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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.
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  E8 v$ @% v0 T6 W) D& M( P( J" `The global economic recovery is proceeding broadly in line with the Bank's projection in its* m0 K* I$ {' V. x
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
; P1 r( k  p1 a0 Y' }% n7 {; ssolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
7 W8 t0 n9 {$ B! G6 H1 G; Wchallenges associated with sovereign and bank balance sheets will limit the pace of the European
# V! W& n, ~8 g& Q- ^: T8 Mrecovery and are a significant source of uncertainty to the global outlook. Robust demand from
( g4 V( ?0 k- q% o( q+ Aemerging-market economies is driving the underlying strength in commodity prices, which could9 _4 d0 h9 y! [: v$ t6 f. M6 M
be further reinforced temporarily by supply shocks arising from recent geopolitical events.
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The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of) n- J2 D, Q' N9 V* z1 O/ s# z1 {
the anticipated rebalancing of demand. While consumption growth remains strong, there are" Y9 T* z) k6 L- L/ n* J* s
signs that household spending is moving more in line with the growth in household incomes.1 P' ?( R# T. M( b! u! O
Business investment continues to expand rapidly as companies take advantage of stimulative* v3 E1 P1 I8 O/ \
financial conditions and respond to competitive imperatives. There is early evidence of a
5 S( d& Z0 W1 v, I- E# s" c4 J, Mrecovery in net exports, supported by stronger U.S. activity and global demand for commodities.4 _2 q" w, W. b' h  ~1 S: c4 n" Y
However, the export sector continues to face considerable challenges from the cumulative effects, z" W$ R4 u$ |* M
of the persistent strength in the Canadian dollar and Canada's poor relative productivity
& w6 N* w- ~8 L. s2 Bperformance.
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While global inflationary pressures are rising, inflation in Canada has been consistent with the
: L' d5 i* v9 `$ H6 J0 d1 bBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
1 n* p, @& h+ I% b; Bconsiderable slack in the economy.
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( H0 ?8 q1 b- O6 Z% ^& L' AReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
5 p$ m1 ]# H  ?  `" u' `" T# `# o5 qat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the- q2 Y( P$ k- d. y
2 per cent inflation target in an environment of significant excess supply in Canada. Any further% O7 U8 `" D( n* T( ?- X5 L
reduction in monetary policy stimulus would need to be carefully considered.$ _* h% ?- B0 D3 A/ b: Z1 X
Information note:
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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.
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.
理袁律师事务所
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