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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.
5 D& g0 b& ~& R5 P
8 {3 Y" r4 B7 s' K' l, r9 UThe global economic recovery is proceeding broadly in line with the Bank's projection in its
- Y9 Z' g+ @3 JJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
' N6 Z3 ?$ i. w7 }- Y8 gsolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
% _' e# N6 d- h; Q2 q  ]5 l+ ]6 Ochallenges associated with sovereign and bank balance sheets will limit the pace of the European, W: o  |3 @7 v3 E7 J: l
recovery and are a significant source of uncertainty to the global outlook. Robust demand from) x+ W9 C! I0 g2 }# X7 a/ c
emerging-market economies is driving the underlying strength in commodity prices, which could* A4 D: D. `4 y8 N
be further reinforced temporarily by supply shocks arising from recent geopolitical events.
5 D6 L4 g4 }: W3 n: \) r4 M# S' a: d5 y; [
The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
$ i' r5 a) }! othe anticipated rebalancing of demand. While consumption growth remains strong, there are1 X" o# ~8 [/ {6 K6 I
signs that household spending is moving more in line with the growth in household incomes.0 a1 M1 C8 c3 Z8 e9 i
Business investment continues to expand rapidly as companies take advantage of stimulative  ~& v3 a1 ]# w& @3 t/ p8 G
financial conditions and respond to competitive imperatives. There is early evidence of a
" U6 v3 ^- r/ B) Hrecovery in net exports, supported by stronger U.S. activity and global demand for commodities.9 U! n8 \7 z) {% d2 f
However, the export sector continues to face considerable challenges from the cumulative effects* ?" k0 p; u; |8 i0 j
of the persistent strength in the Canadian dollar and Canada's poor relative productivity
; ?( d8 A; Z" Wperformance.* Y, @: q, s, D

( s0 O: @' Q; S1 i# L8 v1 U6 U+ GWhile global inflationary pressures are rising, inflation in Canada has been consistent with the: q6 |, `' s$ b5 l3 h6 q: n6 Q) {+ V
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
7 h; s% h1 i/ `$ b, l, K+ Sconsiderable slack in the economy.* d# O- V. a' h1 {

5 b5 i, R  A( f- O% k5 d  F' iReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate; g+ H' n0 w( s5 z& ?1 Z
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
, d! W+ x2 o' m  q4 y$ S2 per cent inflation target in an environment of significant excess supply in Canada. Any further
& V7 S8 u+ [& j2 q8 o2 A, greduction in monetary policy stimulus would need to be carefully considered.
- Z: }9 G, b" d7 b, BInformation note:
! A4 c& O% W9 X8 H% G  O( _5 l0 T6 {/ z) f: f6 ?7 j
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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