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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.
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The global economic recovery is proceeding broadly in line with the Bank's projection in its
3 T8 x4 ~9 U: R6 O+ AJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is. b$ M' w' r4 C6 g  T- N3 P* d
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
6 y  \* W: H& y! G- k0 Fchallenges associated with sovereign and bank balance sheets will limit the pace of the European
4 j5 T2 S8 Z' D" d4 `recovery and are a significant source of uncertainty to the global outlook. Robust demand from
0 u; N3 \+ t6 K* Jemerging-market economies is driving the underlying strength in commodity prices, which could  `  i9 J- L: X9 a3 E  ?! P+ @) G
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! V9 c- b% k' Z, }' }* R
the anticipated rebalancing of demand. While consumption growth remains strong, there are5 u2 W5 `3 e% s
signs that household spending is moving more in line with the growth in household incomes.& [; ^6 _& B- q# e& r, n
Business investment continues to expand rapidly as companies take advantage of stimulative8 |" ?$ G6 \& i6 \/ a
financial conditions and respond to competitive imperatives. There is early evidence of a
" Q  {8 l% Z) q- z0 w$ j% L& m+ s$ P- yrecovery in net exports, supported by stronger U.S. activity and global demand for commodities.
/ [% c1 ?% K- g: ~7 _& aHowever, the export sector continues to face considerable challenges from the cumulative effects) B( Z1 G) K1 _0 r
of the persistent strength in the Canadian dollar and Canada's poor relative productivity( a# z0 v" c% ^
performance.
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While global inflationary pressures are rising, inflation in Canada has been consistent with the
6 Z. n1 b% Y5 |; q5 GBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the8 ]% I1 d0 E1 i: a! G1 i1 A" v
considerable slack in the economy.
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$ {# B3 W+ Q3 a* b* m. pReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
2 v/ o) |/ F% N. `at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
5 Q/ Y0 `1 u" @# z2 per cent inflation target in an environment of significant excess supply in Canada. Any further
4 G, `4 ?( {' M+ Freduction in monetary policy stimulus would need to be carefully considered.
- g# k% V+ r  n8 V$ _Information note:3 i4 ~6 Y: U: Y+ W

) Y; p4 n, E+ K% j* E, d  i$ |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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