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
& `) C+ B4 T3 v. RJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
# w3 j# h# q/ Y# Bsolidifying 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
3 W' x; h8 _) A8 s8 j; W4 b, C& Wrecovery 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
8 y, ~% j+ X( ?2 @# c4 n, ibe further reinforced temporarily by supply shocks arising from recent geopolitical events.

! ^* Q2 I# \) Z6 }: A. pThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
the anticipated rebalancing of demand. While consumption growth remains strong, there are
8 }8 ^/ c# T8 W! W! R) jsigns that household spending is moving more in line with the growth in household incomes.
! K) G5 U/ P2 i2 T7 o- ]& S9 ABusiness investment continues to expand rapidly as companies take advantage of stimulative
financial 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.
However, the export sector continues to face considerable challenges from the cumulative effects
5 m) P( }& d7 t. B6 ~/ J: B( G% lof the persistent strength in the Canadian dollar and Canada's poor relative productivity
: [/ Z3 [4 U' C- V# operformance.

; o/ s( i* c# p& [+ d1 kWhile global inflationary pressures are rising, inflation in Canada has been consistent with the
4 M# L) ]' ^; h( K/ {0 eBank'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
' A, V. O. m( r, {at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
0 K" f3 L( w- w; o2 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.
/ w2 r; x, o3 A7 zInformation 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.