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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.- x& @% H5 a9 z7 g0 ?  C1 `

7 W& L) h; f( NThe global economic recovery is proceeding broadly in line with the Bank's projection in its
% H6 I9 ]* @0 H7 |January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is0 [$ [) w& c" I4 D" e1 y. e5 k
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing) `  W- j) R  i
challenges associated with sovereign and bank balance sheets will limit the pace of the European
( G) \0 t+ J* precovery and are a significant source of uncertainty to the global outlook. Robust demand from: [: @+ [6 l4 ?* I
emerging-market economies is driving the underlying strength in commodity prices, which could1 c9 k) a, ?8 C$ F2 ]  t
be further reinforced temporarily by supply shocks arising from recent geopolitical events.
8 d+ x- o3 _0 b" U$ Z' ^
7 M" c# R- d2 j0 y! V$ h: ]The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of0 F  `  Z/ m3 c0 M3 h/ ]
the anticipated rebalancing of demand. While consumption growth remains strong, there are( L$ n6 N$ m$ Y/ W3 N" E4 i9 E3 \4 ^8 u
signs that household spending is moving more in line with the growth in household incomes.) m$ i& I4 y% J; p: ]
Business investment continues to expand rapidly as companies take advantage of stimulative
4 A; _. H2 S5 [" X3 _% Dfinancial conditions and respond to competitive imperatives. There is early evidence of a! K. Y9 Q, l, i" V9 d
recovery in net exports, supported by stronger U.S. activity and global demand for commodities." e; u, i5 q$ [1 U% q* h0 k
However, the export sector continues to face considerable challenges from the cumulative effects( H8 J+ |# [- B: j* d) P  z  P
of the persistent strength in the Canadian dollar and Canada's poor relative productivity+ F1 D- c" O! |& [0 @) Q8 x5 y
performance.; Z1 W# U% V; v

/ G6 a, s* U2 W' A3 mWhile global inflationary pressures are rising, inflation in Canada has been consistent with the, X; v/ u1 r' v  j9 U6 t; @  W
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the1 c! h( E. {7 i1 f, b" |
considerable slack in the economy.  f/ s2 u3 L" y
8 s5 y9 Z& d+ Z5 W
Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate$ E7 r1 i8 S6 Y/ q* R
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the- R8 g  N% V5 A) _, Z  u
2 per cent inflation target in an environment of significant excess supply in Canada. Any further
) m& Y, U& j$ O- ]8 ^1 l/ nreduction in monetary policy stimulus would need to be carefully considered.  M% L6 \5 D; H0 E
Information note:' `0 Z$ V) }% i5 L& Q  F- C; b# T

. @, S8 a/ [5 h8 F9 [/ W' FThe 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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