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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
老杨团队,追求完美;客户至上,服务到位!
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.# }% U. w  X  r  D
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The global economic recovery is proceeding broadly in line with the Bank's projection in its* K( ], R9 V; O- ^: ?" V
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is( F5 z; ~* G+ t1 F/ \6 i$ W+ _
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing' u1 Z# [% T- |& N% y& F- m
challenges associated with sovereign and bank balance sheets will limit the pace of the European4 @# d6 ~; H2 ~5 M% ^* y
recovery and are a significant source of uncertainty to the global outlook. Robust demand from8 n! T0 \; n$ |" B3 l
emerging-market economies is driving the underlying strength in commodity prices, which could
% Z$ N% g8 ]+ h6 ?be further reinforced temporarily by supply shocks arising from recent geopolitical events.# m2 o" H6 S+ \3 ?8 b

/ j- N! G# X' K# s& SThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of0 u% w$ Y. z$ e: z
the anticipated rebalancing of demand. While consumption growth remains strong, there are8 E0 ~  Y# u+ k4 ?1 e1 d- y* o0 M( _, k
signs that household spending is moving more in line with the growth in household incomes.) U& i) n3 m' y4 Y
Business investment continues to expand rapidly as companies take advantage of stimulative( Z6 k) d, f& j4 r0 U  S4 h2 W
financial conditions and respond to competitive imperatives. There is early evidence of a3 B4 a6 c7 @& \
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.4 \) l; Y% D9 Z' c) F; ^
However, the export sector continues to face considerable challenges from the cumulative effects
2 q) k8 V, }! `, S/ o) V' q5 a( a3 y/ _of the persistent strength in the Canadian dollar and Canada's poor relative productivity
. m; t4 y# e4 S* q  Lperformance.2 z& Z# S! S# X' [' ]! R9 _- R
) u8 w( [9 a! q# P$ t* D
While global inflationary pressures are rising, inflation in Canada has been consistent with the  |; G8 C6 \6 s6 {; O3 L
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the9 b& Y6 @! e0 a8 c# n
considerable slack in the economy.; b, E: o4 }7 V9 ]

: k4 ~+ P8 w3 U$ P6 X4 OReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
& x$ T1 N7 d/ t' S" Iat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the8 }) T  u) r) S/ p7 b/ d3 c" j
2 per cent inflation target in an environment of significant excess supply in Canada. Any further
0 `; v; W* \, B, f& W& C1 L# |8 L: Ereduction in monetary policy stimulus would need to be carefully considered.
+ u0 ^/ x! u  U; E1 V! U# J$ xInformation note:
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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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