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
! d$ _  w5 K: c& E4 g+ eJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
9 ]8 p# ^) E  A# ]$ nsolidifying 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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4 D) o+ [( z5 }1 e: eThe 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
7 }1 X' P6 q8 d( psigns that household spending is moving more in line with the growth in household incomes.
, A2 C/ @8 Q" I$ [Business investment continues to expand rapidly as companies take advantage of stimulative
financial conditions and respond to competitive imperatives. There is early evidence of a
! U0 n9 A7 F( e4 \& t, Precovery in net exports, supported by stronger U.S. activity and global demand for commodities.
/ d9 ^1 j( b; b/ pHowever, the export sector continues to face considerable challenges from the cumulative effects
& ?& z) e% |1 N2 fof the persistent strength in the Canadian dollar and Canada's poor relative productivity
performance.

; k9 t, R% _5 J2 n' `7 KWhile global inflationary pressures are rising, inflation in Canada has been consistent with the
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
considerable 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
7 V. @9 ^( l& y, yat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
, g  I9 X7 b0 F4 l2 per cent inflation target in an environment of significant excess supply in Canada. Any further
  h" G  Y7 X* F1 oreduction in monetary policy stimulus would need to be carefully considered.
8 v; Q* F5 j) YInformation note:

/ O$ t3 Y% t9 s" x2 q6 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.