 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/ K; `4 X2 `4 X
5 G$ O3 ]2 e% C$ YOTTAWA - The Bank of Canada today announced that it is raising its target for the overnight7 a' n }5 H9 h6 f
rate by one-quarter of one percentage point to 1/2 per cent. The Bank Rate is correspondingly
- z; {0 K. i0 A" i) | q/ G4 |1 Craised to 3/4 per cent and the deposit rate is kept at 1/4 per cent, thus re-establishing the normal0 Q9 t) v5 M" ~! X# w* x4 E
operating band of 50 basis points for the overnight rate.% ]7 B7 q, H8 D$ ~# H: s! f9 `% G
8 v; [- i5 L. T% d, P7 W4 y2 C
The global economic recovery is proceeding but is increasingly uneven across countries, with S0 t6 N2 h( f, _1 d+ c9 b
strong momentum in emerging market economies, some consolidation of the recovery in the
% i( `9 y6 D; O" _- i) vUnited States, Japan and other industrialized economies, and the possibility of renewed weakness
- v" } Y" }+ P; Sin Europe. The required rebalancing of global growth has not yet materialized.* ^1 \3 y' O# v
In most advanced economies, the recovery remains heavily dependent on monetary and fiscal
1 q0 x& M" q7 A" w1 X+ m1 F2 h+ Mstimulus. In general, broad forces of household, bank, and sovereign deleveraging will add to the Y0 A: y2 F L( }" ?
variability, and temper the pace, of global growth. Recent tensions in Europe are likely to result
& j Z' v/ r1 a3 z. G) Hin higher borrowing costs and more rapid tightening of fiscal policy in some countries - an4 {& Z& ?$ ?% N+ j( {
important downside risk identified in the April Monetary Policy Report (MPR). Thus far, the/ r+ O! |* h- [3 c6 r
spillover into Canada from events in Europe has been limited to a modest fall in commodity+ U5 c$ u9 S! y! D- O
prices and some tightening of financial conditions.8 j9 H, s7 h/ z
6 X+ W' p; ]4 A" a: W$ v% @$ VActivity in Canada is unfolding largely as expected. The economy grew by a robust 6.1 per cent% }0 m; B* O$ W8 @9 u
in the first quarter, led by housing and consumer spending. Employment growth has resumed.
( E' R6 w% z2 u0 h2 tGoing forward, household spending is expected to decelerate to a pace more consistent with& f1 ]0 g4 [3 l$ z& ?# ?
income growth. The anticipated pickup in business investment will be important for a more
" u. U. K% m2 |! {( q0 N& U- J' kbalanced recovery.3 K8 p# P% I+ h' H W
$ c' Z' ]$ J0 R2 ]3 x. Q
CPI inflation has been in line with the Bank's April projections. The outlook for inflation reflects9 l# V, m, j3 k2 {' y, x
the combined influences of strong domestic demand, slowing wage growth, and overall excess
+ `3 `& n: J: X8 ?0 I2 n9 ksupply.: B5 z+ V- w" L9 M& L" L. ^
! `6 c2 ]; U" Q8 U% O# v
In this context, the Bank has decided to raise the target for the overnight rate to 1/2 per cent and* ~! U+ p+ o$ _* }# } P! f' d
to re-establish the normal functioning of the overnight market. This decision still leaves considerable
+ p8 P' y4 S" J l* s( K6 tmonetary stimulus in place, consistent with achieving the 2 per cent inflation target in light of the % Z; A5 z$ e) I5 q* I; X: m
significant excess supply in Canada, the strength of domestic spending, and the uneven global recovery.
5 _+ [8 X9 T% G" r1 {( Y/ P! e
" q$ ^) s3 u# [ _1 LGiven the considerable uncertainty surrounding the outlook, any further reduction of monetary; B/ I6 o: c- M' j5 K2 f
stimulus would have to be weighed carefully against domestic and global economic
7 B# H! _ J, H! l7 D. r7 qdevelopments.( `$ l# W$ z4 Y# [/ x
1 f' F3 ^- `5 Z/ M7 x
Information note:9 N0 V* W5 ` t, i
The next scheduled date for announcing the overnight rate target is 20 July 2010. A full update
2 T! U: _0 x; Y% }9 Zof the Bank's outlook for the economy and inflation, including risks to the projection, will be
3 G( L# G v( ^8 G* \2 [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！