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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.
# n$ x; {  B- A( g8 \; u
1 K7 d9 X! h" f% P1 QThe global economic recovery is proceeding broadly in line with the Bank's projection in its% B' P2 n4 n6 B1 g% X7 G
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is  m2 N* K( @9 q8 k/ `) x
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
. u# b: I- I4 U; j7 P/ v. Z5 {% Ochallenges associated with sovereign and bank balance sheets will limit the pace of the European
6 B7 D9 I1 j/ y$ r4 r5 e7 l& ?recovery and are a significant source of uncertainty to the global outlook. Robust demand from
. R2 v; v* o* J, B5 U) [emerging-market economies is driving the underlying strength in commodity prices, which could
" f3 v: ]0 G! k/ `& Sbe further reinforced temporarily by supply shocks arising from recent geopolitical events.8 s  m0 q5 B. U

& T' O1 h3 i3 q' P8 N3 fThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of% a4 ?% f; q" K  }+ ^
the anticipated rebalancing of demand. While consumption growth remains strong, there are
; V7 n9 v' m( C( Q' ?0 O6 |signs that household spending is moving more in line with the growth in household incomes.$ ^2 R& a/ L! \4 S0 f" c( Q
Business investment continues to expand rapidly as companies take advantage of stimulative' ^7 P* `3 B3 f- z! X
financial conditions and respond to competitive imperatives. There is early evidence of a
; n& a. B6 I/ W, d) T7 \recovery in net exports, supported by stronger U.S. activity and global demand for commodities., d  J: i7 s% \7 j
However, the export sector continues to face considerable challenges from the cumulative effects
: U% j  l9 W/ A( n* J$ w' h( gof the persistent strength in the Canadian dollar and Canada's poor relative productivity$ ]% {7 e4 q  k7 K3 u
performance." X' R( Y) _2 r  N! }$ _
: ^- S" M" z- s0 y
While global inflationary pressures are rising, inflation in Canada has been consistent with the7 G% q; Q4 l4 u( R- B
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the# ], V- C" J3 `% H: b6 }
considerable slack in the economy.5 k# \* C. j/ I: @7 b& |4 m6 Y. @
$ B% Q0 F) ?, ^
Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
0 u: x# h  L* F6 F1 ]' q0 \( qat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
  }  I' e6 D% W2 r- K2 per cent inflation target in an environment of significant excess supply in Canada. Any further+ O% `' C( s! o0 j5 d
reduction in monetary policy stimulus would need to be carefully considered.
+ R- l: a4 d4 S( S5 I1 rInformation note:
- L9 y9 y* q5 w
3 \1 u  Q3 j  S  AThe 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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