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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.! ^* g. t5 b$ z# |

0 Y/ _7 F+ Z+ Q. C: zThe global economic recovery is proceeding broadly in line with the Bank's projection in its
, y2 C& @1 w/ ~1 J- P8 R9 E( `January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is+ |; _+ }( g: U- c# j
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing7 O, v5 e% k9 f9 c2 s) w
challenges associated with sovereign and bank balance sheets will limit the pace of the European! J1 Y8 D/ l* ^& N
recovery and are a significant source of uncertainty to the global outlook. Robust demand from
# g7 l. Z. ]. S1 _3 K  k- f) eemerging-market economies is driving the underlying strength in commodity prices, which could
1 M& u0 ~! u9 n/ [  M! S) ~/ Rbe further reinforced temporarily by supply shocks arising from recent geopolitical events.% ^; s9 T( y6 @6 q! d* l) F
4 j6 i# X" E( \0 T$ {! G+ {9 o
The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
5 R: X5 N, K% @0 V* b& |8 Fthe anticipated rebalancing of demand. While consumption growth remains strong, there are
7 P9 D0 J+ E  V5 f! usigns that household spending is moving more in line with the growth in household incomes.
2 T! W4 g" f  A+ n2 vBusiness investment continues to expand rapidly as companies take advantage of stimulative
9 d# e% K, S$ U- cfinancial conditions and respond to competitive imperatives. There is early evidence of a* T% Z3 `8 z' W9 ^
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.' j% D  @- V% A
However, the export sector continues to face considerable challenges from the cumulative effects" K$ m( a* W& V* g' ?7 B
of the persistent strength in the Canadian dollar and Canada's poor relative productivity
$ B/ E, @9 W* W' uperformance.
' B6 c0 x. m+ [: N4 X: ~+ E9 b: ^0 x3 p& H  {6 ^' ^9 D/ S0 [
While global inflationary pressures are rising, inflation in Canada has been consistent with the
& T' h( u2 [- T+ M; o5 |* j1 t( `Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
5 r; n* n  }% I% Zconsiderable slack in the economy.
' v* _% C9 G. C. P1 k2 ~
# d0 ^# M" I- R. JReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
2 f. Q5 x: j7 Q* a" M% k( rat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
8 r0 X7 V  t/ T# }2 per cent inflation target in an environment of significant excess supply in Canada. Any further
, U) h/ Y* j9 ^2 @. ireduction in monetary policy stimulus would need to be carefully considered.
' b$ W+ L9 @3 `% j% qInformation note:
4 H2 \; Y, \( h$ N' ^0 z7 a" D2 q2 Z) L! S7 ?
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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