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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.8 j6 A6 K, C$ {9 ~

# m  [# C& n$ K5 l9 BThe global economic recovery is proceeding broadly in line with the Bank's projection in its
5 z! Y( ~. w- D+ r, h6 b5 m' Q8 }, }January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
6 L2 A/ G5 ^  H& V+ Z# }, ]7 S+ Psolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
: C8 \& C$ `; v7 J- Qchallenges associated with sovereign and bank balance sheets will limit the pace of the European
- X: |0 m6 C: {. brecovery and are a significant source of uncertainty to the global outlook. Robust demand from% j" j5 p5 [% D5 h7 f) _9 M
emerging-market economies is driving the underlying strength in commodity prices, which could3 V7 u- w$ X4 L- C! x3 q
be further reinforced temporarily by supply shocks arising from recent geopolitical events.
2 ^, u$ Y+ \6 a9 j3 |: L
; P( p) c0 T  y5 u' U3 }, PThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of! r' P; I6 J" T# A: J
the anticipated rebalancing of demand. While consumption growth remains strong, there are/ @' v4 k9 g4 w% n" B8 ^5 t+ g# i& S
signs that household spending is moving more in line with the growth in household incomes.
& j: [/ L8 M& Z7 @6 @; s1 XBusiness investment continues to expand rapidly as companies take advantage of stimulative% o% S2 o: S6 f. z
financial conditions and respond to competitive imperatives. There is early evidence of a
- i6 U; n" g: e) }! ?+ [$ hrecovery in net exports, supported by stronger U.S. activity and global demand for commodities.
0 `3 s- ^' q  O! u; U/ y% \+ }However, the export sector continues to face considerable challenges from the cumulative effects' y8 Y" c$ d3 f  }, o
of the persistent strength in the Canadian dollar and Canada's poor relative productivity4 b$ V( T5 h, s
performance.
5 L6 ?8 {& @3 p: o5 j. f7 v
, ]) r& d6 e. [9 A6 Y" XWhile global inflationary pressures are rising, inflation in Canada has been consistent with the, X4 O- s5 [: N$ C
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the2 q6 `  I1 f* z, A9 l1 r$ x$ C+ @
considerable slack in the economy.. B6 \8 Q6 W# C* L% g+ v

! P1 |7 g5 Q: f- sReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
2 r% m) \- `2 i+ t1 x% pat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the" j0 a. K0 P+ N& p" Z$ l6 e1 b
2 per cent inflation target in an environment of significant excess supply in Canada. Any further
) M+ C6 N+ {  |" {+ Q$ zreduction in monetary policy stimulus would need to be carefully considered.
6 f% V& J, ^( L, Q, ?4 XInformation note:" U0 i* q) Q8 K" s5 I2 s3 ]! u( `3 l
) L! C/ L% V; f. r, X% n
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.
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