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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5 B: r) C% f1 O1 O5 ^! ^% l6 rThe global economic recovery is proceeding broadly in line with the Bank's projection in its
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
5 B" ?# P6 Q) {$ y7 Jsolidifying 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
7 p, d' c8 Q# n& `7 Cbe further reinforced temporarily by supply shocks arising from recent geopolitical events.
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8 K9 V1 j  {: P% ~The 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
: h" @+ k2 }4 d7 t$ H$ dsigns that household spending is moving more in line with the growth in household incomes.
2 Y$ Y# T, C0 |. \Business investment continues to expand rapidly as companies take advantage of stimulative
5 o- S4 |9 V8 h/ r9 [. j, [) J2 @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.
. E  |- a" t$ M7 [4 PHowever, 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.

3 R% [' V. D0 G3 w) o2 QWhile global inflationary pressures are rising, inflation in Canada has been consistent with the
# U9 O. b  C3 s* oBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
considerable slack in the economy.

# E1 G' f4 E4 B# ]" k$ c# D# _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
4 b6 M' g1 s6 G) P# T! R; C2 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.
Information note:
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  v0 k2 H' t0 DThe 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.