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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.8 q7 ~3 z$ v9 Z, u% x
  T7 ~1 P5 K3 d5 u
The global economic recovery is proceeding broadly in line with the Bank's projection in its
( U/ W! Y* A1 @- A; pJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
7 b% \! |3 k1 Q7 c% E; j; e. x5 E5 Ssolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing0 C/ C( r9 y, s
challenges associated with sovereign and bank balance sheets will limit the pace of the European
  Y5 R: |# [* C( s: h3 l. [( H- v# Brecovery and are a significant source of uncertainty to the global outlook. Robust demand from
/ E! h. Y, p; h+ |% nemerging-market economies is driving the underlying strength in commodity prices, which could1 w/ J, p+ g* p
be further reinforced temporarily by supply shocks arising from recent geopolitical events.( b( C! S; v  o

6 J; W1 x0 s; C% a9 o/ j3 \7 u: cThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
$ I2 Y( o( t0 A" z; othe anticipated rebalancing of demand. While consumption growth remains strong, there are
  ?+ g( A) P! e6 Y# E/ Q1 Msigns that household spending is moving more in line with the growth in household incomes.8 @6 ?4 P5 a, F: @& M7 r
Business investment continues to expand rapidly as companies take advantage of stimulative2 _8 O/ [7 a+ C: T8 H2 {5 t! h
financial conditions and respond to competitive imperatives. There is early evidence of a
' [9 ]" Z* m5 k( x  a! M5 trecovery in net exports, supported by stronger U.S. activity and global demand for commodities.' H8 Q) O2 N* @% Z$ V& B( u, Z
However, the export sector continues to face considerable challenges from the cumulative effects
2 L( t$ n  l: C; ^of the persistent strength in the Canadian dollar and Canada's poor relative productivity
% e3 g* D6 s/ W6 P9 Kperformance., F; ]* @$ z4 w/ |0 ^1 P! d
9 U6 R+ g7 z% h1 q6 n9 x# _
While global inflationary pressures are rising, inflation in Canada has been consistent with the7 @9 S$ W* G& @! o3 L8 U5 z* t0 \8 A
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
2 g4 p2 g9 a" M, f/ L/ [5 b- Pconsiderable slack in the economy.# I) a  N- d8 L" {& D

- e/ ~+ V, m$ U# ^Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
" y7 ]$ h# ^- C/ fat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
7 q6 j- j9 l& F2 R; W5 j: ]& `% I4 c% X7 [2 per cent inflation target in an environment of significant excess supply in Canada. Any further$ k7 F8 g- n" U0 ^$ [& k, s+ G
reduction in monetary policy stimulus would need to be carefully considered.
9 a: ]5 G, r% B7 j7 ?. YInformation note:, i0 D0 ~, s* s# k+ u: s; c7 I

' A6 ^$ K7 k' P( PThe next scheduled date for announcing the overnight rate target is 12 April 2011.
大型搬家
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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