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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.1 }/ I3 o. `" ^/ Z" {. H! F

" W3 ^0 y4 V+ o5 V' I/ M) JThe global economic recovery is proceeding broadly in line with the Bank's projection in its, s* g8 `: _3 S: _( F* J, R% y8 g
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is, u' l6 n! v, ^7 H$ _
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
0 C% t  w/ n% W: |% dchallenges associated with sovereign and bank balance sheets will limit the pace of the European
" I# |! W9 @8 e  e" Zrecovery and are a significant source of uncertainty to the global outlook. Robust demand from
+ z; \) |8 i. gemerging-market economies is driving the underlying strength in commodity prices, which could
, U' N6 B/ J+ z" tbe further reinforced temporarily by supply shocks arising from recent geopolitical events.. R+ N8 p' U# w1 x# N0 E- \

) P  z" r7 X8 J- ?+ gThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
* b0 B: o6 c; I4 x( [the anticipated rebalancing of demand. While consumption growth remains strong, there are( ~" Y; t. ~, _$ s6 \  [
signs that household spending is moving more in line with the growth in household incomes.
& I7 B* V5 Y/ K: `5 c/ ~9 cBusiness investment continues to expand rapidly as companies take advantage of stimulative
1 h, s1 B) E! W, F5 l: ?2 Vfinancial conditions and respond to competitive imperatives. There is early evidence of a0 y7 R: Y! Q5 a3 e
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.
5 t/ u! B* ?/ g" v, |However, the export sector continues to face considerable challenges from the cumulative effects
" X5 c* a. I' s2 [& Z# h* X3 A0 W$ Nof the persistent strength in the Canadian dollar and Canada's poor relative productivity; O- w3 E, T/ W" C! V8 O4 ^$ \
performance.
  P0 q! f, A# T, T* C7 k" t* ~5 ?; L9 p/ A" F  x% ~' f9 T
While global inflationary pressures are rising, inflation in Canada has been consistent with the
& O( N+ o' |2 n2 D9 `7 @Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
8 s, C5 b; l1 T( qconsiderable slack in the economy.
- c7 u* W# [+ f! j1 ~
( @6 W% Y+ C1 E9 Z7 Z7 VReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
* Z( k$ j- g1 Z% o" O% ]at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
( V/ X( S( j* A2 per cent inflation target in an environment of significant excess supply in Canada. Any further
+ N8 N! Z4 v- @8 I3 k: n) {reduction in monetary policy stimulus would need to be carefully considered.
' P! K1 l, n8 r% q$ O- R3 aInformation note:
7 W1 H2 w5 K5 e% e( R) _2 @7 @! v- e7 k% C/ r! j& i* @
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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