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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.
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The global economic recovery is proceeding broadly in line with the Bank's projection in its. k- D: d+ l3 R/ `0 Y' @
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is7 B$ C$ w( Z  R; X+ y
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
  d3 N3 P3 l% \challenges associated with sovereign and bank balance sheets will limit the pace of the European
2 N9 v. y3 S1 {recovery and are a significant source of uncertainty to the global outlook. Robust demand from
* G2 D  j* D% `. Y  v9 W+ lemerging-market economies is driving the underlying strength in commodity prices, which could
+ \# T# F5 z0 \be further reinforced temporarily by supply shocks arising from recent geopolitical events." ^4 g2 f* Q7 g1 f* z/ k+ p
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The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of5 Q0 e8 k2 s8 d: w
the anticipated rebalancing of demand. While consumption growth remains strong, there are6 j" {& ~5 e2 u2 m8 F7 U9 u
signs that household spending is moving more in line with the growth in household incomes.; W) Q3 ]& ~4 F2 L; x, o6 r, j
Business investment continues to expand rapidly as companies take advantage of stimulative
8 c1 J/ q$ U( G& `! J% Y- G8 T! Yfinancial conditions and respond to competitive imperatives. There is early evidence of a7 p' h8 _6 q' Z4 F
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.
; Z0 L2 Q5 U+ _/ ZHowever, the export sector continues to face considerable challenges from the cumulative effects
0 m! Q0 m7 K, {/ sof the persistent strength in the Canadian dollar and Canada's poor relative productivity
. }* E; z: g9 q" x8 P3 {% ~4 Vperformance.
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While global inflationary pressures are rising, inflation in Canada has been consistent with the$ N; @* ]7 q& b4 `
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the4 ]& i) q% h1 Y5 M8 n; w
considerable slack in the economy.
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  q8 X/ g. d  ^; q$ g' N! mReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate6 W% X1 {/ Q$ i/ c5 _* M  O' B
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
" d' m, o9 N( ~: @1 P. M2 per cent inflation target in an environment of significant excess supply in Canada. Any further& F( M, ~7 W* k1 ~2 n* V% y
reduction in monetary policy stimulus would need to be carefully considered.4 L4 c/ ~4 `- K' |* g' z6 `8 S0 v
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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