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
; W1 ^& z7 w: }, f$ jJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
( ?, p8 B8 W( L, U% bsolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
" [* e: n' p) [0 H9 v: W% V3 Jchallenges associated with sovereign and bank balance sheets will limit the pace of the European
1 S* J% ~+ W5 precovery 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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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
0 p; y7 @3 b, E5 P/ {* _+ `' Wsigns that household spending is moving more in line with the growth in household incomes.
& t" H$ A) `6 v4 C5 Z: V8 S3 xBusiness 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.
7 U! X8 p! T2 {6 w; `+ ]. Z% IHowever, the export sector continues to face considerable challenges from the cumulative effects
of 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
6 b0 H* s4 Y3 v" Dconsiderable slack in the economy.
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) P+ u. z5 U! e. A) X# |, r! [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.
4 B3 f5 L% i" R6 E' NInformation note:

2 A# a- J! `# k/ UThe 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.