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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
老杨团队,追求完美;客户至上,服务到位!
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.
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The global economic recovery is proceeding broadly in line with the Bank's projection in its
1 P* P) `' l7 v( y% cJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is. e# {5 n  K9 I2 u. ]) f" h  @/ h
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing- r2 V9 U! D8 J5 d- `/ `: h
challenges associated with sovereign and bank balance sheets will limit the pace of the European( K2 F4 H( i& h# }7 K
recovery and are a significant source of uncertainty to the global outlook. Robust demand from6 g, \5 g( J; y8 \4 o
emerging-market economies is driving the underlying strength in commodity prices, which could
$ N" y8 {" n- o9 |# P  {: @1 _be further reinforced temporarily by supply shocks arising from recent geopolitical events.
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' g+ Y* e2 x2 |9 WThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of- i7 P( O; V2 n0 z0 I1 j2 t
the anticipated rebalancing of demand. While consumption growth remains strong, there are
  C3 c; k: x) ]+ y4 Z! {0 ]4 h1 |signs that household spending is moving more in line with the growth in household incomes.
$ k" ?- [( m$ u$ d6 XBusiness investment continues to expand rapidly as companies take advantage of stimulative) J" P# I$ I# P3 W0 k
financial conditions and respond to competitive imperatives. There is early evidence of a& [- P4 w! r7 F
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.% Y: f5 v+ Q9 L, e$ y* Y. E0 A# y- E
However, the export sector continues to face considerable challenges from the cumulative effects! [  C" h, w( _
of the persistent strength in the Canadian dollar and Canada's poor relative productivity8 G( {, ?! G6 F# |9 G, l, G/ ~
performance.
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While global inflationary pressures are rising, inflation in Canada has been consistent with the+ s3 N- X) l5 V3 Z1 R$ f4 R) C
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the! L2 [8 n- W% F7 C; W9 D
considerable slack in the economy.! w3 r( X9 g' X9 e1 s: X3 k9 w. g
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Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate3 q  v6 C' }! h4 |8 z/ |: B
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the" ^+ V( K$ X$ Q: c4 N
2 per cent inflation target in an environment of significant excess supply in Canada. Any further6 T3 }* f$ i& e" M$ V
reduction in monetary policy stimulus would need to be carefully considered.% C0 }: }' x0 d2 L6 L+ Y
Information note:
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+ C9 f+ j% c5 xThe 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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