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.

) _1 Z8 r/ c& K# WThe global economic recovery is proceeding broadly in line with the Bank's projection in its
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
- g% R/ n2 [/ h* ?/ Q, Q" `5 gsolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
7 x; f% d" l  p+ W( j8 }! o* ichallenges associated with sovereign and bank balance sheets will limit the pace of the European
7 F9 F1 l8 t+ z+ d6 U1 o: Grecovery and are a significant source of uncertainty to the global outlook. Robust demand from
! d: }/ v9 }- yemerging-market economies is driving the underlying strength in commodity prices, which could
/ g5 |; y/ `0 ]9 s4 v- ^+ D' R4 p* ]# kbe 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
  O* u  \+ X- B1 T& g8 Wsigns that household spending is moving more in line with the growth in household incomes.
6 v* D" z0 w3 @5 S. JBusiness investment continues to expand rapidly as companies take advantage of stimulative
financial 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.
/ X' Z, ?3 O2 f8 t: f$ s6 `However, 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.
5 y" i! [3 }1 c9 B8 G
  p% W, S& f) w7 d; cWhile global inflationary pressures are rising, inflation in Canada has been consistent with the
( R! Q# C2 V/ j) fBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
considerable slack in the economy.

! n& j( t/ d! D' R1 C) \& |Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
+ o2 I- H+ |$ T- J, |& X8 H+ [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
, b1 s4 @1 s  r1 r; L* ?" c2 F+ i9 Mreduction in monetary policy stimulus would need to be carefully considered.
) m( \: i7 U9 r; R/ x) sInformation 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.