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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.
7 _' B  @5 g1 B9 U* {+ k5 Y& e
( s* Q) z8 R: I+ m4 P9 DThe global economic recovery is proceeding broadly in line with the Bank's projection in its
5 g% z1 O3 _$ LJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is) l* G: T! U* o8 p4 Z8 j
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
, T/ ?4 {2 T5 J) t' B) @& fchallenges associated with sovereign and bank balance sheets will limit the pace of the European
" `* t% {2 I" D8 y. vrecovery and are a significant source of uncertainty to the global outlook. Robust demand from  a/ y* |6 U3 D9 Z1 u
emerging-market economies is driving the underlying strength in commodity prices, which could
) v2 \2 W+ D  t5 {5 s) @7 _2 Nbe further reinforced temporarily by supply shocks arising from recent geopolitical events.
7 O' @$ h, P3 ^& n, h
. _6 B+ x' D+ h/ T1 H0 \+ uThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
/ J* W" M: [* b) {0 r8 mthe anticipated rebalancing of demand. While consumption growth remains strong, there are
8 i. ^8 {5 z) B) _! i8 B: Fsigns that household spending is moving more in line with the growth in household incomes./ c" _+ ?5 C% w: _- H7 x
Business investment continues to expand rapidly as companies take advantage of stimulative3 a* j2 {; M% r3 k8 ^
financial conditions and respond to competitive imperatives. There is early evidence of a3 w3 B5 r& `9 u
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.
0 K3 I4 x5 U, z- B: ~: @4 B9 dHowever, the export sector continues to face considerable challenges from the cumulative effects) Y3 t1 f4 `9 b* F5 k% t
of the persistent strength in the Canadian dollar and Canada's poor relative productivity  J* M" j% a2 P, t. T
performance.
7 T& U4 ]" a: e5 E! Z) J8 K1 ^0 z0 N" ]* K: Z5 I) M$ w5 w3 O9 z
While global inflationary pressures are rising, inflation in Canada has been consistent with the
( ?! l# _, {+ f" |Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
4 g6 Q& h! r4 u" ]1 }$ V8 fconsiderable slack in the economy.3 h' ^; b9 N6 `! o! c; y- F
+ ?  N& E& ?* \1 m  n
Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate: a  ~: Y/ C$ ?& }3 [& J" n
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the! @  D" g- q( c9 {$ a# {
2 per cent inflation target in an environment of significant excess supply in Canada. Any further7 m& r- ]- x5 E
reduction in monetary policy stimulus would need to be carefully considered.
  A: d) R$ ~+ C: O% _Information note:
5 i7 z' {6 }* U! r, U8 R$ O3 r& ^$ y8 m- U9 l
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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