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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.+ @+ R# y8 k  m+ U
7 W& d) x) X' |
The global economic recovery is proceeding broadly in line with the Bank's projection in its7 x7 c2 z5 f) E# `, k
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is) c4 z& N! a+ R( a' B4 S
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing% u; O" o) J4 `1 H
challenges associated with sovereign and bank balance sheets will limit the pace of the European" K4 s. v9 P) g. W& s/ J- o
recovery and are a significant source of uncertainty to the global outlook. Robust demand from9 A# x$ L+ ~  V2 t
emerging-market economies is driving the underlying strength in commodity prices, which could
5 C3 ?# z6 D6 ~3 @% Pbe further reinforced temporarily by supply shocks arising from recent geopolitical events.
0 {( N2 u, |( ?5 z$ S7 m$ G
$ o# G3 z8 `8 j. H) z* bThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of: z4 Q7 U, L8 L4 `7 }* M0 t1 N% O0 T( @
the anticipated rebalancing of demand. While consumption growth remains strong, there are
4 b8 E4 s) n' \7 ?# d6 M5 ?$ f0 Z, Osigns that household spending is moving more in line with the growth in household incomes.
& [5 A2 f& m3 V$ v. }$ H9 ^5 vBusiness investment continues to expand rapidly as companies take advantage of stimulative/ q. C8 N  R5 Z. e  N8 e
financial conditions and respond to competitive imperatives. There is early evidence of a8 m: a  L' i2 v7 N; T7 a
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.
4 q- U& Y+ m6 J8 d7 c  `9 Q! j4 u8 NHowever, the export sector continues to face considerable challenges from the cumulative effects
: I4 k4 }1 c4 k) _of the persistent strength in the Canadian dollar and Canada's poor relative productivity$ p3 I- g: K' x/ c* d
performance.
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# i1 H8 W) w0 AWhile global inflationary pressures are rising, inflation in Canada has been consistent with the
4 k$ w( Y' B6 m- P+ g& \8 A" Q, V; nBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
$ L  j7 n0 c1 ^, x1 mconsiderable slack in the economy.4 E% P! ^3 E! A5 F

, N/ |$ @& i- _5 b  VReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
8 X! b. O2 ^6 O1 \at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
# f! ^8 S. r# Q2 per cent inflation target in an environment of significant excess supply in Canada. Any further) k+ u! Z, Q2 \9 H  G; f9 [
reduction in monetary policy stimulus would need to be carefully considered.
: c$ Q. N7 C  }0 [9 H- JInformation note:
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' v4 `# e/ a9 v% |( [) k2 t; TThe 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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