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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.' z4 ?! ~8 u$ k2 W- I  f$ t7 b

) o* V6 Q" I, nThe global economic recovery is proceeding broadly in line with the Bank's projection in its
0 o2 _1 ]' t  H1 J# ~9 p5 q3 SJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is& f6 Y3 a+ V* q( {' Y( C
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing! Z9 u2 g5 C' I# ~, u; s" Y2 _
challenges associated with sovereign and bank balance sheets will limit the pace of the European
) ]4 u2 t0 Y( B) `$ o* r, Crecovery and are a significant source of uncertainty to the global outlook. Robust demand from
& o8 G: i, D7 i, O( pemerging-market economies is driving the underlying strength in commodity prices, which could
: {' b: m- {+ u" `be further reinforced temporarily by supply shocks arising from recent geopolitical events.
7 _0 V) ?5 @$ }
# g2 u. M' d* q9 N+ iThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
: C- s1 j8 d% f3 W, bthe anticipated rebalancing of demand. While consumption growth remains strong, there are. g" D% V0 J& V" W1 G% C
signs that household spending is moving more in line with the growth in household incomes.
$ d# S; C! I3 G& XBusiness investment continues to expand rapidly as companies take advantage of stimulative3 {7 r* Q) B. G( b2 x5 m/ U
financial conditions and respond to competitive imperatives. There is early evidence of a
: D( L8 R" L( s1 w8 V  f, e0 c  Xrecovery in net exports, supported by stronger U.S. activity and global demand for commodities.
8 x) ?! t' A! \/ i; T5 g4 G* QHowever, the export sector continues to face considerable challenges from the cumulative effects: u# `0 F% _1 \% _
of the persistent strength in the Canadian dollar and Canada's poor relative productivity
8 X2 b# Q. \( E2 D. c; Y  v1 @performance., N8 z9 `! O0 \  G, Q5 e7 d6 l! B9 w# U
7 t" l, k# C& B1 g5 k& e
While global inflationary pressures are rising, inflation in Canada has been consistent with the7 O, X; n# B- L' W+ z7 `! u# F
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the1 @' u" E& r8 X% {' B/ Y; i; ]( I
considerable slack in the economy.
. l5 }4 ~. |+ T5 k
: ^4 \  F, h% FReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate; S" S1 z* Z7 F
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the* M: E+ Y" s: c% [3 z* b  k
2 per cent inflation target in an environment of significant excess supply in Canada. Any further
& v/ T7 k. z9 e! zreduction in monetary policy stimulus would need to be carefully considered.
' Y/ v3 f3 a' b6 }% n, @0 QInformation note:) c  y! _( ]+ b; y
; W+ I+ H0 F& ~7 a
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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