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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
老杨团队,追求完美;客户至上,服务到位!
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.2 r# O  t6 w+ S

1 I# X. m* \; t, ?8 ^+ ?4 qThe global economic recovery is proceeding broadly in line with the Bank's projection in its
; a# B) [6 K8 L$ q' fJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
" @2 }( W+ n! Z5 w( i! o3 wsolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
7 O  D. x9 ~) q" ~4 C/ w, wchallenges associated with sovereign and bank balance sheets will limit the pace of the European1 ]1 _% I' O0 G$ [3 S: s6 F
recovery and are a significant source of uncertainty to the global outlook. Robust demand from! M1 C# {. E2 V9 j' b% ]) y
emerging-market economies is driving the underlying strength in commodity prices, which could
7 o8 f$ P5 B5 V9 {5 C: l: ?; ibe further reinforced temporarily by supply shocks arising from recent geopolitical events.
/ I; m* R0 F: Z% K. P" J3 z9 v3 ]; i& i; Y; Q# B2 N, k5 e. c3 O
The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
. n/ J8 {6 R8 P# h# sthe anticipated rebalancing of demand. While consumption growth remains strong, there are- r- s) W5 {' ]1 X" A7 c
signs that household spending is moving more in line with the growth in household incomes.
9 k- f' r4 K' t/ q. o9 r: K/ |3 D8 YBusiness investment continues to expand rapidly as companies take advantage of stimulative
1 ^$ c, ~. F% N7 C- L* o3 y* E0 Lfinancial conditions and respond to competitive imperatives. There is early evidence of a
, C' d7 T( N+ Brecovery in net exports, supported by stronger U.S. activity and global demand for commodities.1 v$ J( o0 S) m$ V  w% T
However, the export sector continues to face considerable challenges from the cumulative effects
/ z2 S$ L1 S. D# O7 y0 O0 Lof the persistent strength in the Canadian dollar and Canada's poor relative productivity
5 b# ]( T5 f8 t! _performance.4 x; s! a$ k; S

( Z; N0 z2 O' Q9 hWhile global inflationary pressures are rising, inflation in Canada has been consistent with the
1 _  D4 c" Y* [0 w4 b. f: MBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the- S2 w; C4 Y8 w. _3 Z
considerable slack in the economy.
) G/ j, Z. N: @# a! E5 i, _2 e6 d" J2 p/ w! V$ ?
Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate  S$ J; V9 Z6 B. L' g9 z1 @) z
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the4 U* W! |7 ]% |$ [, A
2 per cent inflation target in an environment of significant excess supply in Canada. Any further
* L- i0 y% X( g: I2 ~# ereduction in monetary policy stimulus would need to be carefully considered.) P1 t- b9 g6 [( l- d: R4 C. W' q
Information note:5 \( K; F8 \# t- {! y% a2 ^) o4 i

% u4 E6 W* i! _; \: y; {/ F' Y: RThe 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.
理袁律师事务所
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