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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/ z) n) T# b" }The global economic recovery is proceeding broadly in line with the Bank's projection in its
2 T' j, M1 S; C; D; @- CJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
) s+ c/ j* b5 X  Vsolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
$ I* G" R: ]9 q& m$ b3 `challenges associated with sovereign and bank balance sheets will limit the pace of the European
$ y4 L0 g1 P  ], q; [+ G& Z% K0 crecovery 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
& G- c" h% o+ b3 |9 [0 v; H1 N' Rbe further reinforced temporarily by supply shocks arising from recent geopolitical events.
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/ a( |4 p6 R% Z# i+ [8 t- n6 y' P5 bThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
5 C7 i1 ?; D" r; s- y8 n6 A  othe anticipated rebalancing of demand. While consumption growth remains strong, there are
2 M7 F* b4 R' k* ?signs 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
. R  U: b" @# c$ Jfinancial 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.
6 V" a/ }" b$ C4 zHowever, the export sector continues to face considerable challenges from the cumulative effects
' J! T5 o! m$ C) Zof the persistent strength in the Canadian dollar and Canada's poor relative productivity
# A! [5 D- l. d  s1 [performance.
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" ?6 n+ N/ y1 J7 |2 B, \While global inflationary pressures are rising, inflation in Canada has been consistent with the
1 o5 H# A% `8 X2 @/ TBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
considerable slack in the economy.
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, i9 ]+ M% b3 i* l8 O4 oReflecting 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 `, ]6 @3 n8 M, C; O2 per cent inflation target in an environment of significant excess supply in Canada. Any further
* O# T: m) ?' {. u( @# M( H$ treduction in monetary policy stimulus would need to be carefully considered.
. A  u, W" ~5 Z, ~* HInformation note:
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, q- W& n$ w' ZThe 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.