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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.2 e+ R5 z( q$ U3 T* r6 _3 k

7 S2 v7 M' H3 p6 xThe global economic recovery is proceeding broadly in line with the Bank's projection in its
& h  Z1 t' s$ ]- G0 k4 sJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is( y. H: i; I" |* K" l! J% f
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing* \- y$ x1 z9 x4 ^
challenges associated with sovereign and bank balance sheets will limit the pace of the European5 [/ T/ a6 R; o7 w# s
recovery and are a significant source of uncertainty to the global outlook. Robust demand from
  l! `  B* ~, S" e3 A0 A1 ]1 j0 jemerging-market economies is driving the underlying strength in commodity prices, which could
0 V0 j/ Z4 O  q0 r  hbe further reinforced temporarily by supply shocks arising from recent geopolitical events.* i0 X' P" I# T  P+ I
, h% O! ?5 d1 E$ t$ ]
The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
, P( I6 a9 T( j) nthe anticipated rebalancing of demand. While consumption growth remains strong, there are& y7 ^' J: V2 r6 B4 a
signs that household spending is moving more in line with the growth in household incomes.
2 P1 c  z, `( IBusiness investment continues to expand rapidly as companies take advantage of stimulative# x6 P8 d& b1 [/ J5 [
financial conditions and respond to competitive imperatives. There is early evidence of a
2 }, R# l5 i, \, Brecovery in net exports, supported by stronger U.S. activity and global demand for commodities.
7 z, ?: G  T+ k  m. z. V- [4 X6 ^However, the export sector continues to face considerable challenges from the cumulative effects
: `6 Z) S5 U5 ^/ Aof the persistent strength in the Canadian dollar and Canada's poor relative productivity
+ {# q6 J" ]7 A7 I; i3 C, Dperformance., _% r- q9 h# i1 s1 S

- A/ ?0 a* P$ x8 ]% O% TWhile global inflationary pressures are rising, inflation in Canada has been consistent with the
4 @' U, K1 D. n* c3 h: I7 VBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the5 Q  b( Y6 Z! I% s1 s
considerable slack in the economy.
6 u5 m" J5 G4 J
5 r/ n# _4 }( ?4 {Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate$ O# d$ ^( A* `4 G% B- h3 G
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
  f$ z( d, Q8 h: }7 n2 per cent inflation target in an environment of significant excess supply in Canada. Any further" C: V* p; P4 @2 f9 t' W
reduction in monetary policy stimulus would need to be carefully considered.
: o- W7 E# D1 f2 i( S0 mInformation note:
) a' T0 p% Q( S% m
- F  ?  M) e6 |) k- l# K- d- [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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