 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 market4 |: P$ Q" G8 i4 ?: T
2 H9 ]6 c7 v$ @OTTAWA - The Bank of Canada today announced that it is raising its target for the overnight3 I6 i% }; Q4 D, R6 q& T' r* F
rate by one-quarter of one percentage point to 1/2 per cent. The Bank Rate is correspondingly
7 |* T4 V; h3 ]) x3 a: Iraised to 3/4 per cent and the deposit rate is kept at 1/4 per cent, thus re-establishing the normal! i2 M6 H0 d9 f7 i2 p w- @1 }
operating band of 50 basis points for the overnight rate.
9 S( ?5 |9 w4 \ h% j. R" T0 P' u. K6 z
7 a0 m- n5 K# d9 p" ZThe global economic recovery is proceeding but is increasingly uneven across countries, with. N ]. w, }! U4 U* j! S4 P
strong momentum in emerging market economies, some consolidation of the recovery in the
- _1 q. d3 [5 D/ b8 H, h4 DUnited States, Japan and other industrialized economies, and the possibility of renewed weakness
# H `1 u; ]- z# d/ [5 P- Gin Europe. The required rebalancing of global growth has not yet materialized.# f0 \1 H1 W) H
In most advanced economies, the recovery remains heavily dependent on monetary and fiscal
- R* i) n9 }8 q# a8 \% Jstimulus. In general, broad forces of household, bank, and sovereign deleveraging will add to the
1 p- j. S9 H" g$ V3 ]variability, and temper the pace, of global growth. Recent tensions in Europe are likely to result
5 A2 a/ M) m9 b9 a% Yin higher borrowing costs and more rapid tightening of fiscal policy in some countries - an
( W8 ^1 |; O) X. W$ w/ `/ Himportant downside risk identified in the April Monetary Policy Report (MPR). Thus far, the3 ~* [( w) n+ p+ ~, u7 ]: ]# U
spillover into Canada from events in Europe has been limited to a modest fall in commodity
6 ]' |) k8 q; T+ F; \) Aprices and some tightening of financial conditions.
; }# }1 w1 K: n8 j4 A3 B5 ~% v# j1 m; f2 L4 h7 I! b
Activity in Canada is unfolding largely as expected. The economy grew by a robust 6.1 per cent
: O$ \- i# H; E4 V0 r! qin the first quarter, led by housing and consumer spending. Employment growth has resumed.3 r/ M' X% [0 m: `7 i, A/ {' x B+ W
Going forward, household spending is expected to decelerate to a pace more consistent with
/ ?# h& o$ p, g! @income growth. The anticipated pickup in business investment will be important for a more
7 C q- n" a+ u1 C. Gbalanced recovery.
7 Y: P; z; ?2 E3 F; E9 F4 `' C- l
6 H8 N; F& M' \' m8 iCPI inflation has been in line with the Bank's April projections. The outlook for inflation reflects H ?6 _) ~4 V$ W) }
the combined influences of strong domestic demand, slowing wage growth, and overall excess
/ S* W# ?3 b. N u- M( M: Qsupply.
, X1 F; p. Z4 Y
/ f% E. M3 U8 e" GIn this context, the Bank has decided to raise the target for the overnight rate to 1/2 per cent and- k$ _( g8 R" k
to re-establish the normal functioning of the overnight market. This decision still leaves considerable 7 ]0 H) Z) x s5 Y( O) F! k; X
monetary stimulus in place, consistent with achieving the 2 per cent inflation target in light of the
( a9 N P5 s- v3 E1 i3 gsignificant excess supply in Canada, the strength of domestic spending, and the uneven global recovery.+ [3 D4 C6 G) L. X2 C
; |! z- s- X8 m5 F7 uGiven the considerable uncertainty surrounding the outlook, any further reduction of monetary/ b) i2 c) E( d
stimulus would have to be weighed carefully against domestic and global economic7 y; N: q5 _9 Z% }$ K9 E$ ^
developments.& a2 p( ~ I( Q' U
. ?. c4 q+ f0 H3 B% ]Information note:1 F2 @3 @+ ] |8 A/ p1 Y6 b
The next scheduled date for announcing the overnight rate target is 20 July 2010. A full update# k. X p+ x! x }3 N! L7 ?
of the Bank's outlook for the economy and inflation, including risks to the projection, will be8 {" m9 T/ Q h- F) v/ q; k4 q
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！
