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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.5 p) {5 Z/ E- y- X/ L" s9 E

2 r$ h# g7 a4 q4 L! ~- WThe global economic recovery is proceeding broadly in line with the Bank's projection in its
; W: k5 {) i  D% Q3 U/ `January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is6 L6 W% T. W( q4 L. l9 f; t) }
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing/ w6 m) y0 h* B4 B
challenges associated with sovereign and bank balance sheets will limit the pace of the European
  J2 q+ M- l7 d5 Lrecovery and are a significant source of uncertainty to the global outlook. Robust demand from
: |& |+ W2 t' _emerging-market economies is driving the underlying strength in commodity prices, which could
1 a% c' S$ ~& O/ e& H4 [8 ^# Ube further reinforced temporarily by supply shocks arising from recent geopolitical events.
% Z# \: r; D" I1 |" ^
( s4 E1 a, K( j) f: Z2 RThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
( _+ l" Q" O& U, l9 t* m! b5 J" sthe anticipated rebalancing of demand. While consumption growth remains strong, there are
5 |. ~5 C) ^' b0 o6 bsigns that household spending is moving more in line with the growth in household incomes.
3 Y2 N* T8 A1 {/ z. U( a0 t" EBusiness investment continues to expand rapidly as companies take advantage of stimulative
7 E% q: y1 }  _1 M# ofinancial conditions and respond to competitive imperatives. There is early evidence of a+ r+ x; U) ]8 J: V
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.( n& i  F3 L. G/ u& b7 M8 Y- F
However, the export sector continues to face considerable challenges from the cumulative effects
) I! T% O0 P. g- t, a. t" ~+ uof the persistent strength in the Canadian dollar and Canada's poor relative productivity8 A) n1 @  @  d2 B
performance.
! M- t7 f. @: T! y
2 b$ P- r/ [: W& G8 \! XWhile global inflationary pressures are rising, inflation in Canada has been consistent with the
7 |2 C; b$ y5 B/ l; x5 HBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
$ b" Y1 X2 R. W# xconsiderable slack in the economy.# B' g1 T; X- P& o$ b! u7 G

4 i% v% n" l  K" b. UReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
2 o8 z9 L: b  |5 S9 A" `at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the  s, ^1 k2 ?$ m+ F1 Y3 D
2 per cent inflation target in an environment of significant excess supply in Canada. Any further  ^' C$ }! q+ [. X- j& g' Q
reduction in monetary policy stimulus would need to be carefully considered.
/ f/ D. d& x: V% e, j- aInformation note:
, M7 S3 [. L% h8 H0 e8 l- U) A
9 v, s* a! s. ?: h5 [' l7 qThe 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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