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.
4 [' O* E/ Z  g1 y/ j. r! |6 B
+ H2 C  a8 K9 h* m+ n  oThe global economic recovery is proceeding broadly in line with the Bank's projection in its
8 B4 I, i4 C; |3 h' V1 A# UJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
, k5 K/ i: H) f  ]7 P/ ksolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
9 c3 s8 h6 p! H1 p# k% K3 nchallenges associated with sovereign and bank balance sheets will limit the pace of the European
; ]' e: n) {# \, n7 U9 N' R& H+ O! srecovery and are a significant source of uncertainty to the global outlook. Robust demand from
9 d! ^. V+ Y& ?8 I0 S' `# x! C7 demerging-market economies is driving the underlying strength in commodity prices, which could
be further reinforced temporarily by supply shocks arising from recent geopolitical events.

5 O7 p. d5 m  z, qThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
; Z7 v! A$ ^# H1 Z& f0 B! Tthe anticipated rebalancing of demand. While consumption growth remains strong, there are
8 G$ |" y9 ^! z. _signs that household spending is moving more in line with the growth in household incomes.
1 ^: m' m2 f, Q" `3 D) }Business investment continues to expand rapidly as companies take advantage of stimulative
2 C3 _8 E9 x1 a: C7 M0 _financial conditions and respond to competitive imperatives. There is early evidence of a
+ K; _, y1 q4 |( Brecovery 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
" \8 H9 z) ^4 I3 k: Kof the persistent strength in the Canadian dollar and Canada's poor relative productivity
, j( F2 R+ n$ y7 R! `/ _+ q+ w' Fperformance.
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9 a( A. z7 @8 Q4 x( j% V) n7 E4 qWhile global inflationary pressures are rising, inflation in Canada has been consistent with the
% R) ^; u" }/ MBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
considerable slack in the economy.

0 V! G, u7 U% Y, z3 R! @Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
# Z; [: u( D* }7 B/ pat 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.
1 @. S5 t. x! e9 ~Information 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.