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 G8 J9 o: w/ [$ L1 MThe global economic recovery is proceeding broadly in line with the Bank's projection in its
9 G2 X) l. ^$ [! qJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
5 f! k) T, n  ?3 a) r" Xsolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
% j/ |) p: ?! W$ @challenges associated with sovereign and bank balance sheets will limit the pace of the European
3 G8 }& Q! w  A) _" Arecovery 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.
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) R/ v( u# I7 i0 EThe 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
* N" e! q9 k, o7 r' `" P) n/ W8 |4 y& Tsigns that household spending is moving more in line with the growth in household incomes.
  M9 p# K0 v" B' L% ^) |( gBusiness investment continues to expand rapidly as companies take advantage of stimulative
. }1 D3 z# b5 I: y- A6 X" Gfinancial conditions and respond to competitive imperatives. There is early evidence of a
- R% R4 H, @& m  U+ E" A- [recovery in net exports, supported by stronger U.S. activity and global demand for commodities.
  \1 Q" R$ Q) R  ~. ^# R9 s! u5 kHowever, the export sector continues to face considerable challenges from the cumulative effects
; F; Z+ B% a. Q: lof the persistent strength in the Canadian dollar and Canada's poor relative productivity
0 v( k" w6 B2 |$ u# {% p" t) ]$ [+ L# U! e, ]performance.
! ?; c' y# `* g* O% P- v0 j$ _4 ?$ I3 ~' k
While 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.
/ r) F5 _" k/ B. s
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
reduction in monetary policy stimulus would need to be carefully considered.
Information note:
* b$ E+ A* u& @1 U  Q
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.