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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.6 H& I& t. [9 m# z- c- o( \; p
9 @; }% h' \3 p4 d) o% T0 T  L
The global economic recovery is proceeding broadly in line with the Bank's projection in its' S6 q; ?  K1 L. F, O7 R* \: j
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is# n/ L" d  M) S' ]! ~, s2 ^5 o
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
2 S, v0 O1 K$ B) [. @3 Cchallenges associated with sovereign and bank balance sheets will limit the pace of the European
8 U3 X0 R6 U/ Irecovery and are a significant source of uncertainty to the global outlook. Robust demand from& M' H2 h0 w* Q( B! v3 O
emerging-market economies is driving the underlying strength in commodity prices, which could# `- X  ?% A7 Y/ V6 p
be further reinforced temporarily by supply shocks arising from recent geopolitical events.$ }$ D5 S; b- ]- A; i: E
3 W. O8 D0 R- \* g8 ^2 G3 P
The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
5 ~: u# Z; Q: l. G4 vthe anticipated rebalancing of demand. While consumption growth remains strong, there are
$ {: N. c' q$ E) c0 H' g/ B4 usigns that household spending is moving more in line with the growth in household incomes.
4 `- _& a. |; [" x- Z5 QBusiness investment continues to expand rapidly as companies take advantage of stimulative% J% d  C, p. {# f* w7 e' P
financial conditions and respond to competitive imperatives. There is early evidence of a
! H- C! Y- t9 m) d) v" _& wrecovery in net exports, supported by stronger U.S. activity and global demand for commodities.
9 u; m3 {; u. x# K! [However, the export sector continues to face considerable challenges from the cumulative effects
& A. i2 t* j& q& p& L8 F6 Lof the persistent strength in the Canadian dollar and Canada's poor relative productivity2 h- O1 h2 u5 D8 d9 M1 P/ M$ W
performance.* a' a/ b' w, b5 m, d! w6 Y/ h
. u9 \% d5 B/ g4 N: G/ ?- N
While global inflationary pressures are rising, inflation in Canada has been consistent with the
0 ^+ f( H; _( T* i; Z" lBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the! k7 k, r* b+ ~( O3 x- E
considerable slack in the economy.; S6 W6 d" e+ m9 e
1 B7 l$ x1 ]6 m& I1 n) N) j
Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
& L1 t6 M: Q: X! R; s1 Wat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the8 H. s1 `2 c$ H
2 per cent inflation target in an environment of significant excess supply in Canada. Any further, y$ R1 @! f6 T1 `9 `
reduction in monetary policy stimulus would need to be carefully considered.1 \6 Y4 ~- X( j  e
Information note:+ E1 z2 T3 g! q7 p' ]% J( B
2 A: c5 F. I3 v9 t; X( x
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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