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.

9 \. C: ~+ m% XThe global economic recovery is proceeding broadly in line with the Bank's projection in its
  t9 o$ \0 M, R# X/ r5 dJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
# M# [$ Z. v8 A3 b3 R8 v  Isolidifying 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
4 N3 a8 b1 D- }& C8 j$ x* xrecovery 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
6 m+ h/ }) u9 o/ C: |be further reinforced temporarily by supply shocks arising from recent geopolitical events.

The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
6 p4 o5 |6 J* }0 Y$ N" O- athe anticipated rebalancing of demand. While consumption growth remains strong, there are
+ B/ S3 [9 X& S0 R# P  @signs that household spending is moving more in line with the growth in household incomes.
$ y" K- A+ l  UBusiness investment continues to expand rapidly as companies take advantage of stimulative
6 K" Y2 }0 I1 tfinancial 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
. v0 M0 J4 \" a% z, fof the persistent strength in the Canadian dollar and Canada's poor relative productivity
" x4 B- v0 X" Q, Operformance.

+ ]3 C. d& c/ H5 E, O2 @While global inflationary pressures are rising, inflation in Canada has been consistent with the
% m+ S& D+ V- l* M6 _( _! BBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
: `$ j4 B% r7 m* v3 }considerable slack in the economy.

& X" W' N- R& q7 _: ~3 H* H8 s  @Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
; s0 a% w) q, U0 ?at 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.
0 B% W( s9 m$ B8 AInformation note:
. e' u8 d5 q1 O1 N: [( i
. S6 `+ \6 W9 w5 w  `  J+ k( S7 ^" f9 fThe 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.