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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.9 e5 k  |$ G3 e

0 B4 q- p+ B* h; L0 v( H4 E* hThe global economic recovery is proceeding broadly in line with the Bank's projection in its; H& f+ x! i1 L# j6 B+ O! k( D
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
0 m* O0 h$ _' G2 S4 b6 Asolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
: _. {% k% P9 E' V+ _challenges associated with sovereign and bank balance sheets will limit the pace of the European4 T+ Y9 N# i( N
recovery and are a significant source of uncertainty to the global outlook. Robust demand from) N" y5 r/ k  S& _  J( I
emerging-market economies is driving the underlying strength in commodity prices, which could
6 j5 a1 v" Z+ xbe further reinforced temporarily by supply shocks arising from recent geopolitical events.
2 l) x0 L+ r3 J# L0 X5 q* x, }% j9 B1 A0 A( y) A
The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
! H9 f! x& T: h" q% i" jthe anticipated rebalancing of demand. While consumption growth remains strong, there are
& `2 F8 J6 m& A; Y. N. z+ nsigns that household spending is moving more in line with the growth in household incomes.
/ ~, w: s! S- F* L" C6 sBusiness investment continues to expand rapidly as companies take advantage of stimulative* u  ~8 K: z4 B4 j; P( A8 S3 v
financial conditions and respond to competitive imperatives. There is early evidence of a8 |/ S5 i7 s* Q
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.; T1 l" d! J( E, W  ^
However, the export sector continues to face considerable challenges from the cumulative effects" m$ \1 X* q7 T( k  P
of the persistent strength in the Canadian dollar and Canada's poor relative productivity
$ I! g9 f# M0 L+ J: C7 V, Xperformance.
6 E' J( K( G! }+ ?( [9 Q7 L+ Y; K/ z- ?& m, V
While global inflationary pressures are rising, inflation in Canada has been consistent with the
% J  I! W$ P. I1 H$ w# }. GBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the3 n; I. b5 ^% G
considerable slack in the economy.
% V/ B/ P- g/ R' m
; M2 ^+ m" n  X/ [4 b/ C6 R, LReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
) O( M" r8 m; wat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the+ B; p: D% ~8 \) X
2 per cent inflation target in an environment of significant excess supply in Canada. Any further
: L3 q1 L6 a" e! Z# @reduction in monetary policy stimulus would need to be carefully considered.  ]: S( t, ~2 V0 I  w, t# g
Information note:
5 i/ H4 N0 `$ K5 ^  k7 z* k
3 [: l" N: @* v) N& q3 C8 n# @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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