 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." K; i3 ~6 ~5 E, a. X9 |# y
0 H$ j% D* H; ?2 g& [The global economic recovery is proceeding broadly in line with the Bank's projection in its
3 f0 }/ R3 Z/ o" jJanuary Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
; c6 \3 S' \2 W+ gsolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing
3 e4 g; c. G& }challenges associated with sovereign and bank balance sheets will limit the pace of the European* F! P, R; N e1 z. R
recovery and are a significant source of uncertainty to the global outlook. Robust demand from2 _ E; m+ m$ d/ o; i2 I4 ^% J
emerging-market economies is driving the underlying strength in commodity prices, which could
0 I t& Y; k! ?% y: T9 w' \4 tbe further reinforced temporarily by supply shocks arising from recent geopolitical events.
5 }9 @& G! l+ p. h( g1 L
4 E" w, V& G' y- @- x# aThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of
. v( y$ t. g2 G; Nthe anticipated rebalancing of demand. While consumption growth remains strong, there are
9 r @$ r" A8 u2 R, T" A5 ]& W# d! tsigns that household spending is moving more in line with the growth in household incomes.4 m5 u3 R3 H) R1 {$ O. U5 n( g8 Y
Business investment continues to expand rapidly as companies take advantage of stimulative8 ^, P' I; v7 W; ^4 ], L
financial conditions and respond to competitive imperatives. There is early evidence of a
: Y2 C& |. v- d- v5 c4 K1 yrecovery in net exports, supported by stronger U.S. activity and global demand for commodities.6 {3 w8 \# v! {' m7 H
However, the export sector continues to face considerable challenges from the cumulative effects" C. t! y* @- @" {3 L. ]
of the persistent strength in the Canadian dollar and Canada's poor relative productivity
! o9 h# ]1 S/ E5 Tperformance.! V t- ?& Q. |$ p. ?# q- Q; g
& g+ i/ t8 c5 j1 E1 e4 S% Q$ g7 k
While global inflationary pressures are rising, inflation in Canada has been consistent with the) i1 V8 G8 l0 D: T
Bank's expectations. Underlying pressures affecting prices remain subdued, reflecting the
& P# Z: G5 c8 H3 c7 M v) Pconsiderable slack in the economy.
, x2 D1 a3 X8 r0 R! j ?" k
% S. `- ^$ r( A( T4 B$ U7 r% UReflecting all of these factors, the Bank has decided to maintain the target for the overnight rate+ J+ f1 L" V& w# w K$ v% S
at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
$ m) }+ H. A- e# S, c2 per cent inflation target in an environment of significant excess supply in Canada. Any further
/ Q1 k0 R. q9 greduction in monetary policy stimulus would need to be carefully considered.7 d9 g2 F5 `5 c2 W6 W4 F
Information note:6 u9 P: f2 C0 a2 y& @
2 A) x8 L) X' S; v/ W0 y% v1 G; g
The next scheduled date for announcing the overnight rate target is 12 April 2011. |
|