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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.0 c  }8 N7 V1 T( ]+ B! B) G
1 i# h- o  f" n6 h
The global economic recovery is proceeding broadly in line with the Bank's projection in its/ {# y( ^% s/ {9 u- \" [
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
5 }. k( I1 k7 ^9 `solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing6 [9 `8 Q# Y9 d2 S0 C6 G
challenges associated with sovereign and bank balance sheets will limit the pace of the European9 p8 X4 W/ M9 U: `; h. i; i4 t2 s
recovery and are a significant source of uncertainty to the global outlook. Robust demand from
6 W7 E2 B; p( V" l  B  x2 ^8 g- Gemerging-market economies is driving the underlying strength in commodity prices, which could5 d% M: H  ^) V) ?* ]3 w3 E1 l# p
be further reinforced temporarily by supply shocks arising from recent geopolitical events.; Y# g) p) F3 j. k9 K; H7 U2 R

- K$ C1 n4 x; B5 H' C/ \The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
! I/ u0 }8 J1 S: E  I9 z! Vthe anticipated rebalancing of demand. While consumption growth remains strong, there are) k& P  }1 J  p1 R! @
signs that household spending is moving more in line with the growth in household incomes.5 ~- n8 L$ u  f0 o8 G
Business investment continues to expand rapidly as companies take advantage of stimulative
& `- M8 E0 E$ K) R, Y( J# Q3 [financial conditions and respond to competitive imperatives. There is early evidence of a
, \6 m- ^9 d% Y6 X8 h# r' b& N+ irecovery in net exports, supported by stronger U.S. activity and global demand for commodities.
+ y, `8 T) r- s# ]7 b$ OHowever, the export sector continues to face considerable challenges from the cumulative effects/ j2 j! x) t, Z4 {  D
of the persistent strength in the Canadian dollar and Canada's poor relative productivity. ~0 Q+ S' h6 x8 G( V) m: T8 A: j
performance.
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  [! o, \& a* Y6 k, x" }$ ZWhile global inflationary pressures are rising, inflation in Canada has been consistent with the
1 N* x8 T- \: Y9 D7 C; tBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
- x- K* o5 [+ s+ aconsiderable slack in the economy.7 B& b$ ~  g* m

" X; @# _" h) x- |( }$ ]Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
6 ^) d3 ~& b6 P1 cat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
" T5 v" ]9 e# A& O/ `2 per cent inflation target in an environment of significant excess supply in Canada. Any further. n) x+ w& n9 N8 U
reduction in monetary policy stimulus would need to be carefully considered.5 E$ k# p9 w( Y: q* R9 N2 h
Information note:: w+ w9 Z; r! B3 [

3 j& }- O1 ^: D  a9 h! }+ xThe 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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