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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.
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The global economic recovery is proceeding broadly in line with the Bank's projection in its
3 a. Z5 K# e9 S1 ?! DJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is5 Q; d* ?7 W% h0 e
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing; E( X  v$ ?9 ~
challenges associated with sovereign and bank balance sheets will limit the pace of the European$ d# O4 W6 i8 z5 d' x
recovery and are a significant source of uncertainty to the global outlook. Robust demand from
- E( h1 e  U; ~( l1 hemerging-market economies is driving the underlying strength in commodity prices, which could8 E# F% @. L" F% Z1 @5 u" c
be further reinforced temporarily by supply shocks arising from recent geopolitical events.4 E; H" s& o/ y; e4 N

6 M8 f7 p+ R: F8 l' P& y! x2 mThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of  S9 O7 L# ~( {
the anticipated rebalancing of demand. While consumption growth remains strong, there are0 o! v  J* \- D  }9 c8 g
signs that household spending is moving more in line with the growth in household incomes.
8 x+ M4 T+ f) E. P6 iBusiness investment continues to expand rapidly as companies take advantage of stimulative4 Y8 N% O! d, }
financial conditions and respond to competitive imperatives. There is early evidence of a; B) `$ c( L3 g4 A& h/ i( z& c# f: I
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.
- K( X2 O' y/ x- V- T4 _% BHowever, the export sector continues to face considerable challenges from the cumulative effects* L* x* Y5 p7 ^+ \
of the persistent strength in the Canadian dollar and Canada's poor relative productivity0 n) P. _' x* O* b" Z
performance.
4 Y. C2 ?5 R, L5 U- q# _
% F7 Q- x! B; j' t% k# i2 ]While global inflationary pressures are rising, inflation in Canada has been consistent with the
9 s0 h! n/ s4 E, H* [1 W# `Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
  ^& K2 Z! E9 S% x! g: I( Jconsiderable slack in the economy.
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Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate. C0 }" C6 S6 X% Y2 r, x
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the' R$ C( x) ?! `% @8 c' z4 Y2 ^- ?7 e& f
2 per cent inflation target in an environment of significant excess supply in Canada. Any further
1 e2 D8 w" L( P6 x2 v7 Areduction in monetary policy stimulus would need to be carefully considered.: m8 B  m: G7 P" k+ w. w
Information note:7 G/ Y' S+ o: C; v/ L3 o8 I
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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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