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.

. M" M2 P: a4 T( ~; L) {The global economic recovery is proceeding broadly in line with the Bank's projection in its
: E1 |& \( J5 {8 X( n9 t* D* ?  t0 sJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
, M0 d6 A" g( z2 Y" Ksolidifying 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
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
be further reinforced temporarily by supply shocks arising from recent geopolitical events.
  {5 f: F5 X. p7 _; p9 A( v- _
/ b& J  r- V( n; c8 g0 MThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
/ T0 X7 J$ j8 q. w/ s! {the anticipated rebalancing of demand. While consumption growth remains strong, there are
signs that household spending is moving more in line with the growth in household incomes.
) n. @+ \/ f. ~, B3 JBusiness investment continues to expand rapidly as companies take advantage of stimulative
financial 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.
% w8 R' O" t1 V& iHowever, 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
. ^; Q, b* K& d5 n* T( N  l& {performance.
& ~' H6 s: M; Y% x# W& X2 B
While global inflationary pressures are rising, inflation in Canada has been consistent with the
4 d2 g+ E! x( j( m4 V2 uBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
' n* [* U8 T2 Y/ E. l9 pconsiderable slack in the economy.
* g9 L) T0 g* s1 B
% H6 X) g4 Y$ m3 C+ V4 w1 hReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
, ~! N- u; Z8 W; Aat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
$ [4 R+ Z8 `7 t3 B: U! S2 x) b2 per cent inflation target in an environment of significant excess supply in Canada. Any further
# \5 O- m7 O0 Zreduction in monetary policy stimulus would need to be carefully considered.
9 q3 }) H0 u" a' f) `* MInformation note:

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.