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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.
" m* a$ x, _* u6 Z! A4 n- y% k4 e* X3 b, c
The global economic recovery is proceeding broadly in line with the Bank's projection in its
# L5 H3 n- R2 ^. u1 GJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is, E: n4 W0 a5 i6 c
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing- K! }9 I5 \) g" n
challenges associated with sovereign and bank balance sheets will limit the pace of the European2 M1 O$ G! I+ L: t4 r4 w
recovery and are a significant source of uncertainty to the global outlook. Robust demand from
9 _. Y' R  J9 N, kemerging-market economies is driving the underlying strength in commodity prices, which could
$ c# j. V/ N' Gbe further reinforced temporarily by supply shocks arising from recent geopolitical events.
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4 ]/ p8 p& X7 L4 I7 C* e$ P+ h6 IThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
& E5 L" G8 ~$ uthe anticipated rebalancing of demand. While consumption growth remains strong, there are
" o; [8 B7 M& Ksigns that household spending is moving more in line with the growth in household incomes.
$ U( M  u6 u6 c. f  gBusiness investment continues to expand rapidly as companies take advantage of stimulative
" s& j& x$ d* e" {& n7 P2 L3 S+ n; pfinancial conditions and respond to competitive imperatives. There is early evidence of a
% Z  w. H# P2 H2 |) z! urecovery in net exports, supported by stronger U.S. activity and global demand for commodities.
% _5 r2 L2 {0 P9 S4 UHowever, the export sector continues to face considerable challenges from the cumulative effects4 P/ e7 ]. t, a$ g
of the persistent strength in the Canadian dollar and Canada's poor relative productivity3 H5 m+ v. O( r* V) Z- V" z
performance.1 B9 N, _- L1 Q6 h

) R( ?* w% `$ Y6 R* CWhile global inflationary pressures are rising, inflation in Canada has been consistent with the
) d0 O) A+ f1 X) ~  b& V  ?- B$ ]$ {Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
+ p9 b  b2 G3 X5 w, w4 aconsiderable slack in the economy.
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Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate1 t* U! V0 U  ~. S+ q" C
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
3 A: W6 V) j) N. j2 per cent inflation target in an environment of significant excess supply in Canada. Any further
* C. k2 j7 K0 m. l" G# B/ mreduction in monetary policy stimulus would need to be carefully considered.
: N; y/ {* p) A5 v& i; u4 yInformation note:
2 R- ]9 s$ n/ U0 Q, ~  H, e
* ?3 t7 V2 b2 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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