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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.# T0 L3 d4 K( P* H

9 m/ b- D  o. I3 s2 PThe global economic recovery is proceeding broadly in line with the Bank's projection in its) i1 l. E7 G# i$ N, Z" M
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is9 l3 ?" e9 N- |$ V+ O% S2 `; c& R
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing) D6 y" T! z8 a! R
challenges associated with sovereign and bank balance sheets will limit the pace of the European) x0 \6 W4 X( d# j) n0 d6 ~, ?
recovery and are a significant source of uncertainty to the global outlook. Robust demand from7 |; K0 [  H: n
emerging-market economies is driving the underlying strength in commodity prices, which could
9 R1 _" V! L4 z' tbe further reinforced temporarily by supply shocks arising from recent geopolitical events.* ?9 @8 l. P, E5 i2 c* B4 p

6 u* R8 U# F0 Y) t' {The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of: `5 `0 v1 P8 y; b/ j
the anticipated rebalancing of demand. While consumption growth remains strong, there are$ J# X- {% E/ U9 L
signs that household spending is moving more in line with the growth in household incomes.
8 H, w! \+ B5 K9 @4 c/ hBusiness investment continues to expand rapidly as companies take advantage of stimulative) @7 T! n* r' ~( c6 w
financial conditions and respond to competitive imperatives. There is early evidence of a, n( W1 J) Q$ G) \. C2 x
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.
3 J" J+ m* G* y0 C$ jHowever, the export sector continues to face considerable challenges from the cumulative effects( R$ Y' I) C! ]0 O( F2 k, X3 K
of the persistent strength in the Canadian dollar and Canada's poor relative productivity% N. N4 a' J5 R. {7 Q, q
performance.
( _% u6 l/ [- u9 ~" [
5 A5 M' b1 |& @5 G1 \While global inflationary pressures are rising, inflation in Canada has been consistent with the
/ O# h! V+ q  _/ iBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the& n+ ?, X/ ^# \9 p0 w' d2 T1 a
considerable slack in the economy.
% Y7 D* H9 _9 S' U0 O) ~, h; O9 Y  n' P& O2 }' n3 Y- e
Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
2 I* u, R0 W! I- K9 T0 aat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the0 }& ~6 k2 I: ]3 F
2 per cent inflation target in an environment of significant excess supply in Canada. Any further$ `+ t0 D# n2 I' z# p
reduction in monetary policy stimulus would need to be carefully considered.: _( d7 X2 W6 k/ a  j
Information note:; c8 H/ r8 z/ R8 B+ Y- D2 \
6 e: B, k8 r8 }
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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