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.

+ Q, c% y; k( I. v! p6 O  kThe global economic recovery is proceeding broadly in line with the Bank's projection in its
9 q4 d- j4 q- g2 I- |* x" Q" H/ ?2 sJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
7 T: @: X2 Y/ }& wchallenges associated with sovereign and bank balance sheets will limit the pace of the European
# }7 f* ~8 e6 t* ~" ?5 Zrecovery 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
6 P6 h# Z! E- F6 Z$ f& X' F1 o1 \be further reinforced temporarily by supply shocks arising from recent geopolitical events.
0 H" H/ k( h6 `$ f9 ~
/ M! \1 h$ D2 |6 u  ]0 CThe 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
6 T# F6 `/ \) Q; E+ w5 vsigns 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
, Q0 `( M4 f/ G: d/ x) V5 cfinancial conditions and respond to competitive imperatives. There is early evidence of a
$ y1 w) ^2 e5 |$ Zrecovery in net exports, supported by stronger U.S. activity and global demand for commodities.
% d9 v) d! u7 F- E" A2 cHowever, the export sector continues to face considerable challenges from the cumulative effects
1 b4 f* X6 s' T7 V: U; \8 |of the persistent strength in the Canadian dollar and Canada's poor relative productivity
0 M, E; J3 [$ G9 e- S# mperformance.
& Z# T2 |  T+ C7 h# ^9 r$ z, h0 ^
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
2 v- g5 ]% I2 [" L8 M* c# Kconsiderable slack in the economy.

Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
+ }3 r, W" o% e/ X1 }, ~at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
9 S3 O# |! A& E2 f  i2 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.
4 ]6 O; \, i  R) c! NInformation 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.