 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.
( C. f4 C/ j1 ~$ _$ y
5 a& g% h. s8 Y6 m b) cThe global economic recovery is proceeding broadly in line with the Bank's projection in its: C( M- M. G1 ~' C) l" H; f5 ]
January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is
! ~% t6 p9 h/ u L' n7 W& tsolidifying and remains supported by stimulative fiscal and monetary policies. Ongoing" @4 [; m9 N7 C2 F+ Z3 e2 G9 g8 V" \
challenges associated with sovereign and bank balance sheets will limit the pace of the European
# K# G5 q5 k0 N3 U9 xrecovery and are a significant source of uncertainty to the global outlook. Robust demand from' L8 Z+ O# G. @( y6 A6 |* T3 A
emerging-market economies is driving the underlying strength in commodity prices, which could/ G6 \. P/ w1 k8 [9 H x
be further reinforced temporarily by supply shocks arising from recent geopolitical events.
! e3 z& o6 ]; z+ X! q; \
4 i$ ]4 V$ p' ?" x. E2 I- g4 WThe recovery in Canada is proceeding slightly faster than expected, and there is more evidence of E, T% u- G6 T* z# k5 R0 L
the anticipated rebalancing of demand. While consumption growth remains strong, there are4 s, m; M# m0 X' J* G! t R) |
signs that household spending is moving more in line with the growth in household incomes.
& O/ {# q4 F# g( Z0 ~Business investment continues to expand rapidly as companies take advantage of stimulative. Z( @8 p, c Q% d- F3 _
financial conditions and respond to competitive imperatives. There is early evidence of a
; R+ N6 o5 F6 M* t7 V7 Jrecovery in net exports, supported by stronger U.S. activity and global demand for commodities.
" ~, N0 j1 q# I/ @0 ]However, the export sector continues to face considerable challenges from the cumulative effects
( \4 s5 B2 X! Bof the persistent strength in the Canadian dollar and Canada's poor relative productivity8 ^9 X% S, Q, n7 m( L+ ~
performance.0 C, E5 Z3 n7 t5 ?# A
6 G7 c* @9 a& t! }% m& |* L% SWhile global inflationary pressures are rising, inflation in Canada has been consistent with the
3 u. I2 t& o7 b' {/ ZBank's expectations. Underlying pressures affecting prices remain subdued, reflecting the3 q5 z1 U, M" J+ p, o9 z3 r
considerable slack in the economy.* w" b& B" c0 O
, W1 t1 B' c, G& m3 V7 U7 |Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate
; W: N2 z; X4 U. z1 j" ~3 lat 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the
) V* O# f) Y8 u6 J0 Q+ I/ K2 per cent inflation target in an environment of significant excess supply in Canada. Any further7 ?% b4 T6 D* m
reduction in monetary policy stimulus would need to be carefully considered.) I, ~5 }0 j' L4 { V; D
Information note:
0 b* d7 s& m" [3 O
$ X" M) J2 t( Z O KThe next scheduled date for announcing the overnight rate target is 12 April 2011. |
|