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
! C" T4 Y3 j& ^: U! r( l1 pJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
9 p& Q* s- C4 T; Dchallenges associated with sovereign and bank balance sheets will limit the pace of the European
9 S; R6 ~/ v6 R/ F- Vrecovery and are a significant source of uncertainty to the global outlook. Robust demand from
& h* T, C" Y* a% v9 J1 C% z& j. pemerging-market economies is driving the underlying strength in commodity prices, which could
+ ?' v, k) m8 k! |. T4 A+ w' {be further reinforced temporarily by supply shocks arising from recent geopolitical events.

5 g  g4 R: m7 \7 G8 l' X( o- TThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
+ ?5 @7 P4 e0 T: I5 P2 m* c( Dthe anticipated rebalancing of demand. While consumption growth remains strong, there are
7 f1 t, ^) q8 @7 H- [# tsigns that household spending is moving more in line with the growth in household incomes.
, I1 F6 x7 P% E" f- U# YBusiness investment continues to expand rapidly as companies take advantage of stimulative
' }  `+ d! _: m2 y4 ?: z' l4 ~( Hfinancial conditions and respond to competitive imperatives. There is early evidence of a
' ]" f. u+ |1 ~/ [8 |) l+ Nrecovery in net exports, supported by stronger U.S. activity and global demand for commodities.
, G, N) m6 N$ RHowever, the export sector continues to face considerable challenges from the cumulative effects
of the persistent strength in the Canadian dollar and Canada's poor relative productivity
) m1 [* B2 ]5 ^: J: t/ b$ `* uperformance.

/ \# l  }- N  e% S9 z3 IWhile global inflationary pressures are rising, inflation in Canada has been consistent with the
. d/ u9 c# z) i2 `Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
considerable slack in the economy.
5 e% b# h2 E5 h
Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
4 k' o* j# f5 S; Hat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
2 ^, ^# M/ \/ h' j& G2 per cent inflation target in an environment of significant excess supply in Canada. Any further
  }# B  _! a# a' {- ]reduction in monetary policy stimulus would need to be carefully considered.
Information note:
$ w& s; k6 k3 O0 W1 D1 P
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.