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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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6 [* [6 W8 O2 X6 I* ZThe global economic recovery is proceeding broadly in line with the Bank's projection in its' S* Q. v% L$ H& A! x$ m+ `# ]
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is, r$ g, L+ p! y7 f, A
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
2 ?$ S) w1 ^- H$ X. Mchallenges associated with sovereign and bank balance sheets will limit the pace of the European
0 u" K/ n# ]1 ]( jrecovery and are a significant source of uncertainty to the global outlook. Robust demand from! Q& F; o% J1 [
emerging-market economies is driving the underlying strength in commodity prices, which could5 F/ E5 Z; c9 Y* {8 [0 R) m5 ]
be further reinforced temporarily by supply shocks arising from recent geopolitical events.
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2 p  u, s% T3 j$ B/ iThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of5 P' E9 u4 j& n& }4 ^
the anticipated rebalancing of demand. While consumption growth remains strong, there are. l  I/ j/ h7 ?
signs that household spending is moving more in line with the growth in household incomes.' @" _9 h; V2 m: E& K; a
Business investment continues to expand rapidly as companies take advantage of stimulative
; t7 l: j) e; ?3 I: H/ qfinancial conditions and respond to competitive imperatives. There is early evidence of a
' ~- M) l9 @5 w7 l. nrecovery in net exports, supported by stronger U.S. activity and global demand for commodities.! K7 k7 h( s' j( L* W7 [
However, the export sector continues to face considerable challenges from the cumulative effects
) t7 d$ ^9 O! A- u3 r/ {) gof the persistent strength in the Canadian dollar and Canada's poor relative productivity  i( M. i$ [: [% c) Q/ d& b
performance.. T0 l3 F* }* \' Y6 s1 c

5 g; C/ ^% N! Y- B6 `6 m/ CWhile global inflationary pressures are rising, inflation in Canada has been consistent with the) X) z: q: w/ m+ p3 V! P/ r: g
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the- F( D$ r* a/ j. _
considerable slack in the economy.# w8 S& _  \+ O
! Z% N  n% v1 M& Z% ?
Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
) [0 o4 {4 O- G& x7 a- P3 J1 ^at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the. B4 t* B6 B) U7 H- _& s" Z
2 per cent inflation target in an environment of significant excess supply in Canada. Any further
2 x4 C9 ^  ^4 ~5 rreduction in monetary policy stimulus would need to be carefully considered.
2 }  g# U- Y' QInformation note:
$ A& _/ D% n# Y: H( C( z9 M: ]8 _8 J) ?' n( u7 A
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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