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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.1 s4 d9 ~# K9 |2 N# F
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The global economic recovery is proceeding broadly in line with the Bank's projection in its
, H3 T4 X: }# w, A- x/ SJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
( g% z. d# Q( Asolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
/ [  e9 T# x# @. |+ }9 G: k8 y$ pchallenges associated with sovereign and bank balance sheets will limit the pace of the European# O# U: u8 r& M2 Q
recovery and are a significant source of uncertainty to the global outlook. Robust demand from
" r: e- _% }+ t6 M4 temerging-market economies is driving the underlying strength in commodity prices, which could; |  w: H* Y. B4 b
be further reinforced temporarily by supply shocks arising from recent geopolitical events.& O$ G2 K+ F3 o: s3 R% h9 G/ P
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The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of( q; [5 ]  U4 y- U% j  r7 J, L
the anticipated rebalancing of demand. While consumption growth remains strong, there are
% m( C$ t! ?8 K8 l4 r& L$ {signs that household spending is moving more in line with the growth in household incomes.
0 p$ [$ `$ n( e2 @2 p9 o4 jBusiness investment continues to expand rapidly as companies take advantage of stimulative
! u1 S2 Z. f2 @+ rfinancial conditions and respond to competitive imperatives. There is early evidence of a
( }. ^+ u5 ^' brecovery in net exports, supported by stronger U.S. activity and global demand for commodities.) |' F0 }: z2 k
However, the export sector continues to face considerable challenges from the cumulative effects
+ n5 _5 A8 p: {8 U5 s5 d2 Gof the persistent strength in the Canadian dollar and Canada's poor relative productivity
8 [3 W) s0 r7 r6 f5 p( E6 c+ yperformance.
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While global inflationary pressures are rising, inflation in Canada has been consistent with the) {& p9 i4 t* B. L) D
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
/ U' r- s  d& T3 Rconsiderable slack in the economy.) ^. f7 ?# _& o; f0 I  @

0 L6 J$ P" f& V* b7 {Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
' V9 v0 X4 c. U" L6 ?at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
% ]$ L! }5 L8 |( ^2 per cent inflation target in an environment of significant excess supply in Canada. Any further
: M9 i6 C( C9 w! @4 {5 Freduction in monetary policy stimulus would need to be carefully considered.
' g$ h4 c% \1 Y! j* l( A  hInformation note:( ?, [" d# H+ T+ n1 T

( ]* K: o# k5 P" p/ e/ g" J$ XThe 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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