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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.
5 h- x8 Z6 E1 @* [
2 L- }  d6 W+ `& S4 E  ~' d% r6 T/ x. t' zThe global economic recovery is proceeding broadly in line with the Bank's projection in its1 \9 b+ w$ G# C9 [9 a0 u! [) I6 t8 J' e
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is5 K5 y0 ~, o8 o( {
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
% p* d1 E& v* {, ^' A/ Q) K/ \challenges associated with sovereign and bank balance sheets will limit the pace of the European
- p! ]0 z5 E/ I* e# N2 X2 Zrecovery and are a significant source of uncertainty to the global outlook. Robust demand from5 x, x! B. m8 ~1 g
emerging-market economies is driving the underlying strength in commodity prices, which could
5 z" ^4 o* o; `  R; q9 _( bbe further reinforced temporarily by supply shocks arising from recent geopolitical events.
5 N& D' u6 p+ i* N/ |
  P4 i! }3 E0 o6 {' Q* I, pThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
) m1 g; A5 Q% g/ ~; \the anticipated rebalancing of demand. While consumption growth remains strong, there are
* w1 U* i7 k+ x" w. l* wsigns that household spending is moving more in line with the growth in household incomes.
& M0 M* L4 z! j7 JBusiness investment continues to expand rapidly as companies take advantage of stimulative6 Q2 J$ `; Q* |& k& P3 r3 J9 \0 _1 U
financial conditions and respond to competitive imperatives. There is early evidence of a
9 i8 |& N% d4 i$ A% B' J; drecovery in net exports, supported by stronger U.S. activity and global demand for commodities.
: ~, W6 H1 s0 ]8 q+ z5 X( BHowever, the export sector continues to face considerable challenges from the cumulative effects4 L2 a1 b, a, J+ {8 v3 Y
of the persistent strength in the Canadian dollar and Canada's poor relative productivity& ^; S$ h: D( E( k9 e
performance.
* r+ `  ]4 R; ~9 F3 \* M
! W3 n. g9 v+ |  A" @8 lWhile global inflationary pressures are rising, inflation in Canada has been consistent with the
4 s+ ]' v0 M1 Z! {/ ]Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the1 p4 T. V7 O6 e. T; a  ^  T
considerable slack in the economy.$ z$ r6 A1 p2 p+ I8 b1 \

' v( [: }6 P% x- p0 QReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
0 X. I/ `1 I8 Nat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the9 v" {8 r( ?( Q/ O
2 per cent inflation target in an environment of significant excess supply in Canada. Any further
# a, ~& y- G; q9 Nreduction in monetary policy stimulus would need to be carefully considered.  N- \# ^% ~6 `2 e% I
Information note:
- |3 Y) H" ^5 ?4 L5 c* h" V4 m9 i# u3 V3 K3 f/ ]
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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