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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.1 U9 e: w% L# T& L" c
3 R. k  {1 B  c% B/ [% r9 y
The global economic recovery is proceeding broadly in line with the Bank's projection in its; @- Y2 t$ ^7 I3 \- P; H- w
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
. x* B1 |3 x: [, S* r7 p, q: ~& Jsolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
# ?" C( [0 [0 H# t9 @challenges associated with sovereign and bank balance sheets will limit the pace of the European
; q# x" J+ `; ~6 M/ wrecovery and are a significant source of uncertainty to the global outlook. Robust demand from* b% ?. F5 _, c) b- W8 b
emerging-market economies is driving the underlying strength in commodity prices, which could) d( {) E6 I4 _
be further reinforced temporarily by supply shocks arising from recent geopolitical events.% T% J* R$ c; F* N* j( s
  R/ m( W/ @7 \( f; f' y
The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of& ?8 A1 `7 R7 @" a! r
the anticipated rebalancing of demand. While consumption growth remains strong, there are
' r- |6 B7 y5 M% e9 k) |3 d9 bsigns that household spending is moving more in line with the growth in household incomes.
6 |9 k& d9 c' |! k  p% mBusiness investment continues to expand rapidly as companies take advantage of stimulative: f* w  R8 B% I# \/ a" v3 D( l
financial conditions and respond to competitive imperatives. There is early evidence of a) b8 }; U8 [- a* J3 y) J/ L; M
recovery in net exports, supported by stronger U.S. activity and global demand for commodities." L8 N6 z9 ~& K5 s% C8 N" q" @8 c
However, the export sector continues to face considerable challenges from the cumulative effects, ?3 N. H" s2 k
of the persistent strength in the Canadian dollar and Canada's poor relative productivity
( u" o1 s  c% h5 xperformance.: Q  z" f: t( G8 _: E

. b5 r  A6 h' X" ?. rWhile global inflationary pressures are rising, inflation in Canada has been consistent with the
" U  u' h. v* i$ c9 t# dBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
8 |5 [& w$ v5 I' dconsiderable slack in the economy.8 q# g9 m; y, A3 d, t; `* W

4 c- \8 `# y1 NReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate- X4 T, {  B6 L# \6 N% V9 P
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
3 c2 R7 H9 B" l$ L3 E3 {: ?2 per cent inflation target in an environment of significant excess supply in Canada. Any further
, F! |3 u6 w$ ~6 J' Yreduction in monetary policy stimulus would need to be carefully considered.
6 U$ G4 Q: b' [9 f9 ~Information note:
9 y! e$ `3 D# ]; l7 l4 x2 h0 j2 z
" X7 m- X3 F1 I8 yThe 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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