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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.
* e0 V0 `$ \& j  {+ c1 z1 q3 b; M, J) Z$ L' b- e
The global economic recovery is proceeding broadly in line with the Bank's projection in its
6 k/ i3 w5 o) BJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
7 u9 k1 D4 J. Ksolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing- v4 r% x* i! i- _1 O
challenges associated with sovereign and bank balance sheets will limit the pace of the European
1 V$ ]3 {( V, j: Zrecovery and are a significant source of uncertainty to the global outlook. Robust demand from
: E, p- R% p6 k6 J: Lemerging-market economies is driving the underlying strength in commodity prices, which could
- z1 d% \6 L% |. y: Q: ebe further reinforced temporarily by supply shocks arising from recent geopolitical events.% V& h# I0 |9 I! i& L
9 T0 R- f! C; l, x/ M
The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
( r& h/ E6 _( R3 ]) r, \the anticipated rebalancing of demand. While consumption growth remains strong, there are
1 K: z4 Q2 W  P2 fsigns that household spending is moving more in line with the growth in household incomes.2 e" Q1 f7 Y, _% u5 }: g& l
Business investment continues to expand rapidly as companies take advantage of stimulative  h' @" Z4 u, C. U% d0 @# q7 i8 r
financial conditions and respond to competitive imperatives. There is early evidence of a
" M0 y) {. a/ f) |, Zrecovery in net exports, supported by stronger U.S. activity and global demand for commodities.
8 |" m+ L# |# p8 j2 DHowever, the export sector continues to face considerable challenges from the cumulative effects) _; E6 O+ _+ s5 N- h6 H  _! y3 J
of the persistent strength in the Canadian dollar and Canada's poor relative productivity) h" S" g" a# [  e) ^
performance.
3 o# L" T. G" F% P+ [% \
4 T5 |! i, J6 B. q( ~4 O; N* HWhile global inflationary pressures are rising, inflation in Canada has been consistent with the
+ a0 U* H; F5 m* g; H- V" hBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
0 s) G# j1 c- E% u& R* a6 ]considerable slack in the economy.+ ^4 I, p& O* O8 p/ I" S
: o/ n+ U( O! I; W6 A
Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate5 o9 l$ v" K+ L+ ?- j# B2 ?
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
( f% `5 n% j1 o, u2 per cent inflation target in an environment of significant excess supply in Canada. Any further7 u; o$ Q/ ]2 I. x- k
reduction in monetary policy stimulus would need to be carefully considered.
3 y$ ^. X7 F6 E3 NInformation note:" ^- [3 X0 [- M, y( n' O

: {$ [& t9 W, z: K( {. 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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