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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
8 K9 F+ J. U+ TJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
; U- u( T7 j4 e$ t3 Qsolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing: o% M5 F# c! |+ o/ M
challenges associated with sovereign and bank balance sheets will limit the pace of the European+ i1 I* \2 Y7 t1 w4 m% V
recovery and are a significant source of uncertainty to the global outlook. Robust demand from
2 A9 \! |2 `- F: F) G6 @emerging-market economies is driving the underlying strength in commodity prices, which could- b9 ^) J$ A( I4 |9 Y7 `
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 of2 x& Q# D. B% o$ R; O
the anticipated rebalancing of demand. While consumption growth remains strong, there are
/ d- B' }( F$ T, R; X9 ]signs that household spending is moving more in line with the growth in household incomes.
. z% {' I7 Y; c5 q5 Z& n; aBusiness investment continues to expand rapidly as companies take advantage of stimulative
3 E# ?  Q$ k8 l2 q3 X0 m4 v& xfinancial conditions and respond to competitive imperatives. There is early evidence of a; `* n6 \- w" [6 z
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.$ j: q0 X& ?2 C  |6 g( \
However, the export sector continues to face considerable challenges from the cumulative effects! L$ N& E0 v8 P' K. o0 b: l
of the persistent strength in the Canadian dollar and Canada's poor relative productivity) g( {& i; N: p, c1 i
performance." X0 d# n7 ?* C  I

, M% O  \7 y; ]  |/ [While global inflationary pressures are rising, inflation in Canada has been consistent with the4 X, V9 U% }8 W: P% p
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
* C- o" e' R% _9 ?considerable slack in the economy.
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- Z9 R( a! \7 G0 B! IReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
' n( P8 M! t) K: N; W" c- H( |+ W3 p; n) ~at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
7 R+ o8 b. {1 A- u5 ]5 Y1 d2 per cent inflation target in an environment of significant excess supply in Canada. Any further  ~! N1 z# Z: ]/ X
reduction in monetary policy stimulus would need to be carefully considered., W9 s8 m9 [/ w4 P. i9 V
Information note:' b: ?' i' n" j; ?! e& r

2 J; k0 Z9 y( W3 kThe 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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