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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.
  j. s- n2 z# ?  K0 w4 F# J3 p& I! M8 t
The global economic recovery is proceeding broadly in line with the Bank's projection in its
1 d5 }; \( p# w; V  L& I9 NJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is- V( h. ^( k# K# l! j
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing$ \- p$ Z# D! W8 ^
challenges associated with sovereign and bank balance sheets will limit the pace of the European9 L, b0 g7 q/ z4 ?
recovery and are a significant source of uncertainty to the global outlook. Robust demand from
) Y: z9 M) g6 q+ ]6 l/ _emerging-market economies is driving the underlying strength in commodity prices, which could+ }1 \& p. T" g+ I% d
be further reinforced temporarily by supply shocks arising from recent geopolitical events.
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9 {  Q) _2 S% O5 y% s( g* XThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
* m! X5 R' x5 t) O; t; t$ uthe anticipated rebalancing of demand. While consumption growth remains strong, there are; a/ p' Z2 Y# T
signs that household spending is moving more in line with the growth in household incomes.
0 u) }4 j- O4 L& h8 m( yBusiness investment continues to expand rapidly as companies take advantage of stimulative
, k+ @. u* Y% Qfinancial conditions and respond to competitive imperatives. There is early evidence of a$ x* s' I' ~% T" q* z. [
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.
6 K$ p- H" G& T* o# t# z1 R/ U. mHowever, the export sector continues to face considerable challenges from the cumulative effects8 G4 c( |  k% U! n8 s
of the persistent strength in the Canadian dollar and Canada's poor relative productivity
6 \7 u3 N/ t" I. jperformance.7 O) s  b9 F3 J9 g# |

/ C- ?, ^# b* `& P3 i4 @. wWhile global inflationary pressures are rising, inflation in Canada has been consistent with the
% L( s, N& e1 o/ T6 ]Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the5 T  l, n2 b* o
considerable slack in the economy.
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; ?/ d+ a/ q% o1 s5 T. FReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate+ `' Z6 r  U& g$ c9 G4 X7 q
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
1 }4 K7 x! {: w, Z- |- H2 per cent inflation target in an environment of significant excess supply in Canada. Any further" i% [' \2 C/ O7 G- b8 w
reduction in monetary policy stimulus would need to be carefully considered.
# Z* H- x: s  x4 WInformation note:0 @- a$ p& n* F0 c6 [! u

$ t4 N2 ~/ A4 M, oThe 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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