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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
老杨团队,追求完美;客户至上,服务到位!
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., I5 W5 `' S0 L8 n

+ I& ]/ ?6 y: \: n( I( fThe global economic recovery is proceeding broadly in line with the Bank's projection in its2 R$ y7 Y* x3 q! ~+ _0 I
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
  H* g8 L" C. {* l3 [& nsolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing! v$ j1 i% l! R2 q, l% k/ n  N! h
challenges associated with sovereign and bank balance sheets will limit the pace of the European
9 k9 f) E- w: ~" ?  h7 drecovery and are a significant source of uncertainty to the global outlook. Robust demand from# D% E. O$ Z; f: ?% d. M
emerging-market economies is driving the underlying strength in commodity prices, which could
" W( k9 o# j9 Wbe further reinforced temporarily by supply shocks arising from recent geopolitical events.5 R, t) ?' W7 \  ~: [' j. v

8 Q5 x* l# T1 w4 C0 ~) Z/ M" XThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
1 Q: Z# j1 k. uthe anticipated rebalancing of demand. While consumption growth remains strong, there are( s) a1 R( Z$ V, n4 n2 _
signs that household spending is moving more in line with the growth in household incomes.
0 \9 C! W6 ?- a6 E8 a' CBusiness investment continues to expand rapidly as companies take advantage of stimulative' @  J6 H% U3 l. O0 h
financial conditions and respond to competitive imperatives. There is early evidence of a
# r; f9 Q- O4 g8 Grecovery in net exports, supported by stronger U.S. activity and global demand for commodities.
$ ]0 C% k. o8 s# b7 tHowever, the export sector continues to face considerable challenges from the cumulative effects( z1 M8 N; w, q# R
of the persistent strength in the Canadian dollar and Canada's poor relative productivity
( x' c( |5 V5 K0 K+ Pperformance.
" ^8 L! N( z! @; @' Q% k
6 D7 W$ v0 l  qWhile global inflationary pressures are rising, inflation in Canada has been consistent with the
; i" ~8 l! r$ sBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
$ v! K4 |) h) l- Z6 ^- oconsiderable slack in the economy.1 x$ ]3 |. ^8 A' @/ |- z( ~

4 {: y3 r- O4 B( X- s3 _Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate0 f. _  m8 k! k' [, H+ m# H
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
9 g2 E/ B% k0 z: V2 per cent inflation target in an environment of significant excess supply in Canada. Any further
6 j& h% l+ m' r/ ?reduction in monetary policy stimulus would need to be carefully considered.  ?/ \# B9 M4 P4 W- X' ?! n; I, e/ A; a
Information note:
$ s6 M+ @3 K4 p3 u1 ]9 q0 N
, A) U5 D5 \; L$ s: G" SThe 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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