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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., v1 }6 ]$ h4 G4 d% p
$ R2 Y6 T4 k+ a9 c4 h2 N4 B- {
The global economic recovery is proceeding broadly in line with the Bank's projection in its: [9 q+ ?/ t( n* |5 b
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is; [. t+ [2 R0 J0 h, X
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing+ G& H/ f2 [8 r
challenges associated with sovereign and bank balance sheets will limit the pace of the European+ G0 F" B5 K8 j( U% h
recovery and are a significant source of uncertainty to the global outlook. Robust demand from  z% {6 Q& z: v4 w, s
emerging-market economies is driving the underlying strength in commodity prices, which could. c3 P1 F) ~1 g: m' A9 B
be further reinforced temporarily by supply shocks arising from recent geopolitical events.9 x  ]+ r# E  L4 }
: A7 k# l* t2 Y( {! A4 o7 ?
The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
/ Q( v( u+ ]/ R; K5 G5 H, U6 Nthe anticipated rebalancing of demand. While consumption growth remains strong, there are
$ x3 A9 n# v) t2 g( ]signs that household spending is moving more in line with the growth in household incomes.
9 ?+ c' R" G" [: _3 G! {" bBusiness investment continues to expand rapidly as companies take advantage of stimulative, q2 w+ j# o8 R( |
financial conditions and respond to competitive imperatives. There is early evidence of a
5 |# J; f( t7 y9 I2 f' H# ?recovery in net exports, supported by stronger U.S. activity and global demand for commodities.0 i' U8 N+ w( S; d5 _  R
However, the export sector continues to face considerable challenges from the cumulative effects
" T8 z  Y" ?, j- C, K8 M8 q- \% Dof the persistent strength in the Canadian dollar and Canada's poor relative productivity
+ m; T8 [& T. U* i0 @! ^performance.
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While global inflationary pressures are rising, inflation in Canada has been consistent with the6 Y) O4 G$ d- `0 r2 t! u: |/ {
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the, S; l. d& G1 Q5 L" f
considerable slack in the economy.0 Z0 N; o8 j+ ^! C

' k  a  e! M7 h! P* }  K! wReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
3 W) x$ m# `5 e  @  ?at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
" J0 [, B+ `$ H3 s5 o8 Y2 per cent inflation target in an environment of significant excess supply in Canada. Any further
! u* n" m5 [0 c: treduction in monetary policy stimulus would need to be carefully considered.0 T) ?, Z6 H4 j2 j$ L
Information note:6 D. U, o* X; [2 ]! \8 ], u/ n
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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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