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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.+ a1 u( M' q. _( @  _# s3 m3 u

7 I, N  j' h5 e6 {4 zThe global economic recovery is proceeding broadly in line with the Bank's projection in its
5 H' }& G% L% t' B8 b; MJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
8 v) _) G7 \4 ^solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing* `( c) `# \: _/ q8 b: {9 Y  L
challenges associated with sovereign and bank balance sheets will limit the pace of the European- L* W- ]$ L& ~7 g: _" L. h1 ~: x
recovery and are a significant source of uncertainty to the global outlook. Robust demand from* o2 s" ^) Q8 d0 X# t# m3 Z5 J2 |
emerging-market economies is driving the underlying strength in commodity prices, which could
/ I' C. w4 f2 d- I' hbe further reinforced temporarily by supply shocks arising from recent geopolitical events.8 l7 o" h* c: a, _; O( I* ], n
2 H) G0 \% ^- d8 D4 a8 c. W1 h
The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
* ?) ]* Z) \  N4 k  x) tthe anticipated rebalancing of demand. While consumption growth remains strong, there are" v6 B4 R/ o/ t$ q# r+ e/ _
signs that household spending is moving more in line with the growth in household incomes./ ~% T3 x1 l# ^7 Q
Business investment continues to expand rapidly as companies take advantage of stimulative0 ~1 W: P" L/ l7 B6 [' [
financial conditions and respond to competitive imperatives. There is early evidence of a8 F3 Y5 Z/ I; H9 n# V& k' a: l- k
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.
  o1 ]5 Z5 h* x+ a: `However, the export sector continues to face considerable challenges from the cumulative effects) k4 _; c" o) O
of the persistent strength in the Canadian dollar and Canada's poor relative productivity
' {5 d1 B0 `  i/ y. zperformance.9 b3 k/ @0 j0 }6 S
6 F4 O/ N4 \) \$ t
While global inflationary pressures are rising, inflation in Canada has been consistent with the, f0 @" e% \6 A* s$ ?  x! w3 }2 M
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
2 F6 \, r9 r0 |, ?3 Dconsiderable slack in the economy.
% q: V! N, H6 z* f$ c8 i# b7 Y$ s8 j% s6 g( [4 ]
Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate$ O3 L0 i, a, G
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the9 W% k4 _/ p$ p
2 per cent inflation target in an environment of significant excess supply in Canada. Any further
3 q9 t$ N" ^: j/ ?/ d  E, Z3 dreduction in monetary policy stimulus would need to be carefully considered.& w$ g+ d9 r8 s# E+ r
Information note:
: s9 m, f  y' W6 ]: B9 s
) e! V. ~$ x+ [! KThe 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.
理袁律师事务所
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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