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.

5 I. R2 R! }# h8 h0 d  S% {% `The global economic recovery is proceeding broadly in line with the Bank's projection in its
$ _6 L3 d+ G) L: e! Y" h* i) kJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
* P! b. O) Q% n" Osolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
# C2 s( R: J& o1 v1 p# Xchallenges associated with sovereign and bank balance sheets will limit the pace of the European
% E8 B4 m3 q3 A5 F9 Yrecovery 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
0 ~2 N# N; C: pbe further reinforced temporarily by supply shocks arising from recent geopolitical events.
0 ~' `0 V# h7 t! g+ v( {; b
The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
- p9 i4 w& T  z$ u& Pthe 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.
. N- Z+ ]7 e# _- i/ ~4 I( ~8 G& ^  s7 hBusiness investment continues to expand rapidly as companies take advantage of stimulative
financial 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.
( n' v. \8 k# |% r5 ^7 C* U$ hHowever, 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
performance.

! Z5 }/ i6 B! |$ S4 _8 ~While global inflationary pressures are rising, inflation in Canada has been consistent with the
5 l# S/ E" L6 SBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
% B% Q0 @0 [+ u5 [considerable slack in the economy.
/ C" o. H, J) a
, q* G/ B6 K% }, E/ A( a$ GReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
& S) p2 S2 C3 {3 L1 fat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
, D5 s  `1 t) q/ b6 r! H- i, s/ Y9 u2 per cent inflation target in an environment of significant excess supply in Canada. Any further
( g2 i3 W4 D" z; Qreduction in monetary policy stimulus would need to be carefully considered.
) D: q* ?9 c; O' wInformation note:
: W  m& k' B7 s4 K0 ]
The 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.