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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The global economic recovery is proceeding broadly in line with the Bank's projection in its
" x, d: i  |0 X: m+ _; M  x5 v! ]January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
6 x( J4 O6 P9 l9 d- e- Hchallenges associated with sovereign and bank balance sheets will limit the pace of the European
8 i# I3 ~2 _( {* y6 b3 f) X; Srecovery and are a significant source of uncertainty to the global outlook. Robust demand from
3 Q% |' u' ~" b) z1 ~+ {! j, Hemerging-market economies is driving the underlying strength in commodity prices, which could
7 B2 y! l' V  F) I- y  Xbe further reinforced temporarily by supply shocks arising from recent geopolitical events.

The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
. |6 E/ q: n7 c8 c* P+ e  Cthe anticipated rebalancing of demand. While consumption growth remains strong, there are
6 E7 V+ d3 l# H5 x. isigns that household spending is moving more in line with the growth in household incomes.
+ |0 T6 ?6 t: M( {Business 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.
8 y4 f" Z4 ?/ YHowever, the export sector continues to face considerable challenges from the cumulative effects
" x9 [/ l0 D7 sof the persistent strength in the Canadian dollar and Canada's poor relative productivity
performance.

+ F+ a( W& f) E& _; F* o" ]7 F$ bWhile global inflationary pressures are rising, inflation in Canada has been consistent with the
5 c7 A: b# B5 P: ?8 L  oBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
* D+ t( k9 E$ t0 N7 Fconsiderable 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
2 per cent inflation target in an environment of significant excess supply in Canada. Any further
/ m: R. I: V! K; p; y# Oreduction in monetary policy stimulus would need to be carefully considered.
+ u3 o) }6 Y9 P4 J/ L+ ZInformation 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.