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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.2 p( h/ ~8 a0 ]

9 h2 z* B3 B5 L  K4 zThe global economic recovery is proceeding broadly in line with the Bank's projection in its
9 W% _+ v( C1 E- Q0 A: GJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
; c( ]; E1 s3 Wsolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
, c; {. u6 N; s  Gchallenges associated with sovereign and bank balance sheets will limit the pace of the European
& ~0 V3 T" W- S1 A2 u7 m- erecovery and are a significant source of uncertainty to the global outlook. Robust demand from; V5 ?1 c3 \5 E. B
emerging-market economies is driving the underlying strength in commodity prices, which could# w, `) k/ _6 g0 x' k! X% Z
be further reinforced temporarily by supply shocks arising from recent geopolitical events.0 l+ ~9 q! P* D4 _6 w
+ V: u' ?( e7 u( O6 x
The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
8 T/ `6 C( E6 v( y- othe anticipated rebalancing of demand. While consumption growth remains strong, there are
: n9 T0 C) `( P. v) h9 a. X. Usigns that household spending is moving more in line with the growth in household incomes.
3 D" a# p8 L0 I/ m; FBusiness investment continues to expand rapidly as companies take advantage of stimulative: V; E( P5 P( m8 `7 B
financial conditions and respond to competitive imperatives. There is early evidence of a
: p# [, l! D  Y" qrecovery in net exports, supported by stronger U.S. activity and global demand for commodities.
- d8 ?+ n8 r7 w4 ~However, the export sector continues to face considerable challenges from the cumulative effects3 D; g7 S# j& s) c8 f, k
of the persistent strength in the Canadian dollar and Canada's poor relative productivity
) F, H( ^0 F' S2 L6 bperformance.) N" J# `: {; Z2 i# c1 m+ [
- Z9 \" |. Y; Y+ W
While global inflationary pressures are rising, inflation in Canada has been consistent with the" D8 O8 Q* h9 m9 r( f8 V
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the  S- _7 p+ P- J, N( n, c0 A
considerable slack in the economy.
: i( e1 j; c$ e9 F& x6 R+ C- o' k, \: d1 S3 h# N7 n4 O& n
Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate# I7 B7 Y; e' i' s4 Q
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the5 P9 Y* T9 W* W9 \1 ]% I( n; s
2 per cent inflation target in an environment of significant excess supply in Canada. Any further
( ^$ |8 S' ?+ W1 f) Dreduction in monetary policy stimulus would need to be carefully considered.
2 ?+ c8 s* ~+ e8 ?" Q- SInformation note:' I7 y- t: Z4 r, _3 E
4 {- K4 j' W1 s/ |6 C
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.
理袁律师事务所
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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