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
% K9 b' T2 h* B- v5 H$ xJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
8 U! t4 h- S/ p0 p/ ichallenges associated with sovereign and bank balance sheets will limit the pace of the European
8 d# }: G9 R' Rrecovery and are a significant source of uncertainty to the global outlook. Robust demand from
$ V  f& ^! k7 W) ], B' M, nemerging-market economies is driving the underlying strength in commodity prices, which could
* }; n3 t- B4 E- abe further reinforced temporarily by supply shocks arising from recent geopolitical events.
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, F! R) y' I: D6 Y  |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
6 O' x% A  F! {# u6 ~signs that household spending is moving more in line with the growth in household incomes.
8 x% R7 S4 f; H+ h- xBusiness investment continues to expand rapidly as companies take advantage of stimulative
7 V  e+ q; F1 |( x; \. Hfinancial conditions and respond to competitive imperatives. There is early evidence of a
2 H/ j: z9 j$ H9 X# @0 j0 @recovery in net exports, supported by stronger U.S. activity and global demand for commodities.
# R5 S" M3 {$ o4 a0 W, LHowever, the export sector continues to face considerable challenges from the cumulative effects
4 ^7 r. M% Y% B! \& Q- B0 Fof the persistent strength in the Canadian dollar and Canada's poor relative productivity
performance.
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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
' ^: m1 C  R2 t: w$ M, yconsiderable slack in the economy.

. ?$ p: N* V' f0 h  x, K1 OReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
& I0 j9 w2 }/ C! e7 ?& Yat 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:

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.