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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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The global economic recovery is proceeding broadly in line with the Bank's projection in its; Y( S0 n! k6 k  x8 o+ G- ~) P
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
5 F# l* m: p; n: Lsolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
2 b. A- i0 \" [4 V: w% V. _challenges associated with sovereign and bank balance sheets will limit the pace of the European
& M7 Q3 V" k* B1 P( srecovery and are a significant source of uncertainty to the global outlook. Robust demand from
6 j- u" }: ]$ L% m9 |emerging-market economies is driving the underlying strength in commodity prices, which could4 f4 @7 C+ f! ]# H  G$ x7 F
be further reinforced temporarily by supply shocks arising from recent geopolitical events.* R! w& y3 @' U% E4 [
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The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
6 F( k. [: N( A( G5 {9 ~. A& _the anticipated rebalancing of demand. While consumption growth remains strong, there are
. E, F- o8 B9 F2 K& usigns that household spending is moving more in line with the growth in household incomes.
0 ~( Q0 U8 ]9 Q4 ABusiness investment continues to expand rapidly as companies take advantage of stimulative* ?/ I; p1 |5 @. M( z1 R
financial conditions and respond to competitive imperatives. There is early evidence of a! _, a' K& H& [& |! d( _
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.; `/ s4 r  d/ z5 z" {2 q5 ~
However, the export sector continues to face considerable challenges from the cumulative effects$ V9 o: x% k6 l& }( x! e4 V6 g
of the persistent strength in the Canadian dollar and Canada's poor relative productivity, l" E# X5 H* ~$ k
performance.
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4 w5 P5 s8 w2 x2 Z! h; DWhile global inflationary pressures are rising, inflation in Canada has been consistent with the" c% m9 _7 F* ^1 u% U
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the( s# C' Y8 T0 U$ n$ g, j4 E1 P
considerable slack in the economy.* H6 j0 w# }5 q! y+ |

8 B6 L' i' K) i+ w( Z. d$ k9 o( H; }: }Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
! `, {. l8 d% I1 c4 Lat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
# @2 v$ y' K) [3 {) l2 per cent inflation target in an environment of significant excess supply in Canada. Any further. N7 L8 Z5 p! Q
reduction in monetary policy stimulus would need to be carefully considered.
# y7 B4 H& {- }4 E. SInformation note:! j% T7 z/ H8 ]4 v5 ~
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The next scheduled date for announcing the overnight rate target is 12 April 2011.
大型搬家
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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