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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.
( d0 c! v2 S; Y* S$ v3 ~# y6 P# m7 f* B. M) g# o
The global economic recovery is proceeding broadly in line with the Bank's projection in its
! P8 K7 {. t! f/ M$ n) W9 MJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
7 Z$ ]9 Q0 d. {0 r  Jsolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
: H. @% l) H, [challenges associated with sovereign and bank balance sheets will limit the pace of the European; m* T/ w/ E. {3 D2 C
recovery and are a significant source of uncertainty to the global outlook. Robust demand from
1 b/ Z) p: {+ t7 u8 ^) _emerging-market economies is driving the underlying strength in commodity prices, which could
9 k4 b7 K$ J: N: Hbe further reinforced temporarily by supply shocks arising from recent geopolitical events.( w- o( L0 V4 q
- u1 q: f* Y, K7 v! B6 \! v
The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
5 |8 J1 _( y' y- bthe anticipated rebalancing of demand. While consumption growth remains strong, there are: }# y  K, Y" h
signs that household spending is moving more in line with the growth in household incomes.( E3 y6 C6 X  ]) Q/ \8 p
Business investment continues to expand rapidly as companies take advantage of stimulative
1 A; B" z/ L* J4 I" \financial conditions and respond to competitive imperatives. There is early evidence of a. \1 g6 V4 C& z1 L
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.- t. Y0 n8 |5 ~; @$ z
However, the export sector continues to face considerable challenges from the cumulative effects8 J: c" o: ?1 r3 g1 b' I, h) Z- U
of the persistent strength in the Canadian dollar and Canada's poor relative productivity3 U% [: Y$ ]" M' p% Q. u' t# q
performance.1 Z8 \; N3 P/ u6 S6 h
$ o- v5 J( ?- j, O. P7 Z6 ]
While global inflationary pressures are rising, inflation in Canada has been consistent with the
" `* F; ^0 U" A* z& ~7 w- Q1 v# IBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
' I& c+ V' C! S7 ~' Jconsiderable slack in the economy.5 Z8 ?( L. I- Y3 G- v( \

/ `; q) F$ n7 A# H% i. |$ ?" T% |Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate: t$ a. l5 P- }9 F. L
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the' @  M1 J4 I7 d; Y( l' v5 f
2 per cent inflation target in an environment of significant excess supply in Canada. Any further
6 v" [: V" A+ a) c' ]6 F2 Preduction in monetary policy stimulus would need to be carefully considered.' n4 q& Q8 t9 v2 U/ J
Information note:
( g8 d4 R" O& ?! z" }" s% x% ?; t" v3 H, y- P/ {- Y- z! b4 ?
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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