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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.
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The global economic recovery is proceeding broadly in line with the Bank's projection in its( y0 x. A. j* f: j7 l" d& v
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
9 S/ d% n1 b+ Gsolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
4 ^. O( {8 r! s/ m2 z* U$ lchallenges associated with sovereign and bank balance sheets will limit the pace of the European6 J0 N) ^& {$ [- P8 U7 a
recovery and are a significant source of uncertainty to the global outlook. Robust demand from, A0 _8 {2 S5 H8 \7 b
emerging-market economies is driving the underlying strength in commodity prices, which could
4 ^$ d3 b" c/ U9 `6 p* n: A) ^% X) qbe further reinforced temporarily by supply shocks arising from recent geopolitical events.
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; h, W4 ?+ J9 Q# r1 ]2 IThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of6 D7 x# Y5 g, g) T, I
the anticipated rebalancing of demand. While consumption growth remains strong, there are
- l. M2 v1 H5 y- D( vsigns that household spending is moving more in line with the growth in household incomes.
0 b" H) k! [4 k. WBusiness investment continues to expand rapidly as companies take advantage of stimulative
) `! |0 S" |' H# _financial conditions and respond to competitive imperatives. There is early evidence of a
( s& `2 g! u3 Q, S6 irecovery in net exports, supported by stronger U.S. activity and global demand for commodities.2 _% D4 b( z# w
However, the export sector continues to face considerable challenges from the cumulative effects- z( z: h% g: F- w; j. [, ^8 B
of the persistent strength in the Canadian dollar and Canada's poor relative productivity
: ~; @# j6 Y6 o0 gperformance.
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$ o5 ^) S3 W! I; S$ R" i8 f- rWhile global inflationary pressures are rising, inflation in Canada has been consistent with the* h/ W$ S  s; a' @0 Z+ S% ?( m! g% `, m4 [6 w
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
+ M: J* b& ]! `5 q6 [( r8 Sconsiderable slack in the economy.
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! ]3 a' M3 R" t! O5 N- H0 hReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
* P9 O" Y% }( _/ P8 @/ Pat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
4 Y7 s1 w6 t5 [' S# X4 a2 per cent inflation target in an environment of significant excess supply in Canada. Any further
+ `$ c; `4 p- s8 u, u" B9 ~* areduction in monetary policy stimulus would need to be carefully considered.
: C7 |2 X# G+ O. ]! }Information note:0 B- ~0 n+ v3 u2 z  V- N( \

5 Z( I3 q  S( M. `3 H4 WThe 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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