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.

0 |- `1 d, p5 F4 Q+ [5 RThe 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
$ n4 M3 a$ o; j9 z% d+ `solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
8 Z1 p/ K. @. i2 ^, 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
" k& A1 D# ^: N  Q8 T, p8 |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.
8 ?7 @( f3 h7 p2 d
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
' R- }1 _; f- l; y, n* Y& Asigns that household spending is moving more in line with the growth in household incomes.
# w: o. e% ?. [6 p2 i2 P) nBusiness investment continues to expand rapidly as companies take advantage of stimulative
) ^: y8 c$ a5 d6 _9 Yfinancial conditions and respond to competitive imperatives. There is early evidence of a
* Q; N% H; U3 ~; I2 ]5 a4 ~4 v  Hrecovery 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
4 u9 _. @; u# ?  m5 j0 e: Eof the persistent strength in the Canadian dollar and Canada's poor relative productivity
+ o' Q' X0 f0 z1 ~" z. y+ `& |# p3 xperformance.
- S) z3 l4 z' h0 V
8 v; Q: z+ D" z% A, B! hWhile global inflationary pressures are rising, inflation in Canada has been consistent with the
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
considerable slack in the economy.

$ m. ^% O+ U, w; KReflecting 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
2 U- O" E8 J8 e9 X& breduction in monetary policy stimulus would need to be carefully considered.
$ V* F" z5 F- ]+ I  iInformation 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.