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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.2 o$ r6 [6 N" F1 l( T8 a8 T; W

+ R! T, Z% O" U7 `. N' `The global economic recovery is proceeding broadly in line with the Bank's projection in its
* G- Y# N- }/ z1 h9 {2 M0 e6 EJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
3 J# r1 ~5 q' v2 D5 ^( esolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
$ K4 x: l+ f% x0 {challenges associated with sovereign and bank balance sheets will limit the pace of the European, e5 ~* q6 \8 a+ J0 A
recovery and are a significant source of uncertainty to the global outlook. Robust demand from: [6 q+ \. l$ d( J0 j0 a
emerging-market economies is driving the underlying strength in commodity prices, which could+ I4 E0 z8 G/ O1 H6 {
be further reinforced temporarily by supply shocks arising from recent geopolitical events., b, I: z9 E' }8 h- h) a( L( Q0 r
  F1 C5 ]5 z- E% r; j, w
The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of0 p' k% e) r+ w) ?; d. E
the anticipated rebalancing of demand. While consumption growth remains strong, there are, v3 z# d" g0 J: y1 ]2 y& q  D
signs that household spending is moving more in line with the growth in household incomes.
* m- X/ @& k6 I+ T2 o' H! v# C' h% gBusiness investment continues to expand rapidly as companies take advantage of stimulative# ^5 F# a& A8 |& |$ m$ o
financial conditions and respond to competitive imperatives. There is early evidence of a
0 y2 x$ o4 @; y$ d1 [recovery in net exports, supported by stronger U.S. activity and global demand for commodities.
! ^! l1 @5 [# h& I9 QHowever, the export sector continues to face considerable challenges from the cumulative effects
5 A2 ^$ a: t2 y" T$ h' F6 O  Mof the persistent strength in the Canadian dollar and Canada's poor relative productivity
" m$ l, T# K) u2 t- d" Q# I* hperformance.
$ d* l4 x" D/ H2 r8 N8 }( z9 s5 ^: G4 w/ t1 y, T3 D& V9 g$ k
While global inflationary pressures are rising, inflation in Canada has been consistent with the
8 N$ s" x3 O$ l8 v. VBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the8 t) R- t# [+ C8 o0 b: o  i8 b  N
considerable slack in the economy.
3 z  Z) o0 I/ ]8 _' Z0 ?$ a& J. v: A; n! q
Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
8 C2 r+ M* W! V( G' Sat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the% N( D+ L2 s# N+ a; b% B
2 per cent inflation target in an environment of significant excess supply in Canada. Any further; A* r; z1 z/ o" f7 f1 K+ z6 H, G8 }
reduction in monetary policy stimulus would need to be carefully considered.5 F5 F8 K) ~9 l- c" ^
Information note:
4 V& b3 B& N* E9 B8 [4 I
2 c1 x& |; u. V6 q. N1 KThe 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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