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
1 R  J# ]& H# T9 RJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
% ]% H9 @: G) o1 [; e$ t; J, dsolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
) Q4 s# @' E# f0 ychallenges associated with sovereign and bank balance sheets will limit the pace of the European
# H4 s) @8 f3 h6 D6 N7 orecovery 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
+ v; R% ^% e. }4 D2 w. Xbe 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
the anticipated rebalancing of demand. While consumption growth remains strong, there are
; ^! B5 N: V2 ]- K* n6 A$ F# c5 Osigns that household spending is moving more in line with the growth in household incomes.
: y5 N( Y1 n  I5 c9 TBusiness investment continues to expand rapidly as companies take advantage of stimulative
financial conditions and respond to competitive imperatives. There is early evidence of a
" ]. f+ }1 {0 @9 W. Krecovery in net exports, supported by stronger U.S. activity and global demand for commodities.
; p4 a+ v: J. aHowever, 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.

" L" o" Y0 r1 j5 s, ]$ HWhile 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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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
, @2 |. x# J  f+ U: G. Ireduction in monetary policy stimulus would need to be carefully considered.
6 h- z& r) L5 X9 N# P& WInformation 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.