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.

The 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
% b6 P  w7 B. Y( Lsolidifying 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
recovery and are a significant source of uncertainty to the global outlook. Robust demand from
  }  W& B$ C4 T4 w7 temerging-market economies is driving the underlying strength in commodity prices, which could
) s' W- n/ {) G. }, zbe further reinforced temporarily by supply shocks arising from recent geopolitical events.
7 O  L- s: U2 u, }
The 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
, Y) n+ m& x$ t7 _+ h7 zsigns that household spending is moving more in line with the growth in household incomes.
+ C7 a0 u3 ]% e: p2 \Business investment continues to expand rapidly as companies take advantage of stimulative
$ w3 u5 Y( y& E6 M* N/ Q  m# mfinancial conditions and respond to competitive imperatives. There is early evidence of a
$ |, [: c1 ]6 Y8 x' trecovery in net exports, supported by stronger U.S. activity and global demand for commodities.
& b  A& j3 }5 p% ~; z0 q/ nHowever, the export sector continues to face considerable challenges from the cumulative effects
6 F% {; k* Q: C: Mof the persistent strength in the Canadian dollar and Canada's poor relative productivity
performance.
9 x2 g! A$ I5 `/ \; N
  a& j5 m9 D- [4 j+ y7 yWhile global inflationary pressures are rising, inflation in Canada has been consistent with the
2 h) O& |1 T: I1 `' {3 X8 ]Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
considerable slack in the economy.
% y6 g/ R/ ~! b3 K. v
) s. D. j! F' Q3 _' B+ I3 b% z# Q: sReflecting 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
" [& X& @4 ?$ V& B; Z  y/ ^2 per cent inflation target in an environment of significant excess supply in Canada. Any further
: ?8 N! w1 C5 }' Greduction in monetary policy stimulus would need to be carefully considered.
Information note:
2 d4 g+ o" _: \' ~
: ]1 u# M1 e! n- DThe 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.