 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. X6 X; b8 D/ p( c8 m
/ v4 d$ d0 v! O9 h2 n* ]
OTTAWA - The Bank of Canada today announced that it is raising its target for the overnight
# C$ f* D( {4 M, W+ u0 B" t2 drate by one-quarter of one percentage point to 1/2 per cent. The Bank Rate is correspondingly8 m/ d a% \' s9 E& X) s0 C8 y" n
raised to 3/4 per cent and the deposit rate is kept at 1/4 per cent, thus re-establishing the normal
# h/ k( \; y0 ^operating band of 50 basis points for the overnight rate.
9 | l5 q! h' |" Q6 T r
9 f ^& H8 I5 U+ O1 C# Y. _9 iThe global economic recovery is proceeding but is increasingly uneven across countries, with
, R; D, _/ M. [$ Jstrong momentum in emerging market economies, some consolidation of the recovery in the0 X& P. r+ _* F; ^/ B" e4 w
United States, Japan and other industrialized economies, and the possibility of renewed weakness' f7 N8 Q# |, E
in Europe. The required rebalancing of global growth has not yet materialized.
- }2 U0 ~0 i3 BIn most advanced economies, the recovery remains heavily dependent on monetary and fiscal
4 A9 F) ~7 d2 jstimulus. In general, broad forces of household, bank, and sovereign deleveraging will add to the
8 O2 I% f7 s8 n5 [6 {2 }) a( Fvariability, and temper the pace, of global growth. Recent tensions in Europe are likely to result
- M4 c6 z5 N( w' p% Q. e# Gin higher borrowing costs and more rapid tightening of fiscal policy in some countries - an
e c9 y9 s9 H/ g ]5 ~6 qimportant downside risk identified in the April Monetary Policy Report (MPR). Thus far, the
8 k1 K* F: P. v% n$ l) Yspillover into Canada from events in Europe has been limited to a modest fall in commodity. L. C0 ~* }+ B0 e- X2 a/ o: w
prices and some tightening of financial conditions.7 B# x. T# c/ Q9 g5 L
! S* T4 q; T) S& zActivity in Canada is unfolding largely as expected. The economy grew by a robust 6.1 per cent+ I6 t) u6 ^+ z% I
in the first quarter, led by housing and consumer spending. Employment growth has resumed.
9 @- _+ ]! Q @0 }) L) HGoing forward, household spending is expected to decelerate to a pace more consistent with+ ]. \0 b \7 H3 m( n/ @5 T" G* g
income growth. The anticipated pickup in business investment will be important for a more1 q1 M! w5 N1 x0 i4 }. J
balanced recovery.* v1 Y5 j# e. y& P R/ f0 f5 s% A3 j
5 u E' s1 v' v( ]3 S# TCPI inflation has been in line with the Bank's April projections. The outlook for inflation reflects
; Y7 V _* ?" p0 M. g/ O, K7 Kthe combined influences of strong domestic demand, slowing wage growth, and overall excess, {! O. S2 d; B
supply.
D, Q1 P3 K. U/ X: g& F6 E' n
In this context, the Bank has decided to raise the target for the overnight rate to 1/2 per cent and( w: C: s: m W
to re-establish the normal functioning of the overnight market. This decision still leaves considerable
! g- B0 w& O9 |# n$ m9 e3 n! ~monetary stimulus in place, consistent with achieving the 2 per cent inflation target in light of the 3 h5 G4 S2 B# X7 ~' x
significant excess supply in Canada, the strength of domestic spending, and the uneven global recovery.
6 j" P, C Y$ ]" d6 g7 l3 S% O ^. s; l+ a. N" j. D' u3 H
Given the considerable uncertainty surrounding the outlook, any further reduction of monetary
% C' {# g: f0 @( h9 Fstimulus would have to be weighed carefully against domestic and global economic6 J; v3 @' _8 G+ I2 E8 S
developments.
. d$ j5 d( b9 z! c1 Z! ]; Z8 V
2 W# i1 P4 q" C4 J$ l2 ]Information note:
1 A, D/ Z: r2 s" CThe next scheduled date for announcing the overnight rate target is 20 July 2010. A full update4 I/ J9 E* @% X- Z: G& G! y( V
of the Bank's outlook for the economy and inflation, including risks to the projection, will be
& o' w6 d% P; o$ 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！