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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.
) M# Z: z7 o0 G# a- ?
) E; u: v: X) V$ OThe global economic recovery is proceeding broadly in line with the Bank's projection in its  q, ?. b1 i+ M6 ^+ p+ N) v
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is. i) _& o) S2 Y  z- T
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing0 S) S( H2 x; a4 I' h
challenges associated with sovereign and bank balance sheets will limit the pace of the European
# |9 H+ b% s1 [& @9 ]recovery and are a significant source of uncertainty to the global outlook. Robust demand from
' Q7 ^5 K& _( [( X; B( cemerging-market economies is driving the underlying strength in commodity prices, which could
- ?* d7 b, X) lbe further reinforced temporarily by supply shocks arising from recent geopolitical events.
' O4 |4 c' i5 g& V. i: K' y. A) k" @. V; i
The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of" ?2 S1 a+ W% h/ P
the anticipated rebalancing of demand. While consumption growth remains strong, there are) N" d4 f0 [0 t7 g6 E: [; _
signs that household spending is moving more in line with the growth in household incomes.
5 T. U4 B0 g8 j, UBusiness investment continues to expand rapidly as companies take advantage of stimulative
1 l: d% T& Y5 S4 L3 ?2 Efinancial conditions and respond to competitive imperatives. There is early evidence of a" N9 ~, R9 A6 e# J* E, @
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.  S; O" M" a* t8 r3 G4 Q: M0 ]
However, the export sector continues to face considerable challenges from the cumulative effects& R' O: H2 ^6 w1 B% l. t' G6 L
of the persistent strength in the Canadian dollar and Canada's poor relative productivity
, i  A' F+ r% E9 iperformance.: J! t# T5 d; }% k: h$ L
& S$ N4 Y3 U( q" K8 X1 f; u* L) l
While global inflationary pressures are rising, inflation in Canada has been consistent with the
, S$ h: q- C" B/ tBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
$ u1 r  o/ d# K3 y: O+ w. Y; Rconsiderable slack in the economy.' ?$ w" D* c: ^1 g, O
6 D2 }2 H- L* _" s1 }: A, Q
Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
, _; [9 @5 [7 B+ d' P0 ]! Yat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
) L- @5 x+ o& N& o4 i+ o2 per cent inflation target in an environment of significant excess supply in Canada. Any further
2 l2 B- d% M  ~% Wreduction in monetary policy stimulus would need to be carefully considered.
  |& M' s' ]$ H. S( x" ~$ bInformation note:  d. S( K' q( p" I5 s- I

; c6 G/ m" h7 S8 z" x7 GThe 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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