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.
0 [6 \$ Y8 y. R
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
+ A  D4 Q& B" Y, Q# b2 ~; E8 asolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
5 c+ F+ c# T2 J: j% s& Zchallenges associated with sovereign and bank balance sheets will limit the pace of the European
0 F! ]* V; D( V7 j. W. z) A, ?) I1 erecovery and are a significant source of uncertainty to the global outlook. Robust demand from
0 M; U$ D- @0 `' |# H4 t; Femerging-market economies is driving the underlying strength in commodity prices, which could
be further reinforced temporarily by supply shocks arising from recent geopolitical events.

" @+ V4 W( D$ Y7 EThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
! W) ^  K% ^9 G1 W0 A! A3 g* k& V6 @the anticipated rebalancing of demand. While consumption growth remains strong, there are
# A) }% I! B; a% N2 osigns 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
% I' m7 m" b& _+ f% w! g4 B- Sfinancial conditions and respond to competitive imperatives. There is early evidence of a
* w4 I2 \7 v; Y* h1 w7 Mrecovery 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
8 g& e8 i$ Z5 }of the persistent strength in the Canadian dollar and Canada's poor relative productivity
performance.

+ j) J- Z, u% f+ L4 Z! U) S* nWhile global inflationary pressures are rising, inflation in Canada has been consistent with the
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
- f. ^) D/ c2 P6 ]: [considerable slack in the economy.
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$ s( R# q3 M. E( _! q# R- l3 V7 }Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
) G" \' s& G5 w0 p5 c7 ~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
reduction in monetary policy stimulus would need to be carefully considered.
Information note:

; g% Y8 {. c8 PThe 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.