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.

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
. O; E- ]- y1 w; ?/ ?solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
: Q1 l! q: O# \: }6 o! wchallenges associated with sovereign and bank balance sheets will limit the pace of the European
+ Q2 F/ {' L. [) U3 [4 `( r; Y; \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.
, I" B; J; L; u; M  h. m
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
* v) F/ x% a5 Qsigns that household spending is moving more in line with the growth in household incomes.
) V; F; \' y7 Z  ?% \% l3 CBusiness 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.
However, the export sector continues to face considerable challenges from the cumulative effects
% d" t) y; _  m0 o; x+ J  K& Y& dof the persistent strength in the Canadian dollar and Canada's poor relative productivity
performance.

4 a" g; z7 l' B( X7 B2 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
- F4 l3 F1 H( J8 h5 d1 I# Qconsiderable slack in the economy.

1 u- N0 {: S# |* v% ?Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
. j! v' l/ T: i8 h$ ?1 L  U6 Yat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
& \8 x+ v* m4 R2 per cent inflation target in an environment of significant excess supply in Canada. Any further
/ G9 r7 V2 K4 Y6 `4 R3 b- }reduction in monetary policy stimulus would need to be carefully considered.
4 ~0 H1 v& p0 m8 CInformation note:
% {7 y1 U' ^$ g
+ H% w+ U8 J( NThe 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.