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 I# X. m* \; t, ?8 ^+ ?4 qThe global economic recovery is proceeding broadly in line with the Bank's projection in its
; a# B) [6 K8 L$ q' fJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
" @2 }( W+ n! Z5 w( i! o3 wsolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
7 O  D. x9 ~) q" ~4 C/ w, wchallenges 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
7 o8 f$ P5 B5 V9 {5 C: l: ?; ibe 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
. n/ J8 {6 R8 P# h# sthe 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.
9 k- f' r4 K' t/ q. o9 r: K/ |3 D8 YBusiness investment continues to expand rapidly as companies take advantage of stimulative
1 ^$ c, ~. F% N7 C- L* o3 y* E0 Lfinancial conditions and respond to competitive imperatives. There is early evidence of a
, C' d7 T( N+ Brecovery in net exports, supported by stronger U.S. activity and global demand for commodities.
However, the export sector continues to face considerable challenges from the cumulative effects
/ z2 S$ L1 S. D# O7 y0 O0 Lof the persistent strength in the Canadian dollar and Canada's poor relative productivity
5 b# ]( T5 f8 t! _performance.

( Z; N0 z2 O' Q9 hWhile global inflationary pressures are rising, inflation in Canada has been consistent with the
1 _  D4 c" Y* [0 w4 b. f: MBank'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
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
* L- i0 y% X( g: I2 ~# ereduction in monetary policy stimulus would need to be carefully considered.
Information note:

% u4 E6 W* i! _; \: y; {/ F' Y: RThe 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.