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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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! ]3 {) J5 E( k, q# qThe global economic recovery is proceeding broadly in line with the Bank's projection in its
: l& e# Z: D% y% F6 f$ R+ b  dJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
* u& E& a8 ]* D; E* ~2 ~3 ksolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
' n; g" T+ M2 T' h; e5 Ychallenges associated with sovereign and bank balance sheets will limit the pace of the European
9 z, o6 s" D6 N: W" S) Arecovery and are a significant source of uncertainty to the global outlook. Robust demand from
9 {# t2 c0 X' {% f- G- S  lemerging-market economies is driving the underlying strength in commodity prices, which could
& [" F, G: f! ]& B3 M4 Xbe further reinforced temporarily by supply shocks arising from recent geopolitical events.. t- a0 M2 Z4 M1 }" [- ^' d" |
; v# w; L% y8 A; d
The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
8 J: d& w) L1 f, _; fthe anticipated rebalancing of demand. While consumption growth remains strong, there are( t* U% P0 p' e+ E3 \$ M
signs that household spending is moving more in line with the growth in household incomes.
0 \9 M* g6 n# w9 `$ ~& ^Business investment continues to expand rapidly as companies take advantage of stimulative
& ~" m/ |. @* ?3 ~1 z% t" [4 lfinancial conditions and respond to competitive imperatives. There is early evidence of a# N$ h8 m$ h5 T; N3 g  a& g# I
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.# ]& C, R9 R# |8 c) ?
However, the export sector continues to face considerable challenges from the cumulative effects6 u5 w  v3 g' V8 z- }
of the persistent strength in the Canadian dollar and Canada's poor relative productivity
8 [: A9 e# P3 N1 Y4 f2 jperformance.
8 |& k) ^8 @+ g; _) b, r9 V" f3 {; d8 p/ r) @( L
While global inflationary pressures are rising, inflation in Canada has been consistent with the2 @8 z4 k6 ?6 e( r' w. D1 r
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the+ Q6 g; e  h* e& [$ ^
considerable slack in the economy.
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4 a+ |/ N3 ~( |" y' f5 h1 q! w: gReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
7 I' @& J' H# A, z: E3 I: lat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
: y( Z) \6 D0 ^/ d2 per cent inflation target in an environment of significant excess supply in Canada. Any further
. m2 g+ V2 [; @) x/ @2 J% w# f7 H6 c# xreduction in monetary policy stimulus would need to be carefully considered.* e' U8 s; t# Y. i% \) M
Information note:) \- D) x$ w# z$ T; ]! y2 K
# ]( j" U; F* M8 E4 \; _
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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