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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6 l2 k4 A4 e* g5 {The global economic recovery is proceeding broadly in line with the Bank's projection in its
/ H+ E3 I5 ]6 H9 BJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
: Q% }: @+ p- |6 [challenges associated with sovereign and bank balance sheets will limit the pace of the European
0 T" r0 \9 P6 @2 hrecovery 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
1 X/ }8 B  o0 u/ o  ?+ M2 |be further reinforced temporarily by supply shocks arising from recent geopolitical events.

: z4 X- W0 O- ~, F  c) I1 VThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
) `! @& I' u% z! \1 I3 p. Pthe anticipated rebalancing of demand. While consumption growth remains strong, there are
2 m# X7 c1 B. `7 Z9 A4 Asigns that household spending is moving more in line with the growth in household incomes.
; x; M7 m* ~/ b( uBusiness investment continues to expand rapidly as companies take advantage of stimulative
7 h5 U7 C  O5 u) `8 i& Pfinancial 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
) d! G& U3 X2 n, p  ]9 v# P8 ~  Mof the persistent strength in the Canadian dollar and Canada's poor relative productivity
9 Y" q' w1 o/ r3 E, mperformance.
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# S9 t6 I. i) |  W, l6 jWhile global inflationary pressures are rising, inflation in Canada has been consistent with the
# @) y. T8 S% d7 B2 _9 ^; oBank'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
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
; L( y& n/ {% D- S5 ]% Dreduction in monetary policy stimulus would need to be carefully considered.
, A) t" A. N; U+ tInformation note:
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! B: c/ ?+ L3 ^% I6 b5 j, |  RThe 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.