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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The global economic recovery is proceeding broadly in line with the Bank's projection in its
7 o% o: A; v4 e3 j, ~; k, G+ T* EJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
2 `1 g, B9 O( X: Ychallenges associated with sovereign and bank balance sheets will limit the pace of the European
0 q0 A/ |* `% i) C" k+ @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.

( F1 r) I5 l( o3 q4 [9 f# }; HThe 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
5 p/ ]& a! f7 G1 j9 ?0 \# M! Z2 ?% Tsigns that household spending is moving more in line with the growth in household incomes.
" B8 }- S" z- eBusiness 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
* O6 k& [; C/ ?  L- c3 v7 rof the persistent strength in the Canadian dollar and Canada's poor relative productivity
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. V1 R4 i' z" }5 Q' p. JWhile global inflationary pressures are rising, inflation in Canada has been consistent with the
4 y! R& ]9 e, |Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
considerable slack in the economy.
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4 |4 \1 J& x' ~! k6 }8 _Reflecting 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
* P, d2 W% E) X4 v, U. {/ d) `2 L2 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.
Information note:
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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.