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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
. E; T' A; C! {January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
4 m2 @7 C9 J" f3 ~5 @+ X6 F; S6 @solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
# @' ]1 o! m8 y. {* a' i5 w& kchallenges associated with sovereign and bank balance sheets will limit the pace of the European/ R! |$ R" ?& X
recovery and are a significant source of uncertainty to the global outlook. Robust demand from# o: x7 A: ^  z( D2 \3 ^& p( V
emerging-market economies is driving the underlying strength in commodity prices, which could0 j7 a" `+ r) K6 j7 H9 ~
be further reinforced temporarily by supply shocks arising from recent geopolitical events.( K2 L! m) ]: s/ n1 M
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The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of! \; r6 T8 K0 u' V$ u
the anticipated rebalancing of demand. While consumption growth remains strong, there are
2 a2 q" c1 W; ?4 Q5 i& j0 J- Gsigns that household spending is moving more in line with the growth in household incomes.
! L1 l$ q- H2 s2 H; bBusiness investment continues to expand rapidly as companies take advantage of stimulative5 a0 d' c) a, B! f/ d
financial conditions and respond to competitive imperatives. There is early evidence of a
4 V+ i. |5 @& X" W1 r$ z, orecovery in net exports, supported by stronger U.S. activity and global demand for commodities." k" y# r* v( v( G
However, the export sector continues to face considerable challenges from the cumulative effects# e# j( r1 ~( a7 j5 R+ r3 n0 l
of the persistent strength in the Canadian dollar and Canada's poor relative productivity
9 w6 u: q/ C6 I6 Sperformance.$ l- M# n. s! \" \0 m& s

0 E& \6 ]# Y2 _% @0 M2 {* t/ FWhile global inflationary pressures are rising, inflation in Canada has been consistent with the
$ ]% A; _6 \4 M( L( A5 H7 j# t; E. DBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the7 o3 U2 z8 b; ]' i- T* y' @
considerable slack in the economy.
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Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate/ Q2 e9 D2 u4 A7 `
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
; b5 _' ]+ B; V/ t: ?: M! V, O$ P2 per cent inflation target in an environment of significant excess supply in Canada. Any further
; z! w/ w, X& B  \reduction in monetary policy stimulus would need to be carefully considered.; R) b; I* Q: J( Q" K! H1 M' q3 P
Information note:; E) \: m( J; R; f
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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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