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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.  G9 k7 v3 M, S" V: o
! h. _# P$ t7 a! ~/ u. s0 U% _8 h
The global economic recovery is proceeding broadly in line with the Bank's projection in its- \$ O+ l; |1 X# u" Q
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is/ s2 I: G/ [1 }; O0 c* p4 V
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
; |4 H) \/ N, ?% r! \challenges associated with sovereign and bank balance sheets will limit the pace of the European; W- [+ K2 }+ v# V, e0 D8 R  ?6 {0 K
recovery and are a significant source of uncertainty to the global outlook. Robust demand from& D. E3 ]; K. n; w
emerging-market economies is driving the underlying strength in commodity prices, which could; l- M) y  D9 ?2 Z
be further reinforced temporarily by supply shocks arising from recent geopolitical events.. q6 p* a. m7 t7 D
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The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
; o5 N# E% f( |+ g0 L& I$ f- ~the anticipated rebalancing of demand. While consumption growth remains strong, there are& G" D# t$ p( j5 `& U
signs that household spending is moving more in line with the growth in household incomes.: `% S3 r/ F; N  ]: J. s
Business investment continues to expand rapidly as companies take advantage of stimulative5 X' r. F' G( i
financial conditions and respond to competitive imperatives. There is early evidence of a! q& G0 N, {, B4 Z
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.
: V3 A& K$ r- mHowever, the export sector continues to face considerable challenges from the cumulative effects! Z1 `6 L+ p% l) l2 I
of the persistent strength in the Canadian dollar and Canada's poor relative productivity
% x# Q+ U( S0 d; a! J4 D+ hperformance.
) o. t0 b* Z; w. m* W2 V- v. t8 b' f! e% P9 y: l
While global inflationary pressures are rising, inflation in Canada has been consistent with the' w0 W$ h, c% J. Y
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the' d3 Q( M. j1 O9 s( f3 Y- L
considerable slack in the economy.
, {# g' P5 u- }, @) x# w5 p% i3 E% W& Q  X: H
Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate. w7 B( l$ s$ X' h- R! m
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the- r. T2 ]% {) j7 U" A& N" l! u6 l7 M
2 per cent inflation target in an environment of significant excess supply in Canada. Any further
% }9 `* t5 X: A. A4 `reduction in monetary policy stimulus would need to be carefully considered.6 M+ R" N1 H' M' {9 r5 q
Information note:
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9 E- \. x! R( Z' I/ n  [9 dThe 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.
理袁律师事务所
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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