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.
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& D% W7 u: I  K, dThe global economic recovery is proceeding broadly in line with the Bank's projection in its
! U9 b: W2 ^. w4 L6 FJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
& L, }; ]" l1 Q$ _" ]$ y. U% Z. tsolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
challenges associated with sovereign and bank balance sheets will limit the pace of the European
recovery and are a significant source of uncertainty to the global outlook. Robust demand from
* T  r6 M* p1 w' P9 D" h' jemerging-market economies is driving the underlying strength in commodity prices, which could
  Z* f3 m$ w; Q! j2 f4 Ybe further reinforced temporarily by supply shocks arising from recent geopolitical events.
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The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
the anticipated rebalancing of demand. While consumption growth remains strong, there are
4 ]  N' ^! l5 l' {& e; usigns that household spending is moving more in line with the growth in household incomes.
Business investment continues to expand rapidly as companies take advantage of stimulative
( w7 P* [6 I- v) nfinancial conditions and respond to competitive imperatives. There is early evidence of a
recovery in net exports, supported by stronger U.S. activity and global demand for commodities.
) N; h! U* w1 O% _; T/ \  THowever, 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
performance.
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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
* @9 b  Z9 L3 D! y/ Bconsiderable slack in the economy.

3 O' _  c* D! y. o$ BReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
; P) _6 o5 k% I( h4 J/ A4 kat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
& t1 J8 P! ]2 ?0 e+ ~2 \: A8 h2 `2 per cent inflation target in an environment of significant excess supply in Canada. Any further
. u$ N! I' u! j8 p* R3 R6 {reduction in monetary policy stimulus would need to be carefully considered.
Information note:
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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.