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.
! |% \7 n$ x& W4 F
/ J. `6 h* i3 AThe 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
/ H8 t/ S3 i$ N% [, @: tsolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
challenges associated with sovereign and bank balance sheets will limit the pace of the European
- m) K4 l' A9 vrecovery and are a significant source of uncertainty to the global outlook. Robust demand from
7 O, O5 {9 Q# gemerging-market economies is driving the underlying strength in commodity prices, which could
" y$ ]5 Z3 `4 m' m# b! P2 mbe further reinforced temporarily by supply shocks arising from recent geopolitical events.

2 e- F* X9 z7 j$ m8 IThe 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
/ R3 p( T# V1 M9 Z! C0 E% Ssigns that household spending is moving more in line with the growth in household incomes.
) r: |* y5 \. e. W, EBusiness investment continues to expand rapidly as companies take advantage of stimulative
' ^- u; O" V/ `8 t7 z6 Xfinancial 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
) N* d% l% `# l% t( U, b5 r: sof the persistent strength in the Canadian dollar and Canada's poor relative productivity
  H% @7 O! L, m# jperformance.

While global inflationary pressures are rising, inflation in Canada has been consistent with the
* K3 C) s5 n0 B6 B- V7 _# uBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
considerable slack in the economy.
' M" t( ?+ F! `- c  O7 a& J
# m2 y' v5 w' K4 G6 z1 b& iReflecting 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
" f0 \% F9 o# k% W1 N2 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.
8 k( s# k# i& _9 [Information note:
- r( m9 b; x9 l, W/ g) Z1 a
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.