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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( _" r$ z5 R9 s, g8 DThe global economic recovery is proceeding broadly in line with the Bank's projection in its
& D1 X+ i; }' ]; P0 F4 X# Q1 gJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
% W: U0 v6 _$ T5 {* Ychallenges associated with sovereign and bank balance sheets will limit the pace of the European
( c8 R- X- w8 p8 Rrecovery 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
3 g) `% D9 H3 K% `/ l/ |( lbe 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
5 v4 k1 a  m8 Z; H5 d! ]the anticipated rebalancing of demand. While consumption growth remains strong, there are
3 ~" [% z$ Z- W) a* r1 Q" G+ bsigns that household spending is moving more in line with the growth in household incomes.
Business investment continues to expand rapidly as companies take advantage of stimulative
3 g' o5 U2 w% L: Q, \financial conditions and respond to competitive imperatives. There is early evidence of a
7 [5 y# o/ R7 p, f: t! P0 F* precovery in net exports, supported by stronger U.S. activity and global demand for commodities.
! ^8 K  A6 [8 @However, the export sector continues to face considerable challenges from the cumulative effects
' p% O. T( D' M, c* _/ p" xof the persistent strength in the Canadian dollar and Canada's poor relative productivity
: D1 K+ t4 _& z/ `) `1 f' }performance.
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" \  I$ t1 J/ U4 N: V( FWhile global inflationary pressures are rising, inflation in Canada has been consistent with the
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
considerable slack in the economy.
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! J2 ?+ r4 b) N4 cReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
% m% X/ B1 t* |' iat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
9 d* J1 [9 K  w, F* ~+ K  e# u$ @' L2 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.
) {/ R2 r3 ?. w) {1 ~% ]Information 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.