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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.8 Z$ r8 `5 a/ S2 t; C

4 I4 E, ^; w* K8 i. S2 OThe global economic recovery is proceeding broadly in line with the Bank's projection in its, G) Y6 }, v3 ?
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is1 Z! |4 u/ T" H: b3 V* P9 ?
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing% `& ~. Z# g4 ]( U: A
challenges associated with sovereign and bank balance sheets will limit the pace of the European
* y  s& H) h. m9 _. z- O2 E  xrecovery and are a significant source of uncertainty to the global outlook. Robust demand from6 I" S& L2 `3 ]) e, b9 N0 @
emerging-market economies is driving the underlying strength in commodity prices, which could
+ w) n) S) t8 c5 h0 j$ j( Wbe further reinforced temporarily by supply shocks arising from recent geopolitical events.
# E$ u( D- ^5 G* K2 c' Z" m  D/ R
; Z5 r; }% p; N9 m5 f$ ?. VThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of4 q: F& C& R( q+ E
the anticipated rebalancing of demand. While consumption growth remains strong, there are
" `) ?( Z7 A, R# X9 @) Ssigns that household spending is moving more in line with the growth in household incomes./ B4 `3 `/ Z6 W  S  ]: K
Business investment continues to expand rapidly as companies take advantage of stimulative0 w9 ~+ s! I* |+ O; m2 Q  R2 w/ E
financial conditions and respond to competitive imperatives. There is early evidence of a5 B. z) L! f/ ?8 u
recovery in net exports, supported by stronger U.S. activity and global demand for commodities." u9 i. z) H- V, Y5 f" j
However, the export sector continues to face considerable challenges from the cumulative effects
3 V* A3 w9 E5 @9 X( r4 d( Yof the persistent strength in the Canadian dollar and Canada's poor relative productivity
1 T( N  L& Q; h& {$ @performance.
! N' T2 Z  s* A0 U" [' {* ^1 k5 @/ q/ \6 E" c- l% [5 N' W2 J
While global inflationary pressures are rising, inflation in Canada has been consistent with the
6 Q' z( j* a5 V  }- q; VBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
% U# x* f; O* R  M4 ^considerable slack in the economy.$ T1 b( L1 b9 b2 F
9 b# [# s( T8 ~- Z8 R) P
Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate1 }6 d. a( S3 o7 w& ]6 e
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
; P2 U  |$ E% h0 c$ u2 per cent inflation target in an environment of significant excess supply in Canada. Any further) [3 r1 V: _0 s/ @- L/ ~& K$ L" N+ S, n
reduction in monetary policy stimulus would need to be carefully considered.! Y2 U& c5 V9 |& \
Information note:
6 \6 d; _+ `' k% f# p, O! A5 H- G$ R( w$ V
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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