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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.9 I% D9 l! k, {. ]) _$ a

. w" p; b$ Q+ W/ z: IThe global economic recovery is proceeding broadly in line with the Bank's projection in its8 p6 W) ~7 @. ^* @
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is* B# D+ `1 ]  B/ @3 h' d& U( v
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing- g6 v+ \7 V$ s
challenges associated with sovereign and bank balance sheets will limit the pace of the European/ E, p: j6 Z) A3 b6 A  C
recovery and are a significant source of uncertainty to the global outlook. Robust demand from
, t" K4 o7 U  W' Y$ O0 B0 ]: V. O0 C' Iemerging-market economies is driving the underlying strength in commodity prices, which could
! Z8 [" C8 d4 q: f/ ]% Gbe further reinforced temporarily by supply shocks arising from recent geopolitical events.  p; Y+ k& E" B: K
6 H" _: y$ [0 x+ ]7 K" r8 _- a
The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
8 K; Q' R% w. m# Y. ithe anticipated rebalancing of demand. While consumption growth remains strong, there are
# S- ?3 z) U- v+ zsigns that household spending is moving more in line with the growth in household incomes.
$ A9 m5 }( p! K& @3 @Business investment continues to expand rapidly as companies take advantage of stimulative
$ x9 g7 \! ^  z( w% ^3 Vfinancial conditions and respond to competitive imperatives. There is early evidence of a0 y# v5 i6 T1 a9 u2 s& {
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.' r, D, l% [& ~
However, the export sector continues to face considerable challenges from the cumulative effects  d9 Q# E4 G# I( u
of the persistent strength in the Canadian dollar and Canada's poor relative productivity# u9 A8 \* c5 q; q; C# e8 o
performance.
1 u  S5 v# L' o! H; x) Z6 }0 b2 q
While global inflationary pressures are rising, inflation in Canada has been consistent with the
9 D9 J: y9 }$ w. H' G) G1 g& s8 S$ SBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
- i4 q+ l# k; B) r5 D  C: Q/ t% sconsiderable slack in the economy.; z8 ]) S3 ^  K
; z) v, h& g4 c/ N5 S$ N
Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate6 f2 J& F' q0 Z4 I( r+ S
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
: ]0 L( Z5 ^4 u2 per cent inflation target in an environment of significant excess supply in Canada. Any further
( _( O# F* q* N  @4 F0 treduction in monetary policy stimulus would need to be carefully considered./ l  ~4 I8 M, X
Information note:
1 W& S6 D4 W: Q0 X
. O, K. [8 A9 i7 _- k3 wThe next scheduled date for announcing the overnight rate target is 12 April 2011.
大型搬家
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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