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.

; O  |) ]+ u3 r8 t) X; rThe global economic recovery is proceeding broadly in line with the Bank's projection in its
1 x+ `2 o2 X! U  {5 J; IJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
. X2 K7 |' t6 G: nchallenges 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
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.
& J8 k% r4 h+ v, b
# m: V8 }1 M: H1 m: K4 i& O! ]& KThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
/ Q& N" o5 V" _  w( }% r3 Sthe anticipated rebalancing of demand. While consumption growth remains strong, there are
signs that household spending is moving more in line with the growth in household incomes.
% k- z$ o% j5 a, x3 `6 s$ ZBusiness investment continues to expand rapidly as companies take advantage of stimulative
8 u! g4 B2 J' `: X8 O  \9 [8 W9 zfinancial conditions and respond to competitive imperatives. There is early evidence of a
) [; T- E  v  l/ P: K0 t! u! Nrecovery in net exports, supported by stronger U.S. activity and global demand for commodities.
0 f$ g$ r6 u3 K6 z0 m# ]However, the export sector continues to face considerable challenges from the cumulative effects
. i# X2 d! e3 h9 aof the persistent strength in the Canadian dollar and Canada's poor relative productivity
performance.

( t3 V* B% {4 n$ ZWhile global inflationary pressures are rising, inflation in Canada has been consistent with the
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
+ K& k- H( ~4 [6 p! @considerable slack in the economy.

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
# ?+ o# \) `  W/ P+ \; e$ V5 a$ F2 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.
( f) ~' y& r) ^# p1 j1 g. _Information note:

5 j7 O& U+ Z& D' Z5 w) D) g/ 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.