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.

; h" a/ ?* e, d( t% eThe global economic recovery is proceeding broadly in line with the Bank's projection in its
; P+ J7 l* f8 }( }# OJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
# u' h; W# X. Nsolidifying 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
, @! c7 i9 t! ^# t5 B1 v+ Lrecovery 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
! k& d1 }! @! t. [- W/ b. ]be further reinforced temporarily by supply shocks arising from recent geopolitical events.
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1 M& m4 |8 ^" V' F# aThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
+ Z; n8 c% i  F  e! U( W* jthe anticipated rebalancing of demand. While consumption growth remains strong, there are
3 z5 `7 t4 J" G. usigns 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
7 }* g* \" s! ~3 B0 Xfinancial conditions and respond to competitive imperatives. There is early evidence of a
, M1 T- F+ t  M- I. x. {/ arecovery in net exports, supported by stronger U.S. activity and global demand for commodities.
However, the export sector continues to face considerable challenges from the cumulative effects
1 Q# v0 g! @9 B2 \7 V% j# v; |of the persistent strength in the Canadian dollar and Canada's poor relative productivity
performance.
( _0 h( g, x1 T- |. _
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
1 `8 f* o# F. j' h! lconsiderable slack in the economy.
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' ~9 b. J! t9 f! a5 r+ `$ UReflecting 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 R  ^% y5 ?; k1 K# dreduction in monetary policy stimulus would need to be carefully considered.
Information note:
3 u0 ^6 i  J7 A: N# f
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.