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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.
7 D$ @9 M4 w( B& P5 U, Z
! R, v: s, n6 Z2 Q9 N" j$ UThe global economic recovery is proceeding broadly in line with the Bank's projection in its6 j& y8 j" e1 L4 G3 |7 H  x) m- A% w
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is  g: D8 \# g$ P& E% ^$ C8 T: {4 C
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
3 ?6 `5 Q& N5 L' T; mchallenges associated with sovereign and bank balance sheets will limit the pace of the European7 D# t" n& |, I8 O8 c+ u
recovery and are a significant source of uncertainty to the global outlook. Robust demand from+ S- s6 i; f1 h3 p* |
emerging-market economies is driving the underlying strength in commodity prices, which could
; ^% J$ V9 P' o- abe further reinforced temporarily by supply shocks arising from recent geopolitical events.
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5 a  a6 m9 j" B$ D, A! LThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of; u3 \) H, }# |2 K2 B6 I/ K8 @
the anticipated rebalancing of demand. While consumption growth remains strong, there are3 q1 ^- y& b7 F
signs that household spending is moving more in line with the growth in household incomes.. |' x* z( B* k) x5 h4 a* F
Business investment continues to expand rapidly as companies take advantage of stimulative
3 v) K% |% W; X5 wfinancial conditions and respond to competitive imperatives. There is early evidence of a
( Z+ _! d  r$ m/ w* Grecovery in net exports, supported by stronger U.S. activity and global demand for commodities.
, e/ o% T& `' l% P4 V- j  QHowever, the export sector continues to face considerable challenges from the cumulative effects
1 a1 L% b9 Q0 ~/ d. r( h/ Y: ^of the persistent strength in the Canadian dollar and Canada's poor relative productivity
5 u- c# C8 s! T; {* qperformance.* G; z$ g# [7 e5 U
/ A1 ]3 |: b/ _
While global inflationary pressures are rising, inflation in Canada has been consistent with the
' L; s2 N. u& f. M9 B6 {Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the; m: ?$ n: O. \# M* F( }0 \
considerable slack in the economy.3 J: A4 n# R( p" q) k* g$ z3 ~4 }
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Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate& E0 F& Q6 D. a3 Z+ g; J
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the  H$ [& _( f0 @9 z1 s& n, O
2 per cent inflation target in an environment of significant excess supply in Canada. Any further+ o3 M7 V3 K$ @  H$ h' Z
reduction in monetary policy stimulus would need to be carefully considered.! T7 |9 P, x: Q# C) f8 [" n: M
Information note:+ a% s0 D; D: n

6 n0 i$ q  G' Q% L5 v" kThe 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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