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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.+ T/ z7 ?7 Z% E; B% i3 r% t

3 j) ]8 t" X% s  |The global economic recovery is proceeding broadly in line with the Bank's projection in its
& H2 x. X1 M- h+ g2 d+ g: A" O* bJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is+ N0 l$ s9 D& j/ O, Q
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
. z: a" W! h$ h' A; r2 ychallenges associated with sovereign and bank balance sheets will limit the pace of the European
# D; I, _1 j, \+ i: _1 X! k' K5 Xrecovery and are a significant source of uncertainty to the global outlook. Robust demand from6 Q3 R5 q& b2 Y- q
emerging-market economies is driving the underlying strength in commodity prices, which could
7 V$ F/ c( ]/ Bbe further reinforced temporarily by supply shocks arising from recent geopolitical events.
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7 U1 b, e) e: }( RThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of5 q  F: }0 F' W- `7 \- s" o
the anticipated rebalancing of demand. While consumption growth remains strong, there are
" V- U" P/ N/ w& ^, Y* Qsigns that household spending is moving more in line with the growth in household incomes.  s9 Z, W/ q! i9 o+ a
Business investment continues to expand rapidly as companies take advantage of stimulative
* @- T& i: m* N  \& ]$ M6 Zfinancial conditions and respond to competitive imperatives. There is early evidence of a
( D: \6 @. D; y( V' orecovery in net exports, supported by stronger U.S. activity and global demand for commodities.$ ~5 L& s; r. u! ?" G* b* a
However, the export sector continues to face considerable challenges from the cumulative effects
% y" h+ S$ h( {4 Q5 `of the persistent strength in the Canadian dollar and Canada's poor relative productivity! T! D1 P& P& n- _- n
performance.
7 R- ^( y# T- z) j+ r1 y
$ `, V% a8 ^$ W7 cWhile global inflationary pressures are rising, inflation in Canada has been consistent with the+ |  C' n$ r3 S' x! P9 F
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the; l4 v) h; ~6 O! R0 `. w8 c& \
considerable slack in the economy.% t2 G5 i+ S6 l5 u& l
4 P/ E/ H+ v# |! `4 h
Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate' O. m+ a9 J) j. D" P( N  z1 t2 _
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the# O( [! S$ P0 d
2 per cent inflation target in an environment of significant excess supply in Canada. Any further5 i) r) A$ m+ Y. E
reduction in monetary policy stimulus would need to be carefully considered.
! }) h6 \2 o/ CInformation note:
4 [& f1 f& u( o6 ^" o: C, A6 O* B% w6 d
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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