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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.0 m$ V) N) z: |# j: V4 r

! `1 l$ D9 s! l0 bThe global economic recovery is proceeding broadly in line with the Bank's projection in its8 C) ]1 [/ |; b! \
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
) W- X4 u7 h" i" T4 g8 t5 a3 _0 U( xsolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
7 P8 d- ]5 u* x# w$ [2 }9 Echallenges associated with sovereign and bank balance sheets will limit the pace of the European/ y8 W8 G/ O; P
recovery and are a significant source of uncertainty to the global outlook. Robust demand from4 E1 Q* M1 u1 g: j  D* Z$ q
emerging-market economies is driving the underlying strength in commodity prices, which could9 K7 L" A4 ~; C
be further reinforced temporarily by supply shocks arising from recent geopolitical events.
2 G4 Z" A/ k9 E; |' f
2 Q4 p: _  D# k6 p, i+ m6 {; x3 E! oThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of2 G4 l" v6 f: [0 \. d, y; z
the anticipated rebalancing of demand. While consumption growth remains strong, there are
! o1 r% H6 B, e- f$ dsigns that household spending is moving more in line with the growth in household incomes.! f9 ^) I# Y5 u- e5 F7 g8 `9 f' R
Business investment continues to expand rapidly as companies take advantage of stimulative/ w9 k( v6 v6 Z: ]: h
financial conditions and respond to competitive imperatives. There is early evidence of a3 c$ l# Q& N+ O
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.
+ d4 r$ t8 N/ O. V- B* Z3 f" }However, the export sector continues to face considerable challenges from the cumulative effects
* j) m8 Q# _* y5 {+ Xof the persistent strength in the Canadian dollar and Canada's poor relative productivity
9 Y0 u; e9 c9 X0 u, }4 @  t, rperformance.
6 i& y6 r6 M/ w4 b( h# w
( J/ a' I* Q! `& F; P9 xWhile global inflationary pressures are rising, inflation in Canada has been consistent with the
  l; L1 C5 t8 Z8 D" O1 I" j' @$ I5 s( @Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the; u0 j. Z, Y) q% V. d4 g1 [' ]& |
considerable slack in the economy.
: ]. V. K; |& ~! S3 C+ E' Q
3 [# |5 E2 `' \) ]2 V' jReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate# V% v# |5 P$ {2 D( u1 O  Q
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
: Y4 j; {8 j9 h! \2 per cent inflation target in an environment of significant excess supply in Canada. Any further% f& ]+ B# `" Q  J& g
reduction in monetary policy stimulus would need to be carefully considered.
  ?6 H  n& q: b6 gInformation note:
, ]( T+ u. G$ }2 v( j. E9 N0 l) J7 S0 t
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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