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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# t$ j! K/ R$ yThe global economic recovery is proceeding broadly in line with the Bank's projection in its
; |7 z! T# i$ z2 l7 e# @7 ?) \January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
0 t9 O. c5 |7 D1 [2 R) q7 v5 Xsolidifying 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
# m3 T# }/ v( B8 x! Rrecovery and are a significant source of uncertainty to the global outlook. Robust demand from
8 T7 i- z2 k2 ?+ T* E) |$ zemerging-market economies is driving the underlying strength in commodity prices, which could
: ^) M5 u- {7 t1 H3 h+ b# X* Tbe further reinforced temporarily by supply shocks arising from recent geopolitical events.
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* p: ^5 E9 u& `* ~: h" n1 Z- A2 vThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
, Z1 k$ u1 V- e8 mthe 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.
7 r# d/ ~5 P! [  _8 x  MBusiness investment continues to expand rapidly as companies take advantage of stimulative
financial conditions and respond to competitive imperatives. There is early evidence of a
& U) Z: S! r3 L  erecovery in net exports, supported by stronger U.S. activity and global demand for commodities.
5 K0 l" X0 \  i, m& o9 kHowever, the export sector continues to face considerable challenges from the cumulative effects
% r8 u9 \3 p2 fof the persistent strength in the Canadian dollar and Canada's poor relative productivity
6 L) m6 `) k' o5 ]8 Dperformance.
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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
) K; Y; n8 o# Sconsiderable slack in the economy.

9 v: b- U1 v+ i8 }. G" c5 DReflecting 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
9 `) j. p2 i! B% ?  j2 per cent inflation target in an environment of significant excess supply in Canada. Any further
7 U! W* A" u6 B" a6 Ureduction in monetary policy stimulus would need to be carefully considered.
Information note:

! V/ i" X# [9 w. M; o: FThe 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.