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
4 R. m5 W4 S: ]9 J. i0 Z. j* |solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
' {# ^- G. R  p- Rchallenges 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
  h0 X; T5 P: d4 D' Q6 `$ Nbe further reinforced temporarily by supply shocks arising from recent geopolitical events.

7 n+ m6 g0 Z5 MThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
7 U, Q: N; z& h8 c5 Athe 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.
3 E# _2 s, e! f/ n- h% |! PBusiness investment continues to expand rapidly as companies take advantage of stimulative
7 h: A2 ]' ~/ y4 d( kfinancial 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.
* J. p) E6 B2 ]However, 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
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While global inflationary pressures are rising, inflation in Canada has been consistent with the
& Q" \# L$ c# ^4 B* n3 R6 g& zBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
considerable slack in the economy.

7 d# p7 `' H& l3 P. ^6 @0 M" cReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
$ [* A8 L5 P+ T/ I4 \: Fat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
- _7 p7 u! U* Y  S% U, @) j2 per cent inflation target in an environment of significant excess supply in Canada. Any further
+ ?# e/ n, D, H& e! D6 V$ freduction in monetary policy stimulus would need to be carefully considered.
Information note:

: i# N5 r' X6 J% E9 s" jThe 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.