 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 market3 P: c5 f: v, ^9 d
% ]2 N9 N4 Y- c% e
OTTAWA - The Bank of Canada today announced that it is raising its target for the overnight
7 d0 ]$ x; h6 ^! {4 Q Nrate by one-quarter of one percentage point to 1/2 per cent. The Bank Rate is correspondingly+ n s3 X! ^2 p; N: k
raised to 3/4 per cent and the deposit rate is kept at 1/4 per cent, thus re-establishing the normal
' d; u4 ]8 Y; p1 Woperating band of 50 basis points for the overnight rate.+ R+ n) _ A) _: m5 U; ]# B N5 b
" k2 X. w$ [! J1 P$ N" ~: EThe global economic recovery is proceeding but is increasingly uneven across countries, with1 F0 @& D) d$ y2 K2 u+ B
strong momentum in emerging market economies, some consolidation of the recovery in the
7 W& I' T. w: E$ ^; ~: A. LUnited States, Japan and other industrialized economies, and the possibility of renewed weakness
5 e7 x+ A5 }. g0 f8 {in Europe. The required rebalancing of global growth has not yet materialized.; K0 w# Q$ V4 ]2 Y* b( @
In most advanced economies, the recovery remains heavily dependent on monetary and fiscal$ C% J5 P5 |; A# e! a. E* B! e
stimulus. In general, broad forces of household, bank, and sovereign deleveraging will add to the
9 p. \; W7 o* R9 W" Nvariability, and temper the pace, of global growth. Recent tensions in Europe are likely to result
' N* m; Q& A) @5 g9 cin higher borrowing costs and more rapid tightening of fiscal policy in some countries - an, w g' P8 |& I- d; H% B
important downside risk identified in the April Monetary Policy Report (MPR). Thus far, the
. @( g- J0 t$ A! [. Z) j- b. b. G zspillover into Canada from events in Europe has been limited to a modest fall in commodity2 l( C; i2 s2 S6 N
prices and some tightening of financial conditions.
: I A' k) v ?0 {
' f" B% a; @$ B+ i1 tActivity in Canada is unfolding largely as expected. The economy grew by a robust 6.1 per cent# R3 ]6 V/ y& Y6 I5 K$ j& N
in the first quarter, led by housing and consumer spending. Employment growth has resumed.( a' Q# w9 J7 U) E: Z s# N
Going forward, household spending is expected to decelerate to a pace more consistent with
; w- M# v; C% I3 k4 j! n+ _6 s+ |income growth. The anticipated pickup in business investment will be important for a more
: i& x5 g: T+ Q& S2 _2 k9 Ybalanced recovery.
l0 ^9 l8 ^+ h) K8 s! n2 Z: g% ~1 _6 j; k
CPI inflation has been in line with the Bank's April projections. The outlook for inflation reflects
0 Q" @5 b, W: ?the combined influences of strong domestic demand, slowing wage growth, and overall excess
! a* \" m: v- q3 v4 n0 T2 W8 osupply.0 ~( o- Z% ]3 D2 @ t7 p/ Y
4 i ]3 h/ D- S) e8 _$ T8 [& B3 g
In this context, the Bank has decided to raise the target for the overnight rate to 1/2 per cent and2 c8 C3 x# o3 m( q' u8 A! X' M3 m
to re-establish the normal functioning of the overnight market. This decision still leaves considerable 1 a1 C: o9 [- X( z7 _
monetary stimulus in place, consistent with achieving the 2 per cent inflation target in light of the ' a8 e o% f+ p5 `: \
significant excess supply in Canada, the strength of domestic spending, and the uneven global recovery.
6 E$ U9 q+ x6 N9 w1 i" b7 }, b1 i; k: Q# [
Given the considerable uncertainty surrounding the outlook, any further reduction of monetary
& ^0 M2 I7 w2 S) Estimulus would have to be weighed carefully against domestic and global economic0 l' s' c/ J, l: ~3 T9 _
developments.
2 X/ t- O$ A$ t4 }6 q! [) @, p. ^1 w3 R
Information note:
% o! V# n4 f& q% A! EThe next scheduled date for announcing the overnight rate target is 20 July 2010. A full update
, e- [! s1 Q& V' o+ Lof the Bank's outlook for the economy and inflation, including risks to the projection, will be, v4 Y! P3 X- D7 b
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！