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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.) f" b! c  X- v  p0 W

4 ~& T' d) V: N+ jThe global economic recovery is proceeding broadly in line with the Bank's projection in its0 a5 b8 E" t9 D8 {+ r
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is0 [2 o3 I4 `+ H9 w
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing- O; r) _. G/ f% t$ ?" q
challenges associated with sovereign and bank balance sheets will limit the pace of the European
; x4 V5 L% c  h" d6 |6 ]" }6 arecovery and are a significant source of uncertainty to the global outlook. Robust demand from/ f; |$ d* a9 {7 F6 ^3 g! O
emerging-market economies is driving the underlying strength in commodity prices, which could4 d; W6 f8 }" e$ p+ l
be further reinforced temporarily by supply shocks arising from recent geopolitical events.
3 W; Y& i; z+ Q
% I1 }! S- t4 T# x. s: v, c7 y! vThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of) m! r4 \+ w) s) K/ U
the anticipated rebalancing of demand. While consumption growth remains strong, there are/ b9 `  ~) ^9 w* W! [
signs that household spending is moving more in line with the growth in household incomes.
& F1 b& e. m! G7 k) ZBusiness investment continues to expand rapidly as companies take advantage of stimulative
, \1 x$ |# r2 h! vfinancial conditions and respond to competitive imperatives. There is early evidence of a: Y- \. a3 T. H2 u$ l0 Z' r
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.
1 x: G, A! o5 f: X! K+ HHowever, the export sector continues to face considerable challenges from the cumulative effects' S0 D7 s; p  \' p
of the persistent strength in the Canadian dollar and Canada's poor relative productivity& v! J6 {* _- a5 m3 z
performance.7 D/ D* F( g4 P6 P3 w) x. G& l: v

1 I  I# `% R  E- k2 p2 PWhile global inflationary pressures are rising, inflation in Canada has been consistent with the+ g* d' D! @! h: E5 y) D
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
. l8 j* F0 _* \# }) h- z/ Qconsiderable slack in the economy.4 I9 [) V- ?* b% b6 a" Q; p

; X5 X# [* k+ }, @" [0 f- iReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
8 S. d" l( ]/ u. Pat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
# J4 _: x, W* L/ K5 c; c8 `8 ^2 per cent inflation target in an environment of significant excess supply in Canada. Any further
4 Q1 a) t1 f: h6 u: L3 Lreduction in monetary policy stimulus would need to be carefully considered.
7 ~; n& h$ U$ h4 l6 FInformation note:
: `8 {1 O* R; `1 |: r9 o9 _; T4 B1 b1 C
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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