f: G
considerable slack in the economy.
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. P) }; x- q: O/ f: [& f  ?+ M6 iReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate+ L0 i( s# Q6 R/ h
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
: m0 T) K- C# k+ M2 per cent inflation target in an environment of significant excess supply in Canada. Any further  `; J$ i' F9 p! J8 S6 K. V
reduction in monetary policy stimulus would need to be carefully considered.! W  a8 P. A/ v. x
Information note:$ m2 R$ b# V3 V% t, J  y
9 w) o* E; Y; K. N
The next scheduled date for announcing the overnight rate target is 12 April 2011.
大型搬家
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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