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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
3 v% S' r! p' ]  ^3 c& K4 l3 ?January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is8 N; L3 u8 p! j( i- K/ p1 {
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing# J8 {+ u' C" X1 N* y
challenges associated with sovereign and bank balance sheets will limit the pace of the European
9 L+ |/ T" w& d5 Erecovery and are a significant source of uncertainty to the global outlook. Robust demand from# t  y8 E& T  f
emerging-market economies is driving the underlying strength in commodity prices, which could6 c9 R. ?0 |; |: n: m3 {4 N
be further reinforced temporarily by supply shocks arising from recent geopolitical events.
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9 B6 E, }8 U, V# l) J/ y2 b! BThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of/ x5 f/ i4 m6 L& U9 x$ ~% f
the anticipated rebalancing of demand. While consumption growth remains strong, there are5 \" `: A. ?) d2 g  `3 r. G1 h
signs that household spending is moving more in line with the growth in household incomes.
) e0 m, k  Q+ D  f2 D( `Business investment continues to expand rapidly as companies take advantage of stimulative
8 a3 L* J- U$ t5 b3 }financial conditions and respond to competitive imperatives. There is early evidence of a# R, f  Y/ L* u9 l, J$ ?
recovery in net exports, supported by stronger U.S. activity and global demand for commodities." N5 P5 R7 m) B6 Y4 g5 W
However, the export sector continues to face considerable challenges from the cumulative effects! J# Y* Q- |  n; b; j9 h" ~7 n* Z
of the persistent strength in the Canadian dollar and Canada's poor relative productivity
3 g9 U7 N3 K7 H$ E( d. lperformance.
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4 U5 F. q. M- ~5 AWhile global inflationary pressures are rising, inflation in Canada has been consistent with the
, h" }) ~) m5 ]" ]Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the+ l& m% U5 M& W- @! c# E. G! b! E8 X
considerable slack in the economy.. J8 N  J9 `  n  v
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Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate8 w4 a" g, O& S. ?
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
( F! ^* f, m  S: g8 h6 A& K2 per cent inflation target in an environment of significant excess supply in Canada. Any further
- L# n) z" A# W( R3 U  u9 creduction in monetary policy stimulus would need to be carefully considered./ Z0 X  _/ y1 I2 A. k
Information note:" q" \+ u. s9 \* F
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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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