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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The global economic recovery is proceeding broadly in line with the Bank's projection in its
* N2 J* X; ]. J2 j/ {! NJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
# i) \/ P. F7 `! o! Cchallenges 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
be further reinforced temporarily by supply shocks arising from recent geopolitical events.

' e9 ]2 D3 _. P  ^2 A+ F" FThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
1 G/ [# b- N( i; Gthe 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.
0 a) L( P! u, E# }Business investment continues to expand rapidly as companies take advantage of stimulative
financial conditions and respond to competitive imperatives. There is early evidence of a
3 H4 s4 l  }+ G  E/ e0 R& u5 ^/ Rrecovery 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
$ \6 r' u1 q* u; O/ [  uof the persistent strength in the Canadian dollar and Canada's poor relative productivity
# ^2 H3 s& Z5 S) G$ U9 Zperformance.
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& f; j2 N+ ?. t1 S. m$ D2 D% jWhile global inflationary pressures are rising, inflation in Canada has been consistent with the
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
! ?1 H6 Q2 D! X) X- \- gconsiderable slack in the economy.

Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
$ `/ I% K. O; ~; Wat 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
reduction in monetary policy stimulus would need to be carefully considered.
- i6 x5 x" g1 IInformation note:

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.