MARCH 1st, 2011 -BANK OF CANADA- NO CHANGE FOR THE OVERNIGHT RATE(ZT)

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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.
) y9 Q0 F; l/ x$ J5 ~
/ s4 ?2 Q) y8 {) }0 T/ n6 lThe global economic recovery is proceeding broadly in line with the Bank's projection in its
7 {( X- m! ?( U; H, oJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
( j9 i% u! H1 }+ zchallenges associated with sovereign and bank balance sheets will limit the pace of the European
  C+ _2 Z! I. N% h* vrecovery and are a significant source of uncertainty to the global outlook. Robust demand from
2 j( H- [' b- E+ M/ ^% P5 Gemerging-market economies is driving the underlying strength in commodity prices, which could
% e- m- E* W+ n0 Z2 F, Pbe further reinforced temporarily by supply shocks arising from recent geopolitical events.

The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
. L8 T2 ~; ?6 |- ^! A3 J- h0 nthe anticipated rebalancing of demand. While consumption growth remains strong, there are
signs that household spending is moving more in line with the growth in household incomes.
# N2 M+ e) b9 x) R9 A: o# vBusiness investment continues to expand rapidly as companies take advantage of stimulative
financial conditions and respond to competitive imperatives. There is early evidence of a
6 q6 f  r) u3 a( U# ]recovery in net exports, supported by stronger U.S. activity and global demand for commodities.
; p* e  k$ x3 G+ y* {+ bHowever, the export sector continues to face considerable challenges from the cumulative effects
of the persistent strength in the Canadian dollar and Canada's poor relative productivity
: Z; T" o& w7 W* Rperformance.

While global inflationary pressures are rising, inflation in Canada has been consistent with the
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
considerable slack in the economy.
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Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
+ n1 k( I! E: W0 x' @at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
2 per cent inflation target in an environment of significant excess supply in Canada. Any further
- e. O' R" V9 Areduction in monetary policy stimulus would need to be carefully considered.
/ K3 T" e0 b' i4 i/ g( {' yInformation note:

The next scheduled date for announcing the overnight rate target is 12 April 2011.

小黄

It won't be changed for a long time.

web123

but banks will raise mortgage rate, for sure.