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.
9 k$ q' s" S5 P- e, q- S6 a0 w
The global economic recovery is proceeding broadly in line with the Bank's projection in its
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
- Q+ R8 m6 k/ S' U8 i( y8 Hsolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
- U0 G+ {. B. b" v/ W1 f& Vchallenges 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
' A: x& C9 {4 S1 c5 nemerging-market economies is driving the underlying strength in commodity prices, which could
0 g; c6 Z. x- `2 nbe 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
$ r- g" R, K" u3 |6 h2 q' \1 Dthe anticipated rebalancing of demand. While consumption growth remains strong, there are
9 k: _; @0 x& j7 E# {3 Msigns that household spending is moving more in line with the growth in household incomes.
Business investment continues to expand rapidly as companies take advantage of stimulative
5 R0 h2 p# O5 ]" d( C6 K4 k8 I3 A7 L9 `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$ b- @( @; m0 w$ RHowever, the export sector continues to face considerable challenges from the cumulative effects
1 D; d$ w) k  c: H) Vof the persistent strength in the Canadian dollar and Canada's poor relative productivity
4 v1 U9 Y$ u" ?' s( R) F7 kperformance.

( R* Y) C- o) `/ I+ _5 Q- TWhile global inflationary pressures are rising, inflation in Canada has been consistent with the
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
3 C& h8 u9 w8 S- d8 vconsiderable slack in the economy.

/ M# P/ n) i: @/ U) }  RReflecting 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
/ g2 u; r2 \3 w2 q& Q5 `/ A' |reduction in monetary policy stimulus would need to be carefully considered.
, n- q* K2 M1 m1 q- I; W" ~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.