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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.
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The global economic recovery is proceeding broadly in line with the Bank's projection in its" i2 X0 x. e7 U
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
5 ?  T2 f/ H8 m* A" [! m+ qsolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing4 @9 Y% t, g; s; v
challenges associated with sovereign and bank balance sheets will limit the pace of the European
5 Z3 O. u! v0 s# Arecovery and are a significant source of uncertainty to the global outlook. Robust demand from
; C0 F; `6 b" w  S, S. J: wemerging-market economies is driving the underlying strength in commodity prices, which could
- l' P0 _/ F: ~8 X" i6 v5 U, m' Dbe further reinforced temporarily by supply shocks arising from recent geopolitical events.
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$ E$ l+ F7 s; D; @' c6 A( H0 `" q7 WThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of! }3 m' ?7 b- I' ^9 ^- {& ]
the anticipated rebalancing of demand. While consumption growth remains strong, there are& O+ u# B; k0 O, a) ?7 i9 Q! L
signs that household spending is moving more in line with the growth in household incomes.
% O2 z8 H) ~- [) n: HBusiness investment continues to expand rapidly as companies take advantage of stimulative
7 O4 ^& P7 _" L3 H6 i- c' w' jfinancial conditions and respond to competitive imperatives. There is early evidence of a$ A8 u) E% S; w2 M) `' J
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.$ m9 p- B8 k" U! V
However, the export sector continues to face considerable challenges from the cumulative effects8 A4 M. y! q  e* }, M5 d, `( `2 b
of the persistent strength in the Canadian dollar and Canada's poor relative productivity
2 Q& V# `4 r  c; ~performance.
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While global inflationary pressures are rising, inflation in Canada has been consistent with the9 Z0 U3 S5 e7 y" ]
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
+ T/ a# ^5 t% ^5 i1 h+ h3 Vconsiderable slack in the economy.
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  e6 P+ I9 u) Q. {4 qReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate. p4 d9 m$ O- T# P# {
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the8 H6 w2 {: m, B+ T! c$ p
2 per cent inflation target in an environment of significant excess supply in Canada. Any further
( X3 a- N# m; \7 ~8 j9 oreduction in monetary policy stimulus would need to be carefully considered.( l4 g' U& {; R0 q& e) f
Information note:+ G+ u1 l/ ?/ I5 E& r
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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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