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 s! w& a$ x8 q+ s
9 I9 t  c: a. }8 |* t1 v+ ]+ pThe global economic recovery is proceeding broadly in line with the Bank's projection in its
  D* l; T+ k' u& w! H! Y/ p9 cJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
" k0 {& e% V$ l2 n4 `! `' N- V3 fsolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
7 z! n. X1 A! `( d+ B5 w- \& G9 xchallenges associated with sovereign and bank balance sheets will limit the pace of the European
1 P( n2 I: G2 Frecovery 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
8 E9 \* h. I0 J1 ^) u) ~be further reinforced temporarily by supply shocks arising from recent geopolitical events.
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The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
6 @  ~# I3 A2 [. c3 hthe anticipated rebalancing of demand. While consumption growth remains strong, there are
: x5 ~6 H- T7 f. y; D1 j: Tsigns that household spending is moving more in line with the growth in household incomes.
$ I4 [+ c; K5 w! [& QBusiness investment continues to expand rapidly as companies take advantage of stimulative
7 S2 f( \* p4 K% X5 `( u( T/ E( ffinancial conditions and respond to competitive imperatives. There is early evidence of a
. @: E% N; p% i$ v! k/ Krecovery 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
- U+ W* D0 M% v; U# L, [7 R9 Aof the persistent strength in the Canadian dollar and Canada's poor relative productivity
performance.

While global inflationary pressures are rising, inflation in Canada has been consistent with the
5 C4 Z9 e) a7 g4 QBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
* ]& W; l) W6 }2 r; T# N4 \% X/ vconsiderable slack in the economy.

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
! e! ~! i+ e- f- a2 |/ O2 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:

' k5 u8 b! S& h* d9 cThe 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.