 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& O1 o1 Q+ M; F: A/ c R; f
+ X8 F2 Q+ `1 W( l; H" }1 p3 |
OTTAWA - The Bank of Canada today announced that it is raising its target for the overnight
3 C- z. t D( U+ }6 r0 S+ e( p; z2 Urate by one-quarter of one percentage point to 1/2 per cent. The Bank Rate is correspondingly
6 [, R* ~& i- @& V4 Nraised to 3/4 per cent and the deposit rate is kept at 1/4 per cent, thus re-establishing the normal
0 M: {8 q, b; Q9 Q5 z/ h# ?3 Hoperating band of 50 basis points for the overnight rate.
+ ^, w8 W/ D4 s- I7 Q5 M
" c* ?( y1 P0 hThe global economic recovery is proceeding but is increasingly uneven across countries, with
/ h# y4 N, j5 p5 O. W5 q Estrong momentum in emerging market economies, some consolidation of the recovery in the0 Q0 a; Y" A$ c# k1 K1 ~& k( E
United States, Japan and other industrialized economies, and the possibility of renewed weakness
9 D8 O( h4 u8 `in Europe. The required rebalancing of global growth has not yet materialized.& a0 C* G4 `, h# @
In most advanced economies, the recovery remains heavily dependent on monetary and fiscal6 b+ H$ N3 d1 h( \( ^0 ?
stimulus. In general, broad forces of household, bank, and sovereign deleveraging will add to the& S R( v2 \0 O- J1 i
variability, and temper the pace, of global growth. Recent tensions in Europe are likely to result E$ i+ V8 m7 U: u: n2 R
in higher borrowing costs and more rapid tightening of fiscal policy in some countries - an
# m. @* G. o% v& G* ]5 s8 _4 |; \ H" vimportant downside risk identified in the April Monetary Policy Report (MPR). Thus far, the+ j0 {% b; h& p `5 Y
spillover into Canada from events in Europe has been limited to a modest fall in commodity
2 K( T0 a/ C1 c2 ^+ Uprices and some tightening of financial conditions.4 P Q! M4 Y6 l6 y8 X
( X, u7 ?; U8 A7 {$ `Activity in Canada is unfolding largely as expected. The economy grew by a robust 6.1 per cent9 Y) _# T, ^! P2 ^/ r- d, g
in the first quarter, led by housing and consumer spending. Employment growth has resumed.
0 P: E1 n% S8 Q! W# \8 O H3 UGoing forward, household spending is expected to decelerate to a pace more consistent with+ T" n( g8 w" n. N
income growth. The anticipated pickup in business investment will be important for a more* g4 A+ ?1 o5 Y( ?7 q- ?
balanced recovery.1 k/ v! g% r, E. p' g
3 n( |, @" G8 y! [. F% Z ICPI inflation has been in line with the Bank's April projections. The outlook for inflation reflects9 h& Z z7 ? H
the combined influences of strong domestic demand, slowing wage growth, and overall excess
* H& E+ @6 ~& p* `7 f! U2 o9 p$ \supply.
* T: ]8 O$ d$ U3 _% f/ ^) D) y9 n6 ?" x7 w! v0 @
In this context, the Bank has decided to raise the target for the overnight rate to 1/2 per cent and
3 N! E/ E6 T8 I- p- zto re-establish the normal functioning of the overnight market. This decision still leaves considerable
3 k; p" T4 R9 N% V# b1 A! Omonetary stimulus in place, consistent with achieving the 2 per cent inflation target in light of the
" ~ Y ?* U( k( [( M6 V/ I& E8 M6 Ksignificant excess supply in Canada, the strength of domestic spending, and the uneven global recovery.
) h& ?9 z& H9 x1 G' m( N+ G3 P* M3 }
2 \& o8 |" u2 v# N/ sGiven the considerable uncertainty surrounding the outlook, any further reduction of monetary' a4 _/ w6 Q1 u
stimulus would have to be weighed carefully against domestic and global economic
3 R; v8 n" Z: _8 W- f; R* c1 ldevelopments.
& [8 Q8 P/ A' L) z( _. g; W3 P( G8 s( `5 y, ]1 a7 P F
Information note:7 }5 ?+ t" Y2 N, V! A ^# v
The next scheduled date for announcing the overnight rate target is 20 July 2010. A full update; h+ s* [) J) ^8 P, m5 r# T# b
of the Bank's outlook for the economy and inflation, including risks to the projection, will be
8 q- L# A M% \* b9 ^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！