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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.
8 Q6 R, ]  H3 N8 i! K; ^$ H2 j4 a0 y/ c
The global economic recovery is proceeding broadly in line with the Bank's projection in its
7 T' o  q' N3 ?4 n" h1 F8 H" ~January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is2 r4 q$ t: d; T2 _! s' w* O
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing3 ]- ?& M' V2 i4 d, ]2 a
challenges associated with sovereign and bank balance sheets will limit the pace of the European0 Z4 M  n$ l1 c7 q1 a: o5 c+ r
recovery and are a significant source of uncertainty to the global outlook. Robust demand from
- s0 r9 D3 |: T2 N3 eemerging-market economies is driving the underlying strength in commodity prices, which could
) A% [+ ?% Y+ H( j0 jbe further reinforced temporarily by supply shocks arising from recent geopolitical events.
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' u" d9 C, m# h9 DThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
' e4 }5 b; W/ c! L" F4 s" b* E4 C% qthe anticipated rebalancing of demand. While consumption growth remains strong, there are' B: f5 |( q: ^! J, ]& z9 G7 Y
signs that household spending is moving more in line with the growth in household incomes.! {# A' o. B/ b6 F
Business investment continues to expand rapidly as companies take advantage of stimulative7 I; B9 x0 K8 z
financial conditions and respond to competitive imperatives. There is early evidence of a5 @/ G0 W2 g/ d; \+ U, c
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.9 O* B+ \+ \6 d, V3 Z) i
However, the export sector continues to face considerable challenges from the cumulative effects5 M6 r/ x0 m: \2 t9 d1 F: T0 K5 Y: O* K
of the persistent strength in the Canadian dollar and Canada's poor relative productivity
! D: k/ q: T0 Q0 I0 i2 u# Y( rperformance.  X4 |2 F& _: i3 z# T% C7 m

* B- {3 q' U8 e) hWhile global inflationary pressures are rising, inflation in Canada has been consistent with the
1 {5 Z8 P3 D( `& ?Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
, h. ?7 |* w' ?1 A8 k7 ]0 gconsiderable 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- u' ~& o' c4 M" S9 c6 o
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
# Z0 n; X6 W2 k/ R$ W2 per cent inflation target in an environment of significant excess supply in Canada. Any further& G# i2 e$ v5 }; [4 Q! @0 d8 g
reduction in monetary policy stimulus would need to be carefully considered.. d% b. S: J9 E( ~4 L
Information note:/ N; ?4 h: s$ o

4 @2 \$ k: K6 ?3 j& V: A) y: UThe 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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