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.

; S* e3 T: x) ^$ p! W2 EThe global economic recovery is proceeding broadly in line with the Bank's projection in its
6 ?1 [+ b$ X& L* t" L/ fJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
- r9 ^# H; a; t  b/ T. hchallenges associated with sovereign and bank balance sheets will limit the pace of the European
# R& G; M7 S6 A" Y" Jrecovery and are a significant source of uncertainty to the global outlook. Robust demand from
$ M' {8 S8 o0 Y/ c# o! semerging-market economies is driving the underlying strength in commodity prices, which could
8 o( ^! Q5 S- ]8 I: y0 {# Bbe further reinforced temporarily by supply shocks arising from recent geopolitical events.
; g1 R  U# G& l: T0 d/ ^! z
The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
, I$ F3 N* T$ rthe anticipated rebalancing of demand. While consumption growth remains strong, there are
5 T: H7 `- C3 ?2 G0 Isigns that household spending is moving more in line with the growth in household incomes.
/ d/ z) A% w* ?' z) FBusiness investment continues to expand rapidly as companies take advantage of stimulative
) e( @! U. c5 qfinancial 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.
3 c' e- a* }: i  E& NHowever, the export sector continues to face considerable challenges from the cumulative effects
& ]4 a; `! @) g& C0 K6 S9 aof the persistent strength in the Canadian dollar and Canada's poor relative productivity
performance.

' Y" r2 [& N2 E. X7 pWhile 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.

0 L5 K, i! `6 P; g; ^! E, 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
1 M( z! N3 q2 I# E7 ~2 b* r2 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.
* b; k" V. O% ?' F. NInformation 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.