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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.
( `  {* N! _& N1 l% [% g/ \* v+ x  u3 |8 r( A7 Y& G: N% u
The global economic recovery is proceeding broadly in line with the Bank's projection in its
7 C1 d% a- W% UJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is$ W/ ^" u/ U1 r$ }. X
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
! A5 e1 H6 G. ^2 h, P5 F/ kchallenges associated with sovereign and bank balance sheets will limit the pace of the European
* G; R' a  p- f2 d! Drecovery and are a significant source of uncertainty to the global outlook. Robust demand from* I, _4 E3 c3 A) L- }) y
emerging-market economies is driving the underlying strength in commodity prices, which could8 z# n) }* \* L4 {/ u* u" o
be further reinforced temporarily by supply shocks arising from recent geopolitical events.& l0 F5 |+ P$ |9 `0 n# \
: l; U& p0 T, P( M
The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
4 ~* `# o) D5 qthe anticipated rebalancing of demand. While consumption growth remains strong, there are
8 J5 l8 ~$ B+ J7 osigns that household spending is moving more in line with the growth in household incomes.9 v9 m3 u4 a& d4 C' {. }5 o
Business investment continues to expand rapidly as companies take advantage of stimulative
3 g! S! [% M$ p; c2 k1 u1 T, ]financial conditions and respond to competitive imperatives. There is early evidence of a; V4 P5 q3 u9 ^; C: n9 @( d
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.+ H3 r& v; J7 z( X6 [
However, the export sector continues to face considerable challenges from the cumulative effects
, s$ l* i8 W  y# n4 @( N. eof the persistent strength in the Canadian dollar and Canada's poor relative productivity
' h9 J0 C' z; Aperformance.
; i( K  r1 u4 W' V2 f$ E9 P2 }) }% v# |7 S+ K
While global inflationary pressures are rising, inflation in Canada has been consistent with the- K( i0 q) ~2 d# A8 F" n
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
/ @8 k8 O$ q" m% ^$ W6 Sconsiderable slack in the economy.
8 G- d: m5 y2 H1 D
: z* V# w5 K; |7 O; o, AReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate, \9 y8 ^  y  W! B) c3 w/ K
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
! Z% b: {2 L# H/ c$ Z; L* q2 per cent inflation target in an environment of significant excess supply in Canada. Any further: m  S! }4 b' [7 V" ~) D
reduction in monetary policy stimulus would need to be carefully considered.4 a( i0 N5 ~& U" E/ Y' l$ D/ V
Information note:8 T5 J6 B& j4 F# q1 w. |0 I, |

7 c- n- @8 L$ {# RThe 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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