 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 market1 U4 J/ e( `9 ^: D2 y) n+ @3 x( F' A
: ~5 {: s: A7 r: n" G
OTTAWA - The Bank of Canada today announced that it is raising its target for the overnight
6 k+ I$ D: A* V f R$ f' o8 o5 urate by one-quarter of one percentage point to 1/2 per cent. The Bank Rate is correspondingly
- b2 M0 M2 ?& b' L% iraised to 3/4 per cent and the deposit rate is kept at 1/4 per cent, thus re-establishing the normal
$ j9 O- s4 K3 y! S9 f0 E/ voperating band of 50 basis points for the overnight rate.
& r5 ^9 |+ ~4 d- B/ E+ N
0 d ?8 R9 D) Q& dThe global economic recovery is proceeding but is increasingly uneven across countries, with
" J6 J* ?8 f* s1 ?strong momentum in emerging market economies, some consolidation of the recovery in the' A7 b/ i3 h1 x @1 _
United States, Japan and other industrialized economies, and the possibility of renewed weakness
0 Y( f7 p$ R W) f) m8 ^3 Xin Europe. The required rebalancing of global growth has not yet materialized.
! M6 I! y/ c) T7 I$ O NIn most advanced economies, the recovery remains heavily dependent on monetary and fiscal
, l& A; E# E3 |1 Vstimulus. In general, broad forces of household, bank, and sovereign deleveraging will add to the7 i! c9 M1 D2 G8 |
variability, and temper the pace, of global growth. Recent tensions in Europe are likely to result! J3 z+ @/ {* d5 K' m: }
in higher borrowing costs and more rapid tightening of fiscal policy in some countries - an8 P% U7 M o- ~
important downside risk identified in the April Monetary Policy Report (MPR). Thus far, the7 T4 }( w4 E \+ K3 m
spillover into Canada from events in Europe has been limited to a modest fall in commodity
5 b& h* q3 }6 r1 zprices and some tightening of financial conditions.
- V3 O; u9 V U# i+ t& k6 t& d1 B. y; Z7 M& `% h
Activity in Canada is unfolding largely as expected. The economy grew by a robust 6.1 per cent8 j8 Z! g! B3 T9 k* \. S
in the first quarter, led by housing and consumer spending. Employment growth has resumed.
& d* P$ E" S3 q$ w3 A! s: oGoing forward, household spending is expected to decelerate to a pace more consistent with
! N" x5 t: v4 C7 j2 O4 Lincome growth. The anticipated pickup in business investment will be important for a more
% m+ c9 V. u4 J( M V3 sbalanced recovery.. U- z# q/ o) A$ T& a8 b
" Q2 ~9 ?# Z* O) f$ l
CPI inflation has been in line with the Bank's April projections. The outlook for inflation reflects
9 M& F0 t0 {) lthe combined influences of strong domestic demand, slowing wage growth, and overall excess1 g; u: f9 u s! m& U! q1 }6 M2 \
supply." I/ m: w8 v0 {% D' C- F( S
- F. Z* T/ z, t$ c3 P- j" A+ h+ i
In this context, the Bank has decided to raise the target for the overnight rate to 1/2 per cent and! H/ o8 c* T8 K9 p: c3 q4 ]! b" p2 j
to re-establish the normal functioning of the overnight market. This decision still leaves considerable
$ q' G' j) Z( h4 {monetary stimulus in place, consistent with achieving the 2 per cent inflation target in light of the % l& B5 m! D4 A! k0 y
significant excess supply in Canada, the strength of domestic spending, and the uneven global recovery.
1 ~2 x9 J2 \( b- Y
^& `7 B5 T( m& Y8 @Given the considerable uncertainty surrounding the outlook, any further reduction of monetary; n8 U- q$ U5 |8 L5 t+ G R- A
stimulus would have to be weighed carefully against domestic and global economic# ~; o7 C# Q t* C+ Y% o" f# O! D
developments.4 y; }9 h" Z6 U1 q5 O1 Z
0 S" I2 W `3 R3 }) t9 u3 F
Information note:3 ]( N8 W* W, F4 D+ _ C' i% l: ^* ]( x
The next scheduled date for announcing the overnight rate target is 20 July 2010. A full update% Y9 T2 r* b- Z9 w
of the Bank's outlook for the economy and inflation, including risks to the projection, will be! S( X& G2 D4 @- L X
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！