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.
/ Y5 b7 Y% x3 \( N& z9 x% O1 H3 Q
The global economic recovery is proceeding broadly in line with the Bank's projection in its
, t" d2 A9 r( e6 zJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
9 W: W6 D9 R7 ~% i, M0 N. |/ Mchallenges 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
" p8 S  O- E8 S" f0 M8 zemerging-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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6 q4 f: f+ P0 L3 e" F/ }/ N; NThe 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
: l' {1 v! O, n1 ^& B, i% osigns that household spending is moving more in line with the growth in household incomes.
Business investment continues to expand rapidly as companies take advantage of stimulative
0 o* k* Q0 O- t5 ~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.
$ g6 E+ q4 {4 G& |3 F. yHowever, 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
  |1 U% c" f" v8 }Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
considerable slack in the economy.
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; R) G- t9 z3 `! B- e6 `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
  Y* a* b- L: F" g# u2 per cent inflation target in an environment of significant excess supply in Canada. Any further
, Y- T- }* e" m. P8 V" q8 Xreduction in monetary policy stimulus would need to be carefully considered.
0 q" f4 }! @3 S+ [4 f: uInformation note:
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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.