Arab Today, arab today bank of canada keeps key rate at 10
Last Updated : GMT 10:36:23
Arab Today, arab today
Arab Today, arab today

Bank of Canada keeps key rate at 1.0%

Arab Today, arab today

Arab Today, arab today Bank of Canada keeps key rate at 1.0%

Ottawa - AFP

The Bank of Canada on Tuesday maintained its key lending rate at 1.0 percent, shrugging off the recent inflation data showing prices rising at the fastest pace in eight years. The move was widely expected by analysts, who see the central bank as remaining cautious in view of uncertainties in the economic recoveries in Europe and the United States. The bank\'s target for the overnight rate, which is used as the base for many other types of loans, has been at 1.0 percent since September 2010, after three quarter-point increases from the low of 0.25 percent at the height of the economic crisis. The central bank said the Canadian economic expansion \"is proceeding largely as projected, although the expected rotation of demand is somewhat slower than had been anticipated.\" It said household spending remains \"solid\" and business investment \"robust\" but that exports are weak due to problems in Canada\'s big trading partners, and that as a result its monetary policy would remain \"very stimulative.\" A big part of the caution by the Canadian central bank stemmed from the problems in other major economies. \"The US economy has grown at a slower pace than expected and continues to be restrained by the consolidation of household balance sheets and slow growth in employment,\" the Bank of Canada statement said. \"While growth in core Europe has been stronger than expected, necessary fiscal austerity measures in a number of countries will restrain growth over the projection horizon.\" Additionally, the statement said the Japanese economy \"has begun to recover from the disasters that struck in March, although the level of economic activity in that country will remain below previous expectations.\" The central bank said it expects growth in Canada \"to re-accelerate in the second half of 2011\" and noted its projection for a 2.8 percent expansion for all of 2011, and that if this occurs rates may rise. \"To the extent that the expansion continues and the current material excess supply in the economy is gradually absorbed, some of the considerable monetary policy stimulus currently in place will be withdrawn, consistent with achieving the 2.0 percent inflation target. Such reduction would need to be carefully considered,\" the statement said. It said consumer inflation \"is expected to remain above 3.0 percent in the near term, largely reflecting temporary factors such as significantly higher food and energy prices,\" but is likely to return to the target range by mid-2012. The central bank said its projection \"assumes that authorities are able to contain the ongoing European sovereign debt crisis, although there are clear risks around this outcome.\"

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bank of canada keeps key rate at 10 Arab Today, arab today bank of canada keeps key rate at 10

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bank of canada keeps key rate at 10 Arab Today, arab today bank of canada keeps key rate at 10

 



Arab Today, arab today Designer prepared new set of ornaments

GMT 02:45 2017 Wednesday ,28 June

Designer prepared new set of ornaments
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today
Arab Today, arab today

GMT 08:23 2017 Saturday ,24 June

Actress Feryal Yussef received new drama offers

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday