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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.9 B7 E: H% ^/ R8 y, I0 a4 H" z4 |
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The global economic recovery is proceeding broadly in line with the Bank's projection in its
* L* m; ^5 S  l$ EJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
# b$ h1 g5 `; h  n6 g& f$ _solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
! x6 \8 i1 T9 `( K+ qchallenges associated with sovereign and bank balance sheets will limit the pace of the European
7 u7 a1 {6 t3 g- Grecovery and are a significant source of uncertainty to the global outlook. Robust demand from8 q6 y: l6 \9 \. r
emerging-market economies is driving the underlying strength in commodity prices, which could
1 v. u8 V6 ~' o4 f! \0 _be further reinforced temporarily by supply shocks arising from recent geopolitical events.
2 J1 d8 y9 ~6 y$ \, r
2 \+ W3 Z# }% N  CThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
. z' x6 R/ T& Y" x/ bthe anticipated rebalancing of demand. While consumption growth remains strong, there are
  `& |# a, z: Lsigns that household spending is moving more in line with the growth in household incomes.
1 }5 ?6 k# u" R" B1 R# oBusiness investment continues to expand rapidly as companies take advantage of stimulative
4 H1 z  G3 Q1 Yfinancial conditions and respond to competitive imperatives. There is early evidence of a; X+ y1 ?! N# f, x
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.) M" m# \7 m7 `( }8 @
However, the export sector continues to face considerable challenges from the cumulative effects6 f0 A0 K7 U# g/ |/ M' r2 S. m) s4 I4 ~
of the persistent strength in the Canadian dollar and Canada's poor relative productivity
) b( p! X' x4 w+ V/ nperformance.
& L  B. ^7 K0 C/ j9 I& Q
. w8 Y2 W3 U7 v* WWhile global inflationary pressures are rising, inflation in Canada has been consistent with the
# {' U. g( b6 t* fBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
2 M. S* R7 e6 S8 C! o/ A2 M1 v- Iconsiderable slack in the economy.
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Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
0 e9 a1 _% g4 Z+ g2 z. g. oat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
* D8 C4 t' Z1 ]2 per cent inflation target in an environment of significant excess supply in Canada. Any further
% w* m' n9 n: @( ^reduction in monetary policy stimulus would need to be carefully considered.& B1 l. z/ d9 J" m2 H
Information note:
0 Y. r5 j" M! |( ^0 S
' x4 u% {# H) m4 j+ C( t) AThe 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.
大型搬家
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.
大型搬家
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