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.

6 f1 u3 B7 p" ]' @" W# J3 S9 r! TThe global economic recovery is proceeding broadly in line with the Bank's projection in its
3 ^& A4 F. ]' y0 P0 `' R* L# YJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
* V8 \) T3 x; S8 @2 j. |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 D  o; u: b4 y) ^: Z: w% t* ]- O3 |be further reinforced temporarily by supply shocks arising from recent geopolitical events.
' m# z7 z5 Z  c1 x& R
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
% P! `6 c! {( bsigns that household spending is moving more in line with the growth in household incomes.
. A3 r, n' R) [5 d* VBusiness investment continues to expand rapidly as companies take advantage of stimulative
5 R+ y5 v" G& Y# O- Q/ jfinancial 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.
However, the export sector continues to face considerable challenges from the cumulative effects
' x. l/ a9 H+ l0 G; @& Y- ?of the persistent strength in the Canadian dollar and Canada's poor relative productivity
2 U, E, g6 y: I! T9 _performance.

While global inflationary pressures are rising, inflation in Canada has been consistent with the
; i- d  g; r9 Q  `1 ^; _Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
4 r, y( \# M" Q# [1 Q: zconsiderable slack in the economy.
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# I: [3 _  b9 sReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
  N% t4 z$ b4 q8 j+ Tat 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.
3 ^! f0 P) Q+ G$ u, y0 j# SInformation note:

" |! s7 J7 }; _9 k3 K0 fThe 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.