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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.
% ]# o4 Z# @! ^( U" d- Z
& Z: v, F1 p! H4 @The global economic recovery is proceeding broadly in line with the Bank's projection in its6 m: O" l3 n7 v7 |1 ?7 G" S
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
8 U, ^# I6 |: Gsolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
0 T8 \, O- Y! Q8 X: Ochallenges associated with sovereign and bank balance sheets will limit the pace of the European
9 f9 p: @5 v7 g  Q7 zrecovery and are a significant source of uncertainty to the global outlook. Robust demand from1 E& X, B+ ^) d. c( ~2 y# n) ?
emerging-market economies is driving the underlying strength in commodity prices, which could
. \. `' u; m* ?! G. m3 wbe further reinforced temporarily by supply shocks arising from recent geopolitical events.5 K" _2 x: K! _) O. U) @' P8 s
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The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
: g+ _+ K3 v, ~# Y9 cthe anticipated rebalancing of demand. While consumption growth remains strong, there are
/ Z9 L0 M6 w/ D: u  rsigns that household spending is moving more in line with the growth in household incomes.
. I% ~$ w& u/ p/ C. FBusiness investment continues to expand rapidly as companies take advantage of stimulative
5 e8 I4 l, x' ^& s" B( efinancial conditions and respond to competitive imperatives. There is early evidence of a: `, `) \2 g# d( y. m
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.1 _$ @8 ]5 k, w1 t2 {8 Y; {( A
However, the export sector continues to face considerable challenges from the cumulative effects
. A9 ]0 z" y0 ~; H% ?9 mof the persistent strength in the Canadian dollar and Canada's poor relative productivity
1 p6 D: `8 P/ Lperformance.4 I- |) i  c  {
: `1 M; t7 F! I+ D3 A6 w
While global inflationary pressures are rising, inflation in Canada has been consistent with the
4 b/ v8 P+ y& q4 OBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the; c- k$ T  B3 D/ q8 s0 j8 k
considerable slack in the economy.  t3 t6 x* Y+ @* S( w( `( ^

# h, m' ]- O+ K" n0 q. q, l5 fReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate5 v0 _0 j: X% L" D
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the: `, @/ g5 `2 {5 m+ J
2 per cent inflation target in an environment of significant excess supply in Canada. Any further' C& c$ u9 s) W6 w
reduction in monetary policy stimulus would need to be carefully considered.2 ]2 o& M+ _% H
Information note:
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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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