 鲜花( 65)  鸡蛋( 0)
|
Bank of Canada increases overnight rate target to 1/2 per cent and re-establishes normal functioning of the overnight market0 ?" d0 W P$ j3 ~
7 A9 i/ @% [9 @0 @7 z( M. m3 hOTTAWA - The Bank of Canada today announced that it is raising its target for the overnight
* |4 ^# t" ~ ?1 f- W) c5 O$ `0 prate by one-quarter of one percentage point to 1/2 per cent. The Bank Rate is correspondingly) d1 ^, {3 X5 B' E# p4 E4 g" N
raised to 3/4 per cent and the deposit rate is kept at 1/4 per cent, thus re-establishing the normal. F! Y7 b: d, c' Z, V0 A
operating band of 50 basis points for the overnight rate.( U$ M+ C! `0 Z- {9 I
5 p' ~! y+ G+ G* j: c4 \8 p% V% L
The global economic recovery is proceeding but is increasingly uneven across countries, with/ o$ v9 b: ]4 W
strong momentum in emerging market economies, some consolidation of the recovery in the V4 N1 `, j: A9 }4 D
United States, Japan and other industrialized economies, and the possibility of renewed weakness4 e% |" K- h7 z& d* u& ?0 Q
in Europe. The required rebalancing of global growth has not yet materialized.
3 u$ r) L W+ q) u: OIn most advanced economies, the recovery remains heavily dependent on monetary and fiscal
; Z" g% E8 P& `$ O" @stimulus. In general, broad forces of household, bank, and sovereign deleveraging will add to the
# O4 D0 c4 ^2 Q$ dvariability, and temper the pace, of global growth. Recent tensions in Europe are likely to result5 m( f) {" d( m/ g
in higher borrowing costs and more rapid tightening of fiscal policy in some countries - an7 F( K, L1 a+ w1 W- G
important downside risk identified in the April Monetary Policy Report (MPR). Thus far, the
+ V x0 X- b: hspillover into Canada from events in Europe has been limited to a modest fall in commodity
, V; q; J6 S$ |2 p% eprices and some tightening of financial conditions.
1 }" C- n; I; }% ~$ T' ?! Y
* t+ Y3 l& ` {" A/ EActivity in Canada is unfolding largely as expected. The economy grew by a robust 6.1 per cent
& Y7 C4 A7 d! U( `7 b. jin the first quarter, led by housing and consumer spending. Employment growth has resumed.
. R1 V; ]( Q3 b/ {0 h- m/ O) eGoing forward, household spending is expected to decelerate to a pace more consistent with# U$ W% S' k' I. P
income growth. The anticipated pickup in business investment will be important for a more
6 d$ `# G3 H3 l% T! Pbalanced recovery.
: T3 ~% \% p8 D- \$ B9 h# |* V) [: N0 S- r' V9 ?& C* t
CPI inflation has been in line with the Bank's April projections. The outlook for inflation reflects
4 P, T4 W8 ^) ?the combined influences of strong domestic demand, slowing wage growth, and overall excess7 M1 H; E' J0 [! L- i8 m. h1 f# ^' |
supply.
! B0 Q& N& K) R- ~
. V9 X. e& Y* z3 o( ?In this context, the Bank has decided to raise the target for the overnight rate to 1/2 per cent and2 h- \: _% y! n) T) m
to re-establish the normal functioning of the overnight market. This decision still leaves considerable
z! R9 v; J1 ^) `8 Rmonetary stimulus in place, consistent with achieving the 2 per cent inflation target in light of the
5 z9 H% J y$ k9 ^+ G f: _) d4 |3 Esignificant excess supply in Canada, the strength of domestic spending, and the uneven global recovery.
. v7 N% I# j) Q6 A2 m' J$ @7 O% Y! i9 J: B$ `& u
Given the considerable uncertainty surrounding the outlook, any further reduction of monetary Y. ]7 {) y7 I9 s# y
stimulus would have to be weighed carefully against domestic and global economic
. \- {0 g. g$ L; Y& j7 idevelopments.; `( d; p- Q, T+ |: t
& S7 k+ g7 A; j8 ~8 R& b% O* g, T9 ]
Information note:
. o/ G1 A/ J6 r$ g1 R) zThe next scheduled date for announcing the overnight rate target is 20 July 2010. A full update
1 t" s* _; Z2 E! B/ u" l4 xof the Bank's outlook for the economy and inflation, including risks to the projection, will be" v/ c B% [ E
published in the MPR on 22 July 2010. |
|
狗仔卡
发表于 2010-6-1 07:58
提升卡
置顶卡
沉默卡
喧嚣卡
变色卡
显身卡
楼主
发表于 2010-6-1 10:11
发表于 2010-6-1 12:38
小罚一下， 请您做一碗正宗的麻辣面犒劳一下版主游侠同志！