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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.$ i) N6 @3 O; y7 p- t0 H
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The global economic recovery is proceeding broadly in line with the Bank's projection in its* g. z! ]  `* \
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is5 e" k' M# R" H. A  R/ w3 S
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing0 q  @, V1 |- U0 o: @
challenges associated with sovereign and bank balance sheets will limit the pace of the European
, v4 U  S# s3 [. Hrecovery and are a significant source of uncertainty to the global outlook. Robust demand from8 I" g9 K/ p0 x1 {8 ?( d  n
emerging-market economies is driving the underlying strength in commodity prices, which could/ k2 a. a5 G" e% s5 D! p
be further reinforced temporarily by supply shocks arising from recent geopolitical events.. _# ?- f" o5 Y- p, B

5 \" s: c# ~3 ]5 Z+ b( w  \+ N/ ]( ?The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of6 Z5 C& U7 q0 ?0 A: M4 u6 h2 c
the anticipated rebalancing of demand. While consumption growth remains strong, there are: v/ ~9 ~4 ^1 c* L
signs that household spending is moving more in line with the growth in household incomes.- j5 C5 A- A! i/ v9 b! u
Business investment continues to expand rapidly as companies take advantage of stimulative
: {' A% j! C) O* l: rfinancial conditions and respond to competitive imperatives. There is early evidence of a
$ K2 t- d+ z" \4 Q& i& S3 Z# I! zrecovery in net exports, supported by stronger U.S. activity and global demand for commodities.
# {* u- S9 l$ s3 m2 LHowever, the export sector continues to face considerable challenges from the cumulative effects
# P$ [, U9 }0 p  Qof the persistent strength in the Canadian dollar and Canada's poor relative productivity
4 Y* ~4 P+ ~* A4 @3 H) o! yperformance.
; _- L2 U$ X, f6 F) v, [$ V4 z9 Z4 l  X1 P& D
While global inflationary pressures are rising, inflation in Canada has been consistent with the
5 l$ b- a" q* I4 VBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
* X) E& X8 W8 n# @% Uconsiderable slack in the economy./ s: Z/ r, i7 x/ f% \
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Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate; c$ r" x  w' l) _3 Y
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the# o8 K4 {9 c9 Y7 t6 J, |$ w) A4 n
2 per cent inflation target in an environment of significant excess supply in Canada. Any further* Y2 E, M& h: s3 g6 ]
reduction in monetary policy stimulus would need to be carefully considered.
$ D* O5 Z0 d* v! y" eInformation note:
$ ]( `/ Z! [" b, p- Y6 H' F+ ]( n6 s- |/ {
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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