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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.  s, b# W7 N  Z/ q0 b, _

; j9 P3 L) e% E1 j3 `$ t3 _* dThe global economic recovery is proceeding broadly in line with the Bank's projection in its
6 _& A& X) d3 B, f5 ~/ jJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is* e1 O4 p0 A* p' B9 V$ w
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
9 |: i9 L: |4 \+ ~5 uchallenges associated with sovereign and bank balance sheets will limit the pace of the European
' V- N% Z; i0 ?2 ?recovery and are a significant source of uncertainty to the global outlook. Robust demand from
- V! I9 o" A# `( Y1 \" T. `* H4 Temerging-market economies is driving the underlying strength in commodity prices, which could
1 h9 I' \3 W  C- d/ `: zbe further reinforced temporarily by supply shocks arising from recent geopolitical events.' g; P. J$ \' }, ~9 R( o+ b

- |% A# |# N; `# C, Q, z# F. XThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of8 o( J7 r6 ]! Z/ W3 _$ v1 H
the anticipated rebalancing of demand. While consumption growth remains strong, there are" X0 @" e5 F6 H0 ~
signs that household spending is moving more in line with the growth in household incomes.$ w4 a) y- |3 c
Business investment continues to expand rapidly as companies take advantage of stimulative" P& t* h* L9 T
financial conditions and respond to competitive imperatives. There is early evidence of a
/ |4 `8 o/ N& Y0 q" V5 A) Yrecovery in net exports, supported by stronger U.S. activity and global demand for commodities." b8 K  N& F, s; _
However, the export sector continues to face considerable challenges from the cumulative effects
" B( d+ W( O( W/ sof the persistent strength in the Canadian dollar and Canada's poor relative productivity* g7 {9 b. ]6 M0 w- K
performance.) u' ~" c9 \* P5 K0 ?
* P! M, s- T# T7 @# l* f
While global inflationary pressures are rising, inflation in Canada has been consistent with the2 }( }2 ]- `  j( n9 ?
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
* X; F, e. |7 T8 C3 {considerable slack in the economy.8 e4 n8 o2 o2 E9 u$ j: B$ Q

4 V& t8 l7 v# s7 V$ HReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
7 g9 q/ W1 @( l0 E2 cat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
& v7 l( B6 T4 Q- z( M- y+ ~0 p3 v  T2 per cent inflation target in an environment of significant excess supply in Canada. Any further9 X; [9 F! E2 r0 E
reduction in monetary policy stimulus would need to be carefully considered.0 i+ R/ \. I0 W* [* G
Information note:1 y# c; E6 L% L
6 A2 l& ?- h" ~' @
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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