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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
# c2 l0 L' e0 z" v3 w4 {January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
- K' R3 W! u1 j1 u! L; ^! h; ?  bsolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing$ U3 z! D+ S- p1 K
challenges associated with sovereign and bank balance sheets will limit the pace of the European: ?" i) Q* ]4 r  e! U. O
recovery and are a significant source of uncertainty to the global outlook. Robust demand from
5 }; _& M- _$ \! G' bemerging-market economies is driving the underlying strength in commodity prices, which could6 s7 R3 ?: g0 K( O8 R
be further reinforced temporarily by supply shocks arising from recent geopolitical events.
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( V( O; }/ t1 @' {  b5 v* lThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of" T. {  Z% t) O; R2 a' T' {
the anticipated rebalancing of demand. While consumption growth remains strong, there are
8 |3 P" b; g! h4 _1 h) Asigns that household spending is moving more in line with the growth in household incomes.% D% |/ ]+ M6 D
Business investment continues to expand rapidly as companies take advantage of stimulative
! ~1 ~0 A8 v5 z0 i, rfinancial conditions and respond to competitive imperatives. There is early evidence of a! C/ P2 O: ]8 f  J) j) [5 b  F+ y4 w
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.
2 Q" g3 S6 e/ f+ g# pHowever, the export sector continues to face considerable challenges from the cumulative effects
% c# G7 V0 r$ r, V% K( ^% Fof the persistent strength in the Canadian dollar and Canada's poor relative productivity! W) R) p1 u% n2 n$ I; u
performance.; R9 j( Y9 V$ `4 }) c, C
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While global inflationary pressures are rising, inflation in Canada has been consistent with the- c$ M% A" D6 Z6 U
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the- W) Q( ?; O: j: n7 Q, f! k' J
considerable slack in the economy.6 J  f9 C9 }! q) C( d) C
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Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate9 c9 {7 \' g6 D% s: G6 M0 o" @
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
1 t( E- B0 Z  U' p2 per cent inflation target in an environment of significant excess supply in Canada. Any further
1 r5 I! Q, O! f4 ~6 N0 p# \reduction in monetary policy stimulus would need to be carefully considered.( }7 _8 p% I8 j& k
Information note:
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, r* @3 A) `9 j: b* s* |# tThe 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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