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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.
3 ~% g: t- B. s' o3 l
! T: @" }# U) H  B" ^9 z8 wThe global economic recovery is proceeding broadly in line with the Bank's projection in its, W+ O; ?6 u% t9 M  J
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is* Z% L, z7 `4 A+ z9 w3 o8 w, y' M, T
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing8 @3 E& G. t0 I# E6 |
challenges associated with sovereign and bank balance sheets will limit the pace of the European
% f( C1 v& e& ^8 }, }recovery and are a significant source of uncertainty to the global outlook. Robust demand from, c9 c+ \2 a; I/ A3 E9 a1 g- @
emerging-market economies is driving the underlying strength in commodity prices, which could5 c! F5 l& b; n
be further reinforced temporarily by supply shocks arising from recent geopolitical events.  K1 \! z7 O: p% u/ [- r& V

- |/ X# y3 w) s8 n; Y% r* K2 ?The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of5 V" Z( B! D9 C7 g5 v
the anticipated rebalancing of demand. While consumption growth remains strong, there are2 ~; \) o" }. o
signs that household spending is moving more in line with the growth in household incomes.
+ A9 m9 w' q& {, }! [: Q% {; ABusiness investment continues to expand rapidly as companies take advantage of stimulative; F- g  D. \- d+ A
financial conditions and respond to competitive imperatives. There is early evidence of a0 L9 O/ u9 [& ^" I9 x  B
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.
0 v& v8 Z& G; L" C% c1 D% S  mHowever, the export sector continues to face considerable challenges from the cumulative effects/ N/ A/ Q7 h' m+ g! [3 R3 X
of the persistent strength in the Canadian dollar and Canada's poor relative productivity
( ?. {) {* e2 D$ Lperformance.) T9 B1 `7 ^( L$ W+ {1 x

! d4 F* A7 w8 e1 r6 ~While global inflationary pressures are rising, inflation in Canada has been consistent with the0 ]9 \, o$ E$ I- I  [* I6 B- g8 y
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
* ?$ L# O) L1 E. ^2 ?. d* }2 bconsiderable slack in the economy.
+ N% O9 w) R/ Y) u; {7 h: Q0 F+ m, w+ b7 G# B  _8 H
Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
0 ^$ L6 ^) a6 l* C7 Q3 [at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
* B/ F4 z& ?: [' E1 [3 R8 o2 per cent inflation target in an environment of significant excess supply in Canada. Any further
/ d( R3 h/ H  mreduction in monetary policy stimulus would need to be carefully considered.
6 D- P: g7 M, h9 R% l& F; Z3 KInformation note:
/ s* k5 F' K7 b: [- u, i7 c4 W$ W2 P. g: I+ l5 i# l" @; b
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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