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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.* Q% {% t0 Q3 X
5 k5 x( ?  D4 S; Q: I# `- Y
The global economic recovery is proceeding broadly in line with the Bank's projection in its
3 n& h+ g1 `$ E8 |2 \# Y6 QJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is, m0 c1 {$ G# X
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing0 k' L, t+ t- r/ v
challenges associated with sovereign and bank balance sheets will limit the pace of the European. Y5 C3 H. u. D1 m& R& s% E
recovery and are a significant source of uncertainty to the global outlook. Robust demand from
3 [  W2 u* t" G/ L6 Z6 j, Memerging-market economies is driving the underlying strength in commodity prices, which could
2 B% U) C" u/ o3 W) B2 g$ H% ^1 Ube further reinforced temporarily by supply shocks arising from recent geopolitical events.
0 T4 F4 \: ~$ M' e
( e; Z- r0 U& D0 Z9 a4 N* i& eThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of" u. b! \, u4 R5 B5 R
the anticipated rebalancing of demand. While consumption growth remains strong, there are. V& A: F2 a+ L# _0 N6 L- f
signs that household spending is moving more in line with the growth in household incomes.
! c% y% S! P* \0 y3 T3 ]+ m, jBusiness investment continues to expand rapidly as companies take advantage of stimulative! K0 ?" M& b0 M8 M" B
financial conditions and respond to competitive imperatives. There is early evidence of a
: I' S" r4 S3 F' {recovery in net exports, supported by stronger U.S. activity and global demand for commodities.
$ n- T3 ^$ U/ Q+ `; _0 oHowever, the export sector continues to face considerable challenges from the cumulative effects  f& w5 |" ^4 J! ~7 U( S  P( q; j( B: K
of the persistent strength in the Canadian dollar and Canada's poor relative productivity
' F! b4 Z( e2 \! {9 j+ c% U+ N- ]performance.8 F! Q$ T. g0 A
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While global inflationary pressures are rising, inflation in Canada has been consistent with the
) W- A, t! k) TBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
. a2 P7 m* a& ^considerable slack in the economy.
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" S2 I0 {; u, y" x# C/ [7 X- BReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate! y! t$ n6 q/ j- q
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
8 ^" q- v" K+ o% u- V" P2 U2 per cent inflation target in an environment of significant excess supply in Canada. Any further+ [8 u3 J0 H' e# G/ [% Q
reduction in monetary policy stimulus would need to be carefully considered.
+ |3 L% Q6 @+ r) e8 qInformation note:- Q  @* _' W4 ^: P; \

9 a4 w4 q# y3 S$ @% l6 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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