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
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
: }% E/ G  |( a0 f  W8 zsolidifying 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
5 L" m1 v  t: b! O% H' ~/ Rrecovery and are a significant source of uncertainty to the global outlook. Robust demand from
, F6 q) J9 y% `2 c' Pemerging-market economies is driving the underlying strength in commodity prices, which could
- m  x: x- q' D2 l0 Y& hbe 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
1 r. @; {0 ?" }; Wthe anticipated rebalancing of demand. While consumption growth remains strong, there are
# R- Q5 A/ v; K. {* \3 m& Esigns that household spending is moving more in line with the growth in household incomes.
) Z0 J6 J' h9 T9 e% nBusiness investment continues to expand rapidly as companies take advantage of stimulative
# S( D% J2 Y9 afinancial conditions and respond to competitive imperatives. There is early evidence of a
  Y) t5 Y0 C7 Zrecovery in net exports, supported by stronger U.S. activity and global demand for commodities.
& c0 ?# [* t1 A7 n. LHowever, the export sector continues to face considerable challenges from the cumulative effects
) H0 e" ?+ X2 q2 v! d; qof the persistent strength in the Canadian dollar and Canada's poor relative productivity
performance.
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8 `3 l) O1 `/ v" g8 HWhile global inflationary pressures are rising, inflation in Canada has been consistent with the
0 Y4 Y+ J8 m( r5 vBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
/ z( V/ M" c! u% ?9 mconsiderable slack in the economy.
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Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
$ \9 P- h; c) G3 Cat 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.
4 N$ e5 c# B7 ]9 y4 l( N. hInformation note:
7 h7 v" c. e( N) y1 z$ B. `/ a. K
) B% i+ Y  D' j) NThe 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.