 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 market8 r. J: Q$ G9 {+ }5 C8 Q- H
9 e7 ^" e( B5 C# A: G
OTTAWA - The Bank of Canada today announced that it is raising its target for the overnight1 H: O# p1 z) G, ?* d7 R$ L
rate by one-quarter of one percentage point to 1/2 per cent. The Bank Rate is correspondingly: `; q8 T0 z" y/ a6 F# J- ?: f+ N
raised to 3/4 per cent and the deposit rate is kept at 1/4 per cent, thus re-establishing the normal
2 s2 u! D- Q/ Z0 |3 [; zoperating band of 50 basis points for the overnight rate., ]: p4 \9 L/ h& G
& \+ s6 q" W2 X5 E
The global economic recovery is proceeding but is increasingly uneven across countries, with
9 k, z8 G" m1 g4 r$ F5 {# Kstrong momentum in emerging market economies, some consolidation of the recovery in the8 N2 N, G8 z" i" G
United States, Japan and other industrialized economies, and the possibility of renewed weakness* a- R1 }# y* [" E9 h: c$ a
in Europe. The required rebalancing of global growth has not yet materialized.- O# A! @, t" W9 t5 J' }, A
In most advanced economies, the recovery remains heavily dependent on monetary and fiscal, k9 a- X2 _/ T0 B
stimulus. In general, broad forces of household, bank, and sovereign deleveraging will add to the
# P' G. X! Q3 e6 b) gvariability, and temper the pace, of global growth. Recent tensions in Europe are likely to result
8 E% Y1 f0 B3 @in higher borrowing costs and more rapid tightening of fiscal policy in some countries - an
$ C5 S& H8 e3 {important downside risk identified in the April Monetary Policy Report (MPR). Thus far, the/ }) j( Z& U- G9 k7 t' H1 \$ H- t" W
spillover into Canada from events in Europe has been limited to a modest fall in commodity
' G- F r. e8 b: n- y* uprices and some tightening of financial conditions.- \0 N' P/ i; d. W a
6 @4 c, `6 \+ j* ]0 |" p1 Z
Activity in Canada is unfolding largely as expected. The economy grew by a robust 6.1 per cent
{$ K4 ^6 T( a- y* @7 N4 r3 nin the first quarter, led by housing and consumer spending. Employment growth has resumed.$ p9 T+ c2 H, W+ {& b
Going forward, household spending is expected to decelerate to a pace more consistent with/ K2 m1 `/ N% F/ ]6 e& z
income growth. The anticipated pickup in business investment will be important for a more2 n# s$ x* h8 l- |
balanced recovery.8 f1 X: l& [5 Q+ t: H/ }! X- f8 e2 j
n% E" p. b) _0 y+ F- H) }
CPI inflation has been in line with the Bank's April projections. The outlook for inflation reflects
1 p5 y% q7 x9 W. J; othe combined influences of strong domestic demand, slowing wage growth, and overall excess
( C8 F5 z% S4 P4 ^8 d( R3 Lsupply.
0 M6 S& o- r* w, X; O# ^3 g3 Z4 L) v& k# H+ ?0 r9 K2 i
In this context, the Bank has decided to raise the target for the overnight rate to 1/2 per cent and' p. ~7 r3 o( N) a% n" q3 Z
to re-establish the normal functioning of the overnight market. This decision still leaves considerable ( p& v: `$ X+ ?1 @) l; E1 h# ]
monetary stimulus in place, consistent with achieving the 2 per cent inflation target in light of the
3 f6 F, o: O9 L5 u, G" S/ @significant excess supply in Canada, the strength of domestic spending, and the uneven global recovery.
5 ^# r; k4 r; [4 g6 `% z; P" Q; s5 k
Given the considerable uncertainty surrounding the outlook, any further reduction of monetary" X& l8 w j- g# n# t% L' r
stimulus would have to be weighed carefully against domestic and global economic
1 e5 U4 {" k' q8 A+ gdevelopments.7 l! {, H9 i# _5 H) W! L
, Z8 L5 i' c5 Q
Information note:
6 U0 s2 j# c/ A3 L5 B9 u2 a) IThe next scheduled date for announcing the overnight rate target is 20 July 2010. A full update
: @6 ?: k$ b: {; T. Cof the Bank's outlook for the economy and inflation, including risks to the projection, will be
4 S" P) k2 N1 @" Z5 k7 xpublished 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！
