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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./ s1 A- m, X* N2 j  l. `' Q
7 O, t6 Y& W/ A0 `) P7 n+ G
The global economic recovery is proceeding broadly in line with the Bank's projection in its
# t5 k2 W, U3 O* l, k$ x" cJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
' I4 H& ~3 u; R7 ]- rsolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
+ l8 }( O1 S: ]# M* Q9 ^1 {$ Mchallenges associated with sovereign and bank balance sheets will limit the pace of the European
* [) {3 H) ~: S' a! f2 trecovery and are a significant source of uncertainty to the global outlook. Robust demand from: M, V8 `9 v2 D4 F- ~( }# `
emerging-market economies is driving the underlying strength in commodity prices, which could" @9 ^1 P4 w* T/ n
be further reinforced temporarily by supply shocks arising from recent geopolitical events.
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( }& G& a% T8 _( J# F+ E1 u7 YThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of5 l" q8 |% x3 F9 Y/ D
the anticipated rebalancing of demand. While consumption growth remains strong, there are; d7 M; c( y& Z" K5 D
signs that household spending is moving more in line with the growth in household incomes.. k+ e1 K; |8 S9 y. F
Business investment continues to expand rapidly as companies take advantage of stimulative
: y! S5 i2 l0 n* o$ _$ [4 [' Zfinancial conditions and respond to competitive imperatives. There is early evidence of a
4 T# r. n4 Z: h9 U- }" b/ h% Wrecovery in net exports, supported by stronger U.S. activity and global demand for commodities.0 z6 \! ]% S4 _9 W! _# k$ _/ u
However, the export sector continues to face considerable challenges from the cumulative effects7 `/ D  q+ Z0 r9 m+ A# x
of the persistent strength in the Canadian dollar and Canada's poor relative productivity" S% G; _. V/ l) v2 w' X3 A. A
performance.9 s; W6 T+ e$ L9 N" R. m: V0 p1 I

$ Q  [  i4 F4 vWhile global inflationary pressures are rising, inflation in Canada has been consistent with the( P2 q# D& b3 E5 }9 W' i
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the: _3 u- K# N$ j
considerable slack in the economy.: v1 z  Q# L3 f4 u6 H; Q, V

6 N; N/ |% Z3 [2 |Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate: ]: Y, M; l4 |4 @
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the. D  H5 Z4 W& [( Q7 L
2 per cent inflation target in an environment of significant excess supply in Canada. Any further
* {6 E: e3 v/ [8 T. @reduction in monetary policy stimulus would need to be carefully considered.
* C  Z2 S$ ]/ @; {Information note:0 l" Z/ i9 j2 e) B; X

; O% {2 e# k% c  fThe 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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