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.

The global economic recovery is proceeding broadly in line with the Bank's projection in its
7 |# a+ a8 ~1 u, nJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
" l8 d* m7 d/ Nsolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
5 y* K/ k0 p5 s9 k, S6 h  \; w/ lchallenges 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
emerging-market economies is driving the underlying strength in commodity prices, which could
/ @& d, B4 n) y. D9 Q/ r% x" d* v: Q- lbe 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
. i" j3 y% h2 g6 Bthe anticipated rebalancing of demand. While consumption growth remains strong, there are
) l  j3 z  V( \3 J( \/ \8 jsigns that household spending is moving more in line with the growth in household incomes.
0 _, Q  D1 e: z% ^Business investment continues to expand rapidly as companies take advantage of stimulative
4 U9 ?7 w6 T  S9 D- ofinancial 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.
& Q' I5 p4 O, R5 }0 yHowever, the export sector continues to face considerable challenges from the cumulative effects
( S, B2 F+ s0 q" N, r( O9 f/ `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
4 i, B) F4 `! r# hBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
' `; a% A. v: B6 w* D: cconsiderable slack in the economy.
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( Q" l( Y8 Y: m$ rReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
. i, X/ R  g  M4 t; Y2 per cent inflation target in an environment of significant excess supply in Canada. Any further
6 H' W1 z' h+ u6 K( J3 U  Zreduction in monetary policy stimulus would need to be carefully considered.
0 m+ s: t! e/ v! B; v# W7 ^Information note:
/ @. S/ T! b3 `% j4 i, @& ~; h
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.