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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.7 Y% s& J& {5 Z2 S6 h

# K" A7 P, }1 w) B- aThe global economic recovery is proceeding broadly in line with the Bank's projection in its' E! P: C/ }! u% [& d
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
3 Y9 F# h! \# gsolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
+ n5 L6 Y2 a- l6 Jchallenges associated with sovereign and bank balance sheets will limit the pace of the European& B, Y% I/ _" E1 D7 s
recovery and are a significant source of uncertainty to the global outlook. Robust demand from
4 i# k, K' m: h  a! l' Cemerging-market economies is driving the underlying strength in commodity prices, which could* h* K5 Y# L* W; N
be further reinforced temporarily by supply shocks arising from recent geopolitical events.! K4 l# g3 n" b# q7 C$ \/ i4 `5 \/ \
% t# Z3 l7 f( e1 J7 }2 \. f" v
The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
! [% Q! n; X3 l5 lthe anticipated rebalancing of demand. While consumption growth remains strong, there are
0 p. z; {& u3 s! B6 [signs that household spending is moving more in line with the growth in household incomes.! M2 l, _, b* g9 [' m' Y0 h
Business investment continues to expand rapidly as companies take advantage of stimulative& U# P9 ]4 @( l6 j+ c
financial conditions and respond to competitive imperatives. There is early evidence of a
" I* e: ]6 a& P) Hrecovery in net exports, supported by stronger U.S. activity and global demand for commodities.
, _7 d. M* x% y; m4 v- Z# ^However, the export sector continues to face considerable challenges from the cumulative effects
( X- H& S  L  w' _of the persistent strength in the Canadian dollar and Canada's poor relative productivity: R+ C  H; ~# d- D2 T8 T7 e
performance.0 Z$ u+ T, V0 w* B
7 P6 l: r7 F4 z5 w
While global inflationary pressures are rising, inflation in Canada has been consistent with the
0 P* K# z8 u: [( IBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the" A2 C' i) F0 M: q7 R
considerable slack in the economy.
, W; ~! ~- w% }  V7 j' P. Y$ c; |" V, x0 Q3 H5 Z3 T' a: p2 t
Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate* m- S( j! P: e: e; ~8 q
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the/ ]5 a0 [& @5 a4 |' B* [
2 per cent inflation target in an environment of significant excess supply in Canada. Any further: P: \- X' J0 w4 S
reduction in monetary policy stimulus would need to be carefully considered.8 q9 P( H) o5 }" _
Information note:1 Y' D' ^1 g5 l9 P& M  B
. g6 |# k0 ]$ U% X. V
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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