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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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1 A' `5 v0 f* _7 m1 ~5 VThe global economic recovery is proceeding broadly in line with the Bank's projection in its
% A/ T. T, l1 C% [: V# f9 [January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
) ]0 q" b5 O# P6 R8 ysolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing5 M$ T& }. N3 n3 e! G* H5 S" j! ^( K
challenges associated with sovereign and bank balance sheets will limit the pace of the European1 I  K( Z  c& J- Y' v
recovery and are a significant source of uncertainty to the global outlook. Robust demand from. Z* S& v) H; M/ Y2 _$ Y% n
emerging-market economies is driving the underlying strength in commodity prices, which could
7 G, w! x' X- E, G8 Zbe further reinforced temporarily by supply shocks arising from recent geopolitical events.$ E5 k0 s4 E; K: N0 `5 ~
# @$ Q: K& O5 @+ U( g" \
The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of/ {9 h' |4 V$ T# ?6 h  k0 p! Y
the anticipated rebalancing of demand. While consumption growth remains strong, there are/ G' F' I' H5 H  N; ]- }
signs that household spending is moving more in line with the growth in household incomes.6 \/ h7 y& X9 H( l5 |- Y- [% N
Business investment continues to expand rapidly as companies take advantage of stimulative. e7 G' L7 z' M
financial conditions and respond to competitive imperatives. There is early evidence of a
0 l- e6 E; S1 D( Z* q7 crecovery in net exports, supported by stronger U.S. activity and global demand for commodities.
$ x5 I; r' q( ~9 BHowever, the export sector continues to face considerable challenges from the cumulative effects
0 J" ]* q, V+ `5 h, h! t( @of the persistent strength in the Canadian dollar and Canada's poor relative productivity. v" k5 D  i9 d/ W9 a7 k* Q
performance.
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8 o0 }) s+ u; d( @While global inflationary pressures are rising, inflation in Canada has been consistent with the4 Q, i4 F6 o/ e) h
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
' o0 p4 o) H# Q: A- o. nconsiderable 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
3 J& d9 }. W2 Jat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
( V+ K9 z# b# V( f2 per cent inflation target in an environment of significant excess supply in Canada. Any further
  {5 Y) }% D* q3 h" M+ yreduction in monetary policy stimulus would need to be carefully considered.
0 v  n. j" o! u1 A& w0 FInformation note:/ y6 `( M/ |3 A7 H. O3 k
* y% c" j7 l$ {9 U* ~: |
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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