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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.! ~* o- E' J6 Z. O; G; j; x
+ w& H% a8 s$ Z$ f3 Y/ A8 p
The global economic recovery is proceeding broadly in line with the Bank's projection in its
, T$ w9 [& |! K9 a; m# g! X0 TJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
$ I2 L/ P" o# w" S- h; H( Osolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing4 N0 ]( J* M0 b7 |
challenges associated with sovereign and bank balance sheets will limit the pace of the European
: ~% }& E+ p$ ]9 \6 z. Frecovery and are a significant source of uncertainty to the global outlook. Robust demand from) g( ?$ X' W: ?' F, f2 p
emerging-market economies is driving the underlying strength in commodity prices, which could
7 r  o+ g& v: {* S' ~6 H6 F& ebe further reinforced temporarily by supply shocks arising from recent geopolitical events.  W& m3 x2 V" p, l- ]& f$ L9 o9 h
/ d' f" j+ [0 B: V8 K' a4 E/ R  e
The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
  x0 S/ E) \) F- Q. \5 [/ [the anticipated rebalancing of demand. While consumption growth remains strong, there are
# U  _4 O% }6 f- C' Fsigns that household spending is moving more in line with the growth in household incomes.8 }% X+ A! C- U7 {! D0 }6 h8 w
Business investment continues to expand rapidly as companies take advantage of stimulative: D" V2 E/ u& K; w& L
financial conditions and respond to competitive imperatives. There is early evidence of a8 {2 W  d# S; y: s+ ?2 P% F3 e! Y
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.) |& a( H1 j' N; `$ `  D0 @  V$ g
However, the export sector continues to face considerable challenges from the cumulative effects
$ u7 d! B. a" K( kof the persistent strength in the Canadian dollar and Canada's poor relative productivity
2 x+ b" G& f; h- i0 `performance.# A2 Q" j  K+ \6 Z5 e) H1 N
% N( O* R/ N+ O$ I  h+ x' R
While global inflationary pressures are rising, inflation in Canada has been consistent with the
( j8 M  k* C9 S6 s5 z8 lBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the  e. V( W0 {6 s9 G* d2 C
considerable slack in the economy.6 [/ {3 O. j9 L
8 s+ D; J( L7 `+ r- Q
Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate: g' J7 X% l6 @, ?0 B
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the$ C6 H: D9 h0 N; @# ^& F
2 per cent inflation target in an environment of significant excess supply in Canada. Any further
. n0 W2 r: A( [4 {/ `1 treduction in monetary policy stimulus would need to be carefully considered., w0 U  d9 j* Y; Z1 L
Information note:5 u7 X/ t% h' D1 Z/ x( w; A3 h" H
2 P, |/ Y6 E& g  k) k
The next scheduled date for announcing the overnight rate target is 12 April 2011.
大型搬家
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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