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.

9 {8 }, s& \9 V: ~4 EThe 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
' K8 V2 s/ m# g+ Dsolidifying 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
. Q2 A( C0 l# Frecovery 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
# K1 q  I! T: f7 F9 b$ M) ^7 ybe further reinforced temporarily by supply shocks arising from recent geopolitical events.
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) D4 ~2 i) ]0 q6 h$ x$ B4 d& A$ qThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
  K# }- T" o$ N. Zthe 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.
1 X8 l5 {& A5 [- E" n/ oBusiness investment continues to expand rapidly as companies take advantage of stimulative
* G0 @% A- z* {2 H+ nfinancial 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.
0 B- h  E- n0 z! q9 M1 f" k0 XHowever, 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
$ A4 h0 |8 }" G/ L; {5 Tperformance.

+ S* n* I( \$ U0 C$ E9 z& o& MWhile global inflationary pressures are rising, inflation in Canada has been consistent with the
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
considerable slack in the economy.
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1 d/ r3 H6 P2 L6 o3 \2 j: m* O8 EReflecting 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
reduction in monetary policy stimulus would need to be carefully considered.
1 [' N# S8 v: Q/ f! m0 OInformation 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.