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.

! k, b* `  c2 OThe global economic recovery is proceeding broadly in line with the Bank's projection in its
8 }6 J9 A  O5 J9 DJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
/ g% E0 f, J# ?solidifying 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
$ P' q! E7 d+ ]6 Nemerging-market economies is driving the underlying strength in commodity prices, which could
be further reinforced temporarily by supply shocks arising from recent geopolitical events.

. f4 b( @1 u* O/ ?& a7 D+ L; ^' `The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
+ R0 t  u8 {5 A* i: n* f& U; v% Kthe anticipated rebalancing of demand. While consumption growth remains strong, there are
6 g  S3 a# t# e) m8 l1 Jsigns that household spending is moving more in line with the growth in household incomes.
4 k$ Z$ B+ T9 l4 M, b/ u; sBusiness 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.
) Y; k2 C5 r2 n' ?4 d- R+ K& w+ FHowever, the export sector continues to face considerable challenges from the cumulative effects
* e7 F# ]2 P8 c( \7 Vof the persistent strength in the Canadian dollar and Canada's poor relative productivity
performance.
: E& X' K9 q4 Y- O
While global inflationary pressures are rising, inflation in Canada has been consistent with the
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
+ B5 O- {! l- ?% I# x  y6 Fconsiderable slack in the economy.
& z7 ], L! d0 j. R# l+ j1 _) s
- o1 O" l6 z- x+ `Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
* W9 K2 p( J  Z+ e* H4 |) ?6 J( Wat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
8 B* y- S. k% S' V9 X2 per cent inflation target in an environment of significant excess supply in Canada. Any further
# l0 ^) t% h0 S! i2 `reduction in monetary policy stimulus would need to be carefully considered.
; W: m$ P( l  Q& }- J/ |% t# S# iInformation note:
" G8 X. F% a8 w( i
! |4 A9 Q& ~3 b( VThe 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.