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.

# _( f+ R" ^* P. u' _5 EThe global economic recovery is proceeding broadly in line with the Bank's projection in its
7 ]& m. U4 ~. w4 R# \January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
- |# N* `) _" ?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
/ y1 x8 |" @7 x5 k  Abe further reinforced temporarily by supply shocks arising from recent geopolitical events.

- _* v/ c: B0 [4 a4 }; XThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
# L" D. s* [; |4 _the anticipated rebalancing of demand. While consumption growth remains strong, there are
# E9 K% @6 n+ s* Z. L: Z6 Ksigns 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
/ W) k3 f* N" Q0 e* ?financial conditions and respond to competitive imperatives. There is early evidence of a
* T# z6 V% C+ R: C% k+ brecovery in net exports, supported by stronger U.S. activity and global demand for commodities.
0 c4 R& ~3 F3 z; W6 u: Q; yHowever, the export sector continues to face considerable challenges from the cumulative effects
of the persistent strength in the Canadian dollar and Canada's poor relative productivity
performance.
: u5 w8 e9 t1 \- v9 H
While global inflationary pressures are rising, inflation in Canada has been consistent with the
# _. r- ?% Q3 A' P5 @2 CBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
considerable slack in the economy.
4 `) Y4 l2 R$ a. S( m5 q7 S  H( C+ E
" \6 `+ n7 I6 D3 c0 w1 S4 M  _3 eReflecting 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
# ~3 t1 w) p) xreduction in monetary policy stimulus would need to be carefully considered.
  ]2 h! N! v) y( \& ^Information note:
, V3 f) I% _5 B9 S
; u, E  K# y2 j! p1 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.