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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.
. ~; a, S% _( L6 t+ ^6 e# I4 z5 F: R! u1 Z; y
The global economic recovery is proceeding broadly in line with the Bank's projection in its
  S; o; L" X) z4 `January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
0 [' k7 m9 z0 t$ U- dsolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing; d; W) ]/ f0 l  W
challenges associated with sovereign and bank balance sheets will limit the pace of the European
; h- P) U0 c4 v: z0 z+ W" s+ b0 Lrecovery and are a significant source of uncertainty to the global outlook. Robust demand from3 [- F* S4 K% x" j
emerging-market economies is driving the underlying strength in commodity prices, which could! k& V1 v) A) E2 K- \2 C
be further reinforced temporarily by supply shocks arising from recent geopolitical events.8 T. {, L! R2 m* m* t, T1 y/ W

( U9 w' d" P2 y# H3 OThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of4 `- w0 c. ^' S& k* Y0 T
the anticipated rebalancing of demand. While consumption growth remains strong, there are
+ ~! p# O1 F6 u5 _signs that household spending is moving more in line with the growth in household incomes.8 e; k; K; T  N% V8 u5 D% g
Business investment continues to expand rapidly as companies take advantage of stimulative
& P: J3 J  B( c. K$ B; Y1 P* nfinancial conditions and respond to competitive imperatives. There is early evidence of a
0 g3 m/ S$ F( n3 r3 T' lrecovery in net exports, supported by stronger U.S. activity and global demand for commodities.) S) Y% H: e" m# x
However, the export sector continues to face considerable challenges from the cumulative effects2 J6 c3 @  @9 \; @9 y
of the persistent strength in the Canadian dollar and Canada's poor relative productivity& g: b; E# }3 Q! D! F7 O
performance.7 h( i/ F; _) J3 i8 {; O

3 ]3 p, L( d" I, M3 eWhile global inflationary pressures are rising, inflation in Canada has been consistent with the
# r# D1 |0 p4 K6 _Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the) v. v/ p4 c- k1 O0 {! ~; O
considerable slack in the economy.
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" u0 X7 [: {/ i$ L! R+ V6 a% [Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
7 [8 V, }0 }/ s* J5 F8 Cat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the9 b# r' l4 i. h. X6 K, P
2 per cent inflation target in an environment of significant excess supply in Canada. Any further/ `: Y7 ^6 ~  g  j% A% @  d. j8 m& f
reduction in monetary policy stimulus would need to be carefully considered.
2 D+ q$ D& I2 n( CInformation note:% w- M6 |7 a# F" @) b# f" ~$ Q

5 \! ~& u9 t- PThe 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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