 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 market9 n; G& j' N4 H$ L/ F
1 w- h o8 l" g5 [. I! W: i' sOTTAWA - The Bank of Canada today announced that it is raising its target for the overnight
% K$ F+ j$ K3 v- Nrate by one-quarter of one percentage point to 1/2 per cent. The Bank Rate is correspondingly' g$ D( ~3 a0 x# U
raised to 3/4 per cent and the deposit rate is kept at 1/4 per cent, thus re-establishing the normal
3 _4 I0 g$ Y( X& D8 |operating band of 50 basis points for the overnight rate.& ^3 b! [( F. {# p
9 B: m {; _9 w# A9 d; S; ]/ M% p: pThe global economic recovery is proceeding but is increasingly uneven across countries, with2 r3 X. R4 C" Z5 [7 ~
strong momentum in emerging market economies, some consolidation of the recovery in the1 `5 T: L- P; T! v" n, p" }
United States, Japan and other industrialized economies, and the possibility of renewed weakness# g$ e6 {) E, ?& R; T: x
in Europe. The required rebalancing of global growth has not yet materialized.3 V* `: F1 N1 i' c& `
In most advanced economies, the recovery remains heavily dependent on monetary and fiscal
1 B, b( l+ z" j* W/ [stimulus. In general, broad forces of household, bank, and sovereign deleveraging will add to the
' @. o$ F, T( I5 ?variability, and temper the pace, of global growth. Recent tensions in Europe are likely to result7 Z' _1 f! E) h! N, P
in higher borrowing costs and more rapid tightening of fiscal policy in some countries - an8 Y; T6 m# }' x, {/ t! J% x7 p0 X
important downside risk identified in the April Monetary Policy Report (MPR). Thus far, the
- A0 h. d8 c# }4 t9 Qspillover into Canada from events in Europe has been limited to a modest fall in commodity
; t+ T P9 E9 F. _0 Yprices and some tightening of financial conditions.- q$ N; R# ?9 q& h& j3 w4 k
- q0 ~: f9 k4 [& g* A) WActivity in Canada is unfolding largely as expected. The economy grew by a robust 6.1 per cent
! W4 I+ v3 W! K* s! `in the first quarter, led by housing and consumer spending. Employment growth has resumed.$ x. t) j7 S- G- X2 H
Going forward, household spending is expected to decelerate to a pace more consistent with* s% {/ i; A1 r# X2 F4 A' K
income growth. The anticipated pickup in business investment will be important for a more& o6 Z2 m ?2 X: _/ W+ K6 @4 v
balanced recovery.
4 m8 R' C$ `- r
5 {# `0 w! p% G, i, E2 Z% mCPI inflation has been in line with the Bank's April projections. The outlook for inflation reflects
( I- t8 n5 M2 Y, f0 O; |6 fthe combined influences of strong domestic demand, slowing wage growth, and overall excess
- Z- A. X e7 b/ k9 bsupply.& |8 g4 Y) R0 n2 |
! M9 p9 {( v5 @& S! d% g5 K6 ?
In this context, the Bank has decided to raise the target for the overnight rate to 1/2 per cent and! I% Q- x3 Z1 c/ _$ \$ X y4 W
to re-establish the normal functioning of the overnight market. This decision still leaves considerable
0 u% O1 j- w- E# U% G: }; {monetary stimulus in place, consistent with achieving the 2 per cent inflation target in light of the & f! b, c# i' k3 u" U: W9 U/ F
significant excess supply in Canada, the strength of domestic spending, and the uneven global recovery.
$ p& _- E# M# k3 B* O- ?) T8 a/ _- a- ?) w N2 X; }% e9 y8 G/ S
Given the considerable uncertainty surrounding the outlook, any further reduction of monetary, @+ Z+ x7 T# `* d7 l1 _6 J
stimulus would have to be weighed carefully against domestic and global economic
& J: }# p4 y# x; u$ A- Q, cdevelopments.1 t e4 `3 O- {! r! ~$ b
3 Y V" B! ^3 d+ H: C$ {4 hInformation note:
/ w4 V4 g; D1 E2 v( ?' t. eThe next scheduled date for announcing the overnight rate target is 20 July 2010. A full update
$ n+ d1 I0 X3 `2 Vof the Bank's outlook for the economy and inflation, including risks to the projection, will be7 N5 l# w7 ?& w2 j
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！