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
5 z/ \; j! H& e9 v: j# v, r( _January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
0 |% ?0 D+ Q% U" [solidifying 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
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.
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The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
4 @7 J, h& `2 f9 V/ kthe anticipated rebalancing of demand. While consumption growth remains strong, there are
signs that household spending is moving more in line with the growth in household incomes.
# I" V% W( W! R0 ABusiness investment continues to expand rapidly as companies take advantage of stimulative
financial conditions and respond to competitive imperatives. There is early evidence of a
# R. u3 h% t5 S  xrecovery 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
( m4 f1 y5 C3 ?5 l7 }* k, _/ b# T( ?of the persistent strength in the Canadian dollar and Canada's poor relative productivity
" ?) z" ~7 B. _4 |7 L* \performance.

% b5 k2 |  m# Y2 X. n( W+ CWhile global inflationary pressures are rising, inflation in Canada has been consistent with the
9 V! [8 k' q6 z- }( E, sBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
1 A* Q; ?; ^/ f' @2 [& h* Rconsiderable slack in the economy.
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7 a" J1 A/ C0 y* A/ c9 OReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
' r: @# h/ E0 ]! U9 \9 Jat 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
reduction in monetary policy stimulus would need to be carefully considered.
% l. W- ]6 |4 ^Information note:
6 W5 e$ C4 o" R0 Q0 {
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.