 鲜花( 65)  鸡蛋( 0)
|
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.
+ I9 \0 @. d2 P. o9 b9 _1 K$ D/ a
9 k4 t# s% R C5 w XThe global economic recovery is proceeding broadly in line with the Bank's projection in its6 g3 _1 U3 N) o
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is4 S. ^7 U" @ `8 T2 P( n5 x/ v# ~/ ^
solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
; J% e; {: D1 N3 I4 e3 gchallenges associated with sovereign and bank balance sheets will limit the pace of the European
* r$ `$ q% G8 B5 _recovery and are a significant source of uncertainty to the global outlook. Robust demand from
2 |9 R# q8 m5 C: }5 ^emerging-market economies is driving the underlying strength in commodity prices, which could
]. n+ d# ^% Hbe further reinforced temporarily by supply shocks arising from recent geopolitical events.. Z' P" ]: o" N, f+ l' V2 ~
/ X( S, X% Z0 }The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
* @ L p/ G3 H( E( q! f( o }the anticipated rebalancing of demand. While consumption growth remains strong, there are8 t1 r/ w) e0 y# @
signs that household spending is moving more in line with the growth in household incomes.
. S' C* j+ K" M N' P, |& g; r3 j; EBusiness investment continues to expand rapidly as companies take advantage of stimulative* Q4 k" w C0 f4 o, I
financial conditions and respond to competitive imperatives. There is early evidence of a
, I& p! j. G4 H) b. drecovery in net exports, supported by stronger U.S. activity and global demand for commodities.
3 f2 [/ M" z! m* u( O- WHowever, the export sector continues to face considerable challenges from the cumulative effects
9 I: L- K" y6 R# S$ Mof the persistent strength in the Canadian dollar and Canada's poor relative productivity+ [' T: Q& a1 N1 h
performance.
, ?; W+ g0 ^) \+ i( \+ [5 Y6 ]/ V& H2 M6 _
While global inflationary pressures are rising, inflation in Canada has been consistent with the( B# z6 b. }4 J% _0 u; \
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
; B- r$ ]# S2 C1 w; ~& _0 cconsiderable slack in the economy.; |2 M* p& x, f8 L
. G' |4 S5 l8 o8 l# T! j; LReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
! v7 s9 o0 B/ E* s9 Jat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
/ _# s3 S! U) c9 g8 x2 per cent inflation target in an environment of significant excess supply in Canada. Any further* i; D3 n4 ^9 g) T6 Q
reduction in monetary policy stimulus would need to be carefully considered.
1 N3 S# d! P6 Y; z/ m) U' S! BInformation note:+ l6 f3 T1 U+ ^8 I" A
2 l! a u9 e2 g. lThe next scheduled date for announcing the overnight rate target is 12 April 2011. |
|