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.

' W' O0 \4 Y2 U9 c, K) X7 KThe 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
& J4 _; b4 [- Z: R# J2 Z1 ssolidifying 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
' R& S- q6 o! |( `2 p: _" x1 o' arecovery 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
6 }" c$ _" @/ V. y$ w$ C. Mbe further reinforced temporarily by supply shocks arising from recent geopolitical events.

; N" q* u& Y% R' ?8 M# F7 RThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
: Z9 x; M, m. T: Q- othe anticipated rebalancing of demand. While consumption growth remains strong, there are
2 W% ~! Y. m& o& e0 l& |signs that household spending is moving more in line with the growth in household incomes.
1 e/ X4 V/ s( SBusiness investment continues to expand rapidly as companies take advantage of stimulative
% `" N* N9 L8 R. T" L7 zfinancial conditions and respond to competitive imperatives. There is early evidence of a
6 S# }8 r: ~9 l9 _6 drecovery 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 G$ I# ^1 W0 K3 @of 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 a# `# I3 P; K; {8 ^, ~Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
, v: H% p( z3 N6 F6 y( j+ ?( D6 Z' rconsiderable slack in the economy.
  N$ E- d6 j: s/ T9 c* l0 T$ G- Z
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
reduction in monetary policy stimulus would need to be carefully considered.
Information note:

5 z5 t0 ?; k9 Q9 iThe 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.