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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.+ @4 [5 y; ?" V

+ V6 \' C6 Y- p) f: I/ @' Y" }% y$ s& f" YThe global economic recovery is proceeding broadly in line with the Bank's projection in its4 J0 R* ^. S6 @  T. {
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is" |6 H9 w5 G* M! m
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
) j" p2 x4 S) j; G. K& lchallenges associated with sovereign and bank balance sheets will limit the pace of the European
  B" [# h2 E. Vrecovery and are a significant source of uncertainty to the global outlook. Robust demand from
4 C( V& E5 }9 S2 ?emerging-market economies is driving the underlying strength in commodity prices, which could
5 e5 ?0 ]2 T) I" m3 ebe further reinforced temporarily by supply shocks arising from recent geopolitical events.: |& M9 L  A; ~( E) t# d

0 {+ g8 G7 g1 R; X* e4 J( d0 }+ BThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of3 H2 x& e5 N- c5 l7 t' M) [
the anticipated rebalancing of demand. While consumption growth remains strong, there are
9 X$ O; t) g4 y' ^) z' @signs that household spending is moving more in line with the growth in household incomes.9 {, j- E" m4 s0 Y4 H
Business investment continues to expand rapidly as companies take advantage of stimulative6 j" s" T. X! Q% \) }2 {% y* n+ j
financial conditions and respond to competitive imperatives. There is early evidence of a' |6 D" ^# K8 O8 M4 c
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.
& R$ N8 y+ @7 [/ N+ `4 }However, the export sector continues to face considerable challenges from the cumulative effects
5 P' R9 [) K' X# Lof the persistent strength in the Canadian dollar and Canada's poor relative productivity5 F: n0 M8 e! t3 J" j; O. N9 P
performance.
, _$ n% v2 `5 W6 Y0 o* r  Q$ ^6 r# j$ a9 e7 j
While global inflationary pressures are rising, inflation in Canada has been consistent with the
: g) ~+ M# A+ D$ L/ D( m) ^0 |Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
5 y, ]& r4 L- m0 l# {. Mconsiderable slack in the economy.
& i8 y( `: A1 f5 i& J- j8 r6 n5 ?, w0 B: \
Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
. v# ^$ o  s5 j" M0 pat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
+ S1 h7 k  m0 r' }: A! o) Y$ D2 per cent inflation target in an environment of significant excess supply in Canada. Any further
5 ]6 _. t" n  c2 U* t& e6 ]reduction in monetary policy stimulus would need to be carefully considered.* j7 g+ I4 Y* j) W
Information note:: m: S  r$ L' m& X5 K( {. w; c8 ?" r

) @' Y1 f9 q1 i1 ZThe 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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