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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.' w) N5 |0 [* C: J! M
  J  \& q/ O; U! k2 ~: |
The global economic recovery is proceeding broadly in line with the Bank's projection in its9 n+ w, Q: |. }* i
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
, N( e( d3 {$ e- r3 G- d* rsolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
+ i9 A  X- B0 E9 n' lchallenges associated with sovereign and bank balance sheets will limit the pace of the European
) D  b6 S7 T3 Wrecovery and are a significant source of uncertainty to the global outlook. Robust demand from! Y" U" x1 ^! l
emerging-market economies is driving the underlying strength in commodity prices, which could
; j& a% u9 w+ v7 H# v9 {+ qbe further reinforced temporarily by supply shocks arising from recent geopolitical events.
2 D! @, {& c; L& P; L1 k9 Z  K  t  E' ?/ V$ }0 V
The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of! D2 O& h7 q7 ~) r  f2 H# ~1 i
the anticipated rebalancing of demand. While consumption growth remains strong, there are
0 ~) }$ O3 ]3 t- X" ~4 Y6 jsigns that household spending is moving more in line with the growth in household incomes.
2 N; o. [* y' ~8 {* X1 qBusiness investment continues to expand rapidly as companies take advantage of stimulative. i0 N7 p* E2 L4 f; Q/ h
financial conditions and respond to competitive imperatives. There is early evidence of a8 m) x4 c$ n" \' j8 Y
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.& j' U) P& G, ^# f
However, the export sector continues to face considerable challenges from the cumulative effects+ b/ I/ p4 h# ?; Z; y6 C2 t! ^
of the persistent strength in the Canadian dollar and Canada's poor relative productivity
3 ~0 i+ S- k! Z/ ~3 ]performance.) Z8 o; [7 X7 A, N# g6 E) P
  F8 y! @( s9 a& s: N  K
While global inflationary pressures are rising, inflation in Canada has been consistent with the2 L' |- ]! {$ m, Z$ \+ x9 i
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the9 M2 B! o" S* [" H
considerable slack in the economy." Z% F$ }- n" y1 K, r2 b& n

  c9 R/ X( C# ~Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate  R6 ^% b  C7 H3 d  l0 C
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the( i- Q1 T* J( J8 n# \: `* d! d1 d7 H+ H
2 per cent inflation target in an environment of significant excess supply in Canada. Any further4 S# Y% x5 _. h: d- k! t5 I
reduction in monetary policy stimulus would need to be carefully considered.
1 T3 @% r$ p( T, O8 B; |+ dInformation note:6 B# z  l. f0 ~( ?
$ q" q  W* Q. V- t( S- l
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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