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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3 w2 T5 Y; g  G9 `/ L) w+ M8 R' Q& gThe 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
1 f7 N1 Q' p+ K0 Vsolidifying 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
9 h  b# ?% q+ x% q. i! jemerging-market economies is driving the underlying strength in commodity prices, which could
be 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
$ }( H8 o9 G% R5 H1 Z; uthe anticipated rebalancing of demand. While consumption growth remains strong, there are
2 M. r4 g9 Y# ~# h2 J5 q3 o  tsigns that household spending is moving more in line with the growth in household incomes.
! x9 N' X" v, [9 R4 x9 n: ZBusiness investment continues to expand rapidly as companies take advantage of stimulative
financial conditions and respond to competitive imperatives. There is early evidence of a
7 }' m, I: a! t6 w% @7 Lrecovery in net exports, supported by stronger U.S. activity and global demand for commodities.
9 ?; z% m  J8 u9 A* i. N- S! |/ jHowever, 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
6 f; w) X$ l$ k3 U' s- i5 M1 ^% |performance.

3 O" y; \4 n! [& s  GWhile global inflationary pressures are rising, inflation in Canada has been consistent with the
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
% T2 i, X6 o$ f( T# g; |- P! Bconsiderable 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
" b4 n" x! b2 hat 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
reduction in monetary policy stimulus would need to be carefully considered.
" w7 h' Z4 D; o* ?3 A( JInformation note:
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. ^) b4 \$ }  U# H+ X2 ?2 xThe 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.