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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
老杨团队,追求完美;客户至上,服务到位!
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.6 P. S* \+ u* M1 k0 L
/ f8 q' k. c, I- @) U8 h" v
The global economic recovery is proceeding broadly in line with the Bank's projection in its- o! ]: ^- n4 Y% l  Q& J* v7 I
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
/ B0 n  h. G# Y# U5 E  msolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
& v- x  F, u7 D& |) I! Vchallenges associated with sovereign and bank balance sheets will limit the pace of the European; a9 t5 I* m" d( I
recovery and are a significant source of uncertainty to the global outlook. Robust demand from
- t2 J# i7 ^' F! C) I  D( B$ femerging-market economies is driving the underlying strength in commodity prices, which could
* a4 ?6 ^. D8 J7 q2 b& {- i% |be further reinforced temporarily by supply shocks arising from recent geopolitical events.
- `5 g/ {$ M* S/ _, g) N8 F! E  K  c9 C0 q* E6 a
The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
! b+ q- h5 P8 Dthe anticipated rebalancing of demand. While consumption growth remains strong, there are
1 c% s, E( a6 L" w* F7 c7 H% ]# Csigns that household spending is moving more in line with the growth in household incomes.
3 N+ r3 a7 D$ [0 r3 y% @Business investment continues to expand rapidly as companies take advantage of stimulative" f/ O( l% d# L+ b# Y/ Q
financial conditions and respond to competitive imperatives. There is early evidence of a
  |" h2 p; |7 A0 N7 E% @% d% _recovery in net exports, supported by stronger U.S. activity and global demand for commodities.* n0 N$ h- u' S4 }9 j: Z
However, the export sector continues to face considerable challenges from the cumulative effects
3 u! b. P8 c6 }: |4 E! q& gof the persistent strength in the Canadian dollar and Canada's poor relative productivity1 g: s4 k* n7 R1 z# M! ^8 T. y
performance.
$ b" b* h" U* k+ I4 b
2 a' E9 c+ S/ A9 K0 T. q' l% _While global inflationary pressures are rising, inflation in Canada has been consistent with the5 j+ V" v2 z, n. l5 w& P0 \: F
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the& n& L. Q5 e# @/ y( F6 Q
considerable slack in the economy.' g. ], \! w1 d9 z( D1 C) C

7 y9 L* W$ @8 _Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate# ^2 n! g- s9 X; n' \: [8 N. d
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the2 z2 z, p8 v/ x: `
2 per cent inflation target in an environment of significant excess supply in Canada. Any further2 a. m, X7 j$ w' P. ~! @
reduction in monetary policy stimulus would need to be carefully considered.  u* ~2 D: o3 w; R3 X, C# g& W
Information note:" t+ i' `! z7 X( R7 Y- P

/ S6 C5 }7 ~, s' W" v4 zThe 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.
理袁律师事务所
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