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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./ d' L( u! o5 T' H( y# e$ |  H$ c/ ]
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The global economic recovery is proceeding broadly in line with the Bank's projection in its
2 q. V1 r* t5 e& b/ k* x' _8 X/ KJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
3 v2 A/ y. F1 Msolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
% Y' p( Q& ~3 ^, A$ Nchallenges associated with sovereign and bank balance sheets will limit the pace of the European
1 r5 w. H$ C, v* K5 urecovery and are a significant source of uncertainty to the global outlook. Robust demand from$ E- w3 F( O4 X  V) F/ S+ d
emerging-market economies is driving the underlying strength in commodity prices, which could
: c$ @+ n; ~/ F3 Q( Lbe further reinforced temporarily by supply shocks arising from recent geopolitical events.
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0 D( P, \7 i1 I8 `: P# ]The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of% V) r" g! d' R! L
the anticipated rebalancing of demand. While consumption growth remains strong, there are" d  k: W; O  H- O. C
signs that household spending is moving more in line with the growth in household incomes.+ T  s2 B( |7 ^, R& N- V; T. k
Business investment continues to expand rapidly as companies take advantage of stimulative2 [0 y: C* s9 y" e
financial conditions and respond to competitive imperatives. There is early evidence of a
9 Z; V0 j, q9 m. Y; jrecovery in net exports, supported by stronger U.S. activity and global demand for commodities.
0 E: s3 c7 i' U+ K& {However, the export sector continues to face considerable challenges from the cumulative effects1 T( Z* ^5 f+ z2 j' _6 |( e: d
of the persistent strength in the Canadian dollar and Canada's poor relative productivity
3 y& V8 W* D; U0 Zperformance.
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' K! v9 n0 P/ o4 tWhile global inflationary pressures are rising, inflation in Canada has been consistent with the2 f0 v. ^* X+ H
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the# u& @, n, X- W# t( J
considerable slack in the economy.
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Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate+ F& k9 {; a& _. d
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the; K6 \: F# ~6 n1 D% W; z
2 per cent inflation target in an environment of significant excess supply in Canada. Any further
4 j+ P# A5 M1 \7 Z9 g; \( e9 h5 L$ _* v* Hreduction in monetary policy stimulus would need to be carefully considered.% S, S, N/ Z" P& S
Information note:
9 F3 K2 E6 a. F" W$ D1 h' H% [) E" V
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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