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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.
6 T  A' h, V7 M0 E/ d! l( h* w4 w9 b! t7 T9 I% y, t" @6 }( I# i" |# e
The global economic recovery is proceeding broadly in line with the Bank's projection in its2 t" N2 v# h) S+ n
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
# d  D  y: {; {$ ^4 [solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
2 O' H9 z' P: j1 r) u" \5 u3 achallenges associated with sovereign and bank balance sheets will limit the pace of the European2 Y3 |: [  f( C6 U2 @
recovery and are a significant source of uncertainty to the global outlook. Robust demand from7 h9 Z6 I0 i  E) n" X+ Y
emerging-market economies is driving the underlying strength in commodity prices, which could
/ T$ ?% d' ~3 V+ \( A8 R- A9 u& Ibe further reinforced temporarily by supply shocks arising from recent geopolitical events./ F4 P- \$ J' m$ g# ?
+ c1 C) k# N/ N" `3 l$ G! A& Q, y
The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
& @( X" b8 z: {. v& j; Lthe anticipated rebalancing of demand. While consumption growth remains strong, there are
1 I7 n; v0 h# i+ B& K( ^1 Asigns that household spending is moving more in line with the growth in household incomes.9 _" j* Y* B/ l7 m$ ~- C
Business investment continues to expand rapidly as companies take advantage of stimulative" ?; w1 R# h4 \% A4 X
financial conditions and respond to competitive imperatives. There is early evidence of a1 m0 E, r2 y# X/ H6 W* v. z
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.& v8 j/ h( H  W" T3 h
However, the export sector continues to face considerable challenges from the cumulative effects8 n7 p4 B; a. C% ]% C8 d  `
of the persistent strength in the Canadian dollar and Canada's poor relative productivity
: k' _5 W% V8 M( B- P) H( V8 Mperformance.) I7 m. |- H% q5 P9 P+ ]. z# u
# i; }& l9 S: u$ [! |
While global inflationary pressures are rising, inflation in Canada has been consistent with the
6 Q- W8 Q: U) ~/ r- D1 I/ oBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
8 O' X1 D/ r5 D/ Y6 M1 @" U% ~considerable slack in the economy.
( l0 k! x: n; s0 {) L
4 ]3 e( z7 \$ u& s: f) s1 fReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
* S8 l7 [$ ]. `) W8 C3 Z1 gat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
3 |: e% l3 J* Z  N" _2 per cent inflation target in an environment of significant excess supply in Canada. Any further/ \* C: j3 J) _- `) X+ |7 [
reduction in monetary policy stimulus would need to be carefully considered.* m% _9 B; c9 m' T
Information note:" |5 n  F" @, M- A% C$ Z

8 c' Y( {5 P7 s2 hThe 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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