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
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
0 l0 S& Q6 {8 C3 n2 N* L; _( Xsolidifying 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
- ]$ ~, j; l  [8 {9 b5 mrecovery 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
# n! Z8 j" Z3 Wbe 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
/ A, r; k: k0 X( \7 p3 zsigns 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
1 A7 P# Z4 N2 [/ y  d# x7 Jfinancial conditions and respond to competitive imperatives. There is early evidence of a
5 m6 w; k2 H' y& M* jrecovery in net exports, supported by stronger U.S. activity and global demand for commodities.
1 c" f  Z6 e4 d$ sHowever, the export sector continues to face considerable challenges from the cumulative effects
" Z+ [  s) h7 {: Wof the persistent strength in the Canadian dollar and Canada's poor relative productivity
) d% I* Z" k7 |% ?: x7 Y0 Pperformance.

! d# k5 L9 C5 _- H* yWhile global inflationary pressures are rising, inflation in Canada has been consistent with the
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
3 @  e9 x% X+ M+ iconsiderable slack in the economy.

Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
! a: `. Y1 m0 t+ {at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
4 f8 |: ]" M) d2 D" m2 per cent inflation target in an environment of significant excess supply in Canada. Any further
  }6 `+ a, v5 n: qreduction in monetary policy stimulus would need to be carefully considered.
* Q6 T: ?2 W' b, m* a6 E8 aInformation 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.