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.

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
9 z, p5 L- G* s* I* osolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
+ D) j, l3 h9 u- E8 z* t$ kchallenges associated with sovereign and bank balance sheets will limit the pace of the European
3 u; L6 B. x" W7 orecovery and are a significant source of uncertainty to the global outlook. Robust demand from
; E8 Z1 j" G/ M1 O3 ?8 h' Iemerging-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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8 r* L$ \( [) @The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
, D5 |+ f6 M/ _* U( k* w: |9 Fthe anticipated rebalancing of demand. While consumption growth remains strong, there are
. y( l0 K$ `) M8 C. _" h: ~signs 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
9 q; U' d' @+ H( A& }financial conditions and respond to competitive imperatives. There is early evidence of a
  N0 \  V, s/ q; Q) m# Q  grecovery in net exports, supported by stronger U.S. activity and global demand for commodities.
" K& t+ B/ G6 s4 H5 a2 j, Q' b8 m# J- ]However, 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
performance.
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; H6 L2 X( I- [3 X' lWhile global inflationary pressures are rising, inflation in Canada has been consistent with the
1 g7 r1 O& x6 J+ ^+ EBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
2 v3 C# I3 W* @! aconsiderable slack in the economy.
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: Z9 `+ W6 K* J. YReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
( M5 c2 m- I0 K( [" Fat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
3 ^: O  x% I0 l. e2 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.
" f. f; d% G; R1 y, dInformation note:
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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.