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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.
2 W9 n0 T  v" U# i! i! X$ {8 I% C+ L- G  ~" ^6 f1 I# N
The global economic recovery is proceeding broadly in line with the Bank's projection in its3 {: C# I5 U' j/ x! h
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is  Q1 Z8 p6 o) A
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
# R* O6 L0 ^- T8 n# D% O( wchallenges associated with sovereign and bank balance sheets will limit the pace of the European
0 \' B6 B& M! H. X, f7 N9 irecovery and are a significant source of uncertainty to the global outlook. Robust demand from
0 W! F1 H" U  |- ~, O! [; K8 s6 A2 Pemerging-market economies is driving the underlying strength in commodity prices, which could. J" D" a2 o% ~0 Y: _  X9 g# n5 i1 U5 f
be further reinforced temporarily by supply shocks arising from recent geopolitical events., u: t- y$ W  p6 d
+ J* V  @  `4 ?6 x) m  C
The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
# ~! z4 Q& Q7 ^6 ]the anticipated rebalancing of demand. While consumption growth remains strong, there are
# X6 q) h6 q( b& Jsigns that household spending is moving more in line with the growth in household incomes.
( [9 @+ H1 x- A4 }; x; LBusiness investment continues to expand rapidly as companies take advantage of stimulative
6 T4 I$ p, O0 O! i8 kfinancial conditions and respond to competitive imperatives. There is early evidence of a0 @! V6 `/ G$ {' [( N0 c
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.
: L9 J( D0 f$ ]* o0 Y( P0 CHowever, the export sector continues to face considerable challenges from the cumulative effects& r7 w# B' b: s
of the persistent strength in the Canadian dollar and Canada's poor relative productivity/ ^$ r7 h& Y1 N3 I0 M1 A% Q
performance.0 _) D- W! i0 T$ L  K
$ I* N9 d2 T% L- u
While global inflationary pressures are rising, inflation in Canada has been consistent with the
* @0 u& C. U9 Q9 U) q7 h  n; xBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
5 S4 p2 l8 h7 y1 mconsiderable slack in the economy.
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" L2 B; c4 W% R1 Y$ KReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate* C4 }1 _+ ]$ A# q, m  N
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
5 p$ D  y8 i3 U2 q2 per cent inflation target in an environment of significant excess supply in Canada. Any further
+ i' m  d7 |* q0 t: Breduction in monetary policy stimulus would need to be carefully considered.
9 w0 x* q5 \0 R5 t8 I9 qInformation note:1 @2 x- n2 B6 E9 r' k+ k

7 _+ O/ X- O6 B8 A, S8 u! sThe 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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