 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 market, y0 i5 I9 P' }$ _6 {
4 b' i; u6 c0 @4 \OTTAWA - The Bank of Canada today announced that it is raising its target for the overnight5 f2 c( m d N2 _8 S5 X
rate by one-quarter of one percentage point to 1/2 per cent. The Bank Rate is correspondingly; K' _! t9 _& N" W2 S' x! U! q
raised to 3/4 per cent and the deposit rate is kept at 1/4 per cent, thus re-establishing the normal
" p; A8 i1 j$ Hoperating band of 50 basis points for the overnight rate.
5 {: j! m3 w _+ }
# C- c- w- m6 L# A, `( D; i/ h; wThe global economic recovery is proceeding but is increasingly uneven across countries, with
6 T) J& H' C% }' ?+ Rstrong momentum in emerging market economies, some consolidation of the recovery in the. ^* z5 R) {. F
United States, Japan and other industrialized economies, and the possibility of renewed weakness# W5 J, d6 C e& K- z& t4 p
in Europe. The required rebalancing of global growth has not yet materialized.
* J% K% m5 |) {3 s& BIn most advanced economies, the recovery remains heavily dependent on monetary and fiscal# B1 w) r! }! I# P4 V
stimulus. In general, broad forces of household, bank, and sovereign deleveraging will add to the+ M/ H9 ]0 u$ B7 D% f
variability, and temper the pace, of global growth. Recent tensions in Europe are likely to result3 K/ ~! Q7 H, ?1 r3 @0 C' |& e
in higher borrowing costs and more rapid tightening of fiscal policy in some countries - an
7 l5 M7 i, w. z. k" o! {important downside risk identified in the April Monetary Policy Report (MPR). Thus far, the5 z0 G0 |* Q$ F( R
spillover into Canada from events in Europe has been limited to a modest fall in commodity
0 B. b* A$ x5 L6 Wprices and some tightening of financial conditions., e C3 y' {+ ]/ @9 B' [8 [
+ W# s8 ^% n, b+ G% H! gActivity in Canada is unfolding largely as expected. The economy grew by a robust 6.1 per cent4 I* \7 H5 G; G% C: D; Q
in the first quarter, led by housing and consumer spending. Employment growth has resumed.
+ {! U, o$ z; O$ yGoing forward, household spending is expected to decelerate to a pace more consistent with
/ g U! N4 I% \5 E$ j5 Z% ~8 j+ V1 r3 Qincome growth. The anticipated pickup in business investment will be important for a more; D! z; w. d, \, h' [/ E/ I
balanced recovery.- m( M9 _# T) T/ j
+ g" l$ n l G' {8 M+ ICPI inflation has been in line with the Bank's April projections. The outlook for inflation reflects
0 @; y/ N% o3 b' U( d/ Bthe combined influences of strong domestic demand, slowing wage growth, and overall excess6 i* M1 N8 ^6 p( e
supply." E/ L0 Q: ]. S0 T
8 M$ d+ G: E) aIn this context, the Bank has decided to raise the target for the overnight rate to 1/2 per cent and
3 @6 k6 A4 K4 `3 g' K2 O2 i1 I9 Pto re-establish the normal functioning of the overnight market. This decision still leaves considerable " v) s0 q0 o( ?2 d* P1 E
monetary stimulus in place, consistent with achieving the 2 per cent inflation target in light of the , J5 b9 I- S: G
significant excess supply in Canada, the strength of domestic spending, and the uneven global recovery.
8 B, A7 r3 I* f0 }$ W# G1 G) Q P; N5 h3 G' [
Given the considerable uncertainty surrounding the outlook, any further reduction of monetary2 q$ u Z% [4 ~1 x
stimulus would have to be weighed carefully against domestic and global economic: _# t4 o3 @6 h( E
developments.
( _0 k7 `% q6 c) f3 W9 H/ z. _* H4 ]. T2 r( ] @
Information note:
, w( |5 K! O9 ^2 wThe next scheduled date for announcing the overnight rate target is 20 July 2010. A full update( h- ~( i1 h' w1 V! F
of the Bank's outlook for the economy and inflation, including risks to the projection, will be
) l% |2 C6 ~" d" D; q. A( x0 epublished 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！