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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.
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The global economic recovery is proceeding broadly in line with the Bank's projection in its6 T' I' D3 w9 V" l, O, A( B
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is' `+ i  W% i8 b" _7 D' I* O
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing7 {$ c7 k8 ]4 |7 s9 Y8 F/ {5 w
challenges associated with sovereign and bank balance sheets will limit the pace of the European% X1 B; s% l$ W4 ~
recovery and are a significant source of uncertainty to the global outlook. Robust demand from
# \9 x5 q' ^9 l* K* {( e! A+ bemerging-market economies is driving the underlying strength in commodity prices, which could4 h3 F' l- a7 Q' E' {  ^
be further reinforced temporarily by supply shocks arising from recent geopolitical events.8 x$ H2 l$ |' H+ A) b8 U
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The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
: Y# b+ K. h) Z: d& B$ q0 Wthe anticipated rebalancing of demand. While consumption growth remains strong, there are" D2 n, q: L- K6 f, q1 w7 Z
signs that household spending is moving more in line with the growth in household incomes.
! S5 J' V5 M5 OBusiness investment continues to expand rapidly as companies take advantage of stimulative) N9 `6 I$ P' J! h0 C, C
financial conditions and respond to competitive imperatives. There is early evidence of a) J& D- Y% O9 `  r
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.& ]9 y' }  Z0 g# S
However, the export sector continues to face considerable challenges from the cumulative effects1 b) d, J, A$ v/ G/ {! u; d
of the persistent strength in the Canadian dollar and Canada's poor relative productivity# q$ ?0 ]' y& W' U' Z& K
performance.
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While global inflationary pressures are rising, inflation in Canada has been consistent with the3 K3 F8 `  [! g8 Y8 P' j
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the% j5 U& C: r$ ?) A
considerable slack in the economy.9 G7 `5 Q/ N6 l: X6 K% ]
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Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate1 Z9 S8 g3 ?! u+ V
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the# ], k! S( a3 j
2 per cent inflation target in an environment of significant excess supply in Canada. Any further4 g9 O/ h5 F+ H, i
reduction in monetary policy stimulus would need to be carefully considered.
9 b/ S. S% K' ^5 O% |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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