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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.! t% l: y# h( L% I" {% [% a& o
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The global economic recovery is proceeding broadly in line with the Bank's projection in its7 p/ H4 A7 n- f) _" \* c2 W+ r
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is/ W) Z, [' k" P& r# U6 M0 _
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing7 L+ t  d8 V1 c
challenges associated with sovereign and bank balance sheets will limit the pace of the European. t/ ^6 H" h4 {  f
recovery and are a significant source of uncertainty to the global outlook. Robust demand from
/ A( c& z0 @' T; F8 A3 M+ ~# Yemerging-market economies is driving the underlying strength in commodity prices, which could
9 r( \1 ]5 m4 V( Q2 c- x- \3 vbe further reinforced temporarily by supply shocks arising from recent geopolitical events.
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* ~4 F' I/ ?* CThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
% L) v. M5 n7 W0 |( Y# c/ Z, T* Lthe anticipated rebalancing of demand. While consumption growth remains strong, there are4 J0 }  i9 t6 r- u4 `" j
signs that household spending is moving more in line with the growth in household incomes.
" G/ I6 e, ^3 iBusiness investment continues to expand rapidly as companies take advantage of stimulative
" o$ ~5 Z2 Z$ U) D+ afinancial conditions and respond to competitive imperatives. There is early evidence of a
! h9 d; W# p) |  Q" O' U' J2 jrecovery in net exports, supported by stronger U.S. activity and global demand for commodities.
% t( c1 n/ C5 m+ ^& ?" THowever, the export sector continues to face considerable challenges from the cumulative effects
  s6 a0 s: z; Y% K1 Z) vof the persistent strength in the Canadian dollar and Canada's poor relative productivity( }4 D0 Z9 }1 O6 V
performance.$ f1 M2 l0 ~. X4 v7 M
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While global inflationary pressures are rising, inflation in Canada has been consistent with the
1 [" c8 y, g! Z- h8 `Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the1 e/ n( o2 ^, d( h
considerable slack in the economy.' n7 f* s5 Q9 m# _6 \  O3 M
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Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate; z  ^$ z: Y; x# s4 P. M) L
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the6 J* S  E1 ?' t9 D6 T) O+ m
2 per cent inflation target in an environment of significant excess supply in Canada. Any further
* |0 B6 R) w; l1 a" [reduction in monetary policy stimulus would need to be carefully considered.
1 w  ?: U; J" g! X" W- R( {Information note:1 E7 r# T$ d0 L' d: u* H4 a; [2 r
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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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