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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.- C7 o8 F9 o# ?8 k! }/ D- z5 \

8 ]+ S( y; Z0 P: ]2 J3 |The global economic recovery is proceeding broadly in line with the Bank's projection in its# P; g0 C3 c- L9 N" k; E
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is8 i* m8 |" j0 O, K3 }
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
& f7 U# y& S( k2 D$ u4 Ichallenges associated with sovereign and bank balance sheets will limit the pace of the European0 d3 [) C' D# `$ n+ k" e
recovery and are a significant source of uncertainty to the global outlook. Robust demand from
* E" \9 {, Z) X: ]emerging-market economies is driving the underlying strength in commodity prices, which could" ?/ A" ?% z: ~' x* K, B7 R
be further reinforced temporarily by supply shocks arising from recent geopolitical events.7 b$ t& S9 c8 o6 |

" {. c0 B) x; @5 BThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
+ C( t' o$ U# k( Athe anticipated rebalancing of demand. While consumption growth remains strong, there are
/ u5 s& ?/ O5 csigns that household spending is moving more in line with the growth in household incomes.8 Z# E0 a+ p5 ^4 m
Business investment continues to expand rapidly as companies take advantage of stimulative
+ V- X1 i! [8 z7 }financial conditions and respond to competitive imperatives. There is early evidence of a
9 s- m" u% [. v, q' S* U; e! Jrecovery in net exports, supported by stronger U.S. activity and global demand for commodities.7 Z) ^' u8 ^# @5 G* Q+ e
However, the export sector continues to face considerable challenges from the cumulative effects) [: }/ o) E1 d& _: M
of the persistent strength in the Canadian dollar and Canada's poor relative productivity
) {  K, i% p. ?" j" ?6 C2 Dperformance.
+ [& I9 v* O0 i# ]6 E5 K* O0 o8 W+ n* ]# o
While global inflationary pressures are rising, inflation in Canada has been consistent with the
$ ?: b; z6 t) R8 c, }' L# I: Z& `Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the+ ]8 g7 F  E3 s4 X# D, \
considerable slack in the economy., |, Q5 Y' h7 z2 K7 ]0 C

# S) a* C" t' UReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate  |4 P+ i. L2 K* ~/ `8 ^( [  Y
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the& n, h7 e5 [* r" J7 p7 M  a8 c# i: U
2 per cent inflation target in an environment of significant excess supply in Canada. Any further3 ]8 ?9 Z; Z" s$ l
reduction in monetary policy stimulus would need to be carefully considered.; }2 u" G  y8 `; R8 V/ |
Information note:
; V7 `& ~7 ?5 l3 Y- l2 X: L
" ]  z( b  I( ?5 z# YThe 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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