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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.
9 A9 Q: H0 r) @8 I) W  E* ]! b2 q. E; D' C
The global economic recovery is proceeding broadly in line with the Bank's projection in its
1 g% s% \! H4 l, x1 I* ^. y; MJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
  S/ k. o: V- \: g" P: l; ~solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
( O/ n! }" R: y  m- A' [7 Qchallenges associated with sovereign and bank balance sheets will limit the pace of the European
# i" W7 U* x! c: b( Z% A1 u8 ?recovery and are a significant source of uncertainty to the global outlook. Robust demand from8 B5 N" d/ h  X# k9 g
emerging-market economies is driving the underlying strength in commodity prices, which could, ^/ w% V" R( v1 r
be further reinforced temporarily by supply shocks arising from recent geopolitical events.5 {; A" }4 m2 b+ H4 ^0 C' n9 Q
, b& b( u  q+ H6 a) [
The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
  K7 o1 L# Y% t3 C# k3 vthe anticipated rebalancing of demand. While consumption growth remains strong, there are
% E- l' D5 {8 }4 _8 ^; {signs that household spending is moving more in line with the growth in household incomes.
+ e5 z2 Q0 s. g/ ^9 B  f# j9 Y4 @Business investment continues to expand rapidly as companies take advantage of stimulative" T: g- V2 J7 M: J: ]! g+ |, i- |
financial conditions and respond to competitive imperatives. There is early evidence of a
7 F6 t6 \  B! g3 J4 S- Drecovery in net exports, supported by stronger U.S. activity and global demand for commodities.
+ c2 @+ C" w6 h: u% m8 Z. ~However, the export sector continues to face considerable challenges from the cumulative effects' ^4 x- w2 z9 C
of the persistent strength in the Canadian dollar and Canada's poor relative productivity
* g- N* N, N5 l0 A" `3 |performance.
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) g# Z6 T7 j  p$ a7 A! ^) h# UWhile global inflationary pressures are rising, inflation in Canada has been consistent with the
5 Z0 l0 O4 D0 P3 n" aBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the% B$ m4 U+ F2 E2 j  A
considerable slack in the economy., l" _1 u1 z5 [

* T. {& F/ A1 P! rReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate$ j1 p& L8 f4 N2 s; `! u" t
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
2 v! Z) S0 ?( |! n. m2 per cent inflation target in an environment of significant excess supply in Canada. Any further
  A3 w5 o* B7 R1 Greduction in monetary policy stimulus would need to be carefully considered.3 @, [9 d* p: c8 J; m1 b
Information note:# G" u4 R+ C( q7 e* [
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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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