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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 h. @: Y5 {3 z# i. O( F! A

8 @7 ^! O7 [1 V3 \The global economic recovery is proceeding broadly in line with the Bank's projection in its
/ G9 _. k) P+ f- l. r5 {4 KJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
3 q) C, X7 L' D* F$ y2 Ysolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing. {3 m* n4 u: @7 j3 T* ~: D
challenges associated with sovereign and bank balance sheets will limit the pace of the European, Y" \# S7 z' v4 a
recovery and are a significant source of uncertainty to the global outlook. Robust demand from
) {8 N* w4 R0 p& A! l" Temerging-market economies is driving the underlying strength in commodity prices, which could
7 e7 ]2 H# c1 }1 j* T$ c. N! b* Qbe further reinforced temporarily by supply shocks arising from recent geopolitical events.* G! h/ E) W: T4 o5 q, L' g
( F, w  c0 }3 S% X5 C& T0 F
The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
2 b/ B& V6 s5 j% A$ a7 Wthe anticipated rebalancing of demand. While consumption growth remains strong, there are- B1 {) L8 w$ p( ~  o( D2 x
signs that household spending is moving more in line with the growth in household incomes./ x8 D! r) t. t7 `) X
Business investment continues to expand rapidly as companies take advantage of stimulative: Y5 Q# Z; w. i# ~
financial conditions and respond to competitive imperatives. There is early evidence of a/ B1 Y6 \# s8 _& U" d
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.
: M0 ^- _  c& A6 Y) D% BHowever, the export sector continues to face considerable challenges from the cumulative effects
) N6 v, p- T: x% Tof the persistent strength in the Canadian dollar and Canada's poor relative productivity
" [  ?) D9 c5 f: Yperformance.
5 G/ S% b* U8 ~+ p
9 F  C3 V6 ]+ r( Z9 w3 O7 VWhile global inflationary pressures are rising, inflation in Canada has been consistent with the
) |: Y8 |) W$ X, q- B, xBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the: W4 E# y+ e* V0 z% ~
considerable slack in the economy.
+ n( z5 C4 a8 x7 P7 @! m# j: q) J- y5 T% y6 _1 o7 W
Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
( r# C! x( U5 @- n) z7 W' H/ l( ]at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the) }1 ]! B) B0 l# n# w% Q
2 per cent inflation target in an environment of significant excess supply in Canada. Any further
) }& v( ]5 b8 o. p2 H6 f2 Jreduction in monetary policy stimulus would need to be carefully considered.+ T+ V. V# j2 ^. m( y9 \, ]
Information note:. h) q% T# l1 e" a5 l. Y  o" {
9 T1 V+ {9 m' Z# l' R6 o7 ]
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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