 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 C K! ~ [8 W
; z% b/ K2 c; H9 S8 ~OTTAWA - The Bank of Canada today announced that it is raising its target for the overnight
. d6 v7 X/ |! \! ]% w d2 M) x! xrate by one-quarter of one percentage point to 1/2 per cent. The Bank Rate is correspondingly
$ f: K X: X/ t2 r, o2 uraised to 3/4 per cent and the deposit rate is kept at 1/4 per cent, thus re-establishing the normal
$ f4 w0 z* s8 M7 ~) Xoperating band of 50 basis points for the overnight rate./ S; c p) c6 y. w$ h: i
% v0 e' s! Y# ]1 n( q! J' RThe global economic recovery is proceeding but is increasingly uneven across countries, with
/ ?% B! {) \& } F. c$ t$ U# |strong momentum in emerging market economies, some consolidation of the recovery in the
2 H/ Y4 v( R' Y1 \# l/ }1 u2 VUnited States, Japan and other industrialized economies, and the possibility of renewed weakness# I5 B) W- s$ F3 H& ? s8 Q d
in Europe. The required rebalancing of global growth has not yet materialized.
5 Y! i6 l$ K/ nIn most advanced economies, the recovery remains heavily dependent on monetary and fiscal/ M: ~9 V2 c! x( T
stimulus. In general, broad forces of household, bank, and sovereign deleveraging will add to the
* l( g3 E. {7 F5 Pvariability, and temper the pace, of global growth. Recent tensions in Europe are likely to result
+ M" a) P! K, v3 ?in higher borrowing costs and more rapid tightening of fiscal policy in some countries - an* P+ w8 B7 n* d6 y0 j+ }
important downside risk identified in the April Monetary Policy Report (MPR). Thus far, the4 y, M, x% T. H
spillover into Canada from events in Europe has been limited to a modest fall in commodity
* \- u4 `1 g4 z. A7 s- I iprices and some tightening of financial conditions.
- V2 Q- X0 {0 n; A/ P
2 }/ ?" {8 \5 J9 J/ uActivity in Canada is unfolding largely as expected. The economy grew by a robust 6.1 per cent' p/ `% E6 k6 ]% u
in the first quarter, led by housing and consumer spending. Employment growth has resumed.
$ A. Q7 ^, D MGoing forward, household spending is expected to decelerate to a pace more consistent with5 ?; ]6 [ k+ f0 S& V* A
income growth. The anticipated pickup in business investment will be important for a more
* X* d7 p% {! Tbalanced recovery.
) b9 V3 t, z0 z" Z2 @; t! G
: P3 M) R2 t) x+ G vCPI inflation has been in line with the Bank's April projections. The outlook for inflation reflects
& Z# \" G9 A7 g' ^% Bthe combined influences of strong domestic demand, slowing wage growth, and overall excess
$ H4 z9 p6 d! s% [! R6 F3 T* Ksupply.
6 a' M, K( s' Q8 N- w+ C- e0 {
In this context, the Bank has decided to raise the target for the overnight rate to 1/2 per cent and
2 K( Q6 |, x4 R6 u2 Vto re-establish the normal functioning of the overnight market. This decision still leaves considerable
6 Y/ h# ^, r' s3 t( [" O: Amonetary stimulus in place, consistent with achieving the 2 per cent inflation target in light of the . q+ U9 |' i; t
significant excess supply in Canada, the strength of domestic spending, and the uneven global recovery.
9 }" o# W0 T& o7 a' _0 S* N$ i4 W8 { w( F% @, P7 f% \3 Q4 J3 Z8 ]
Given the considerable uncertainty surrounding the outlook, any further reduction of monetary
7 D" f5 u7 L, B+ H4 Wstimulus would have to be weighed carefully against domestic and global economic
9 q, @, e: ^/ J4 Z- D4 f/ qdevelopments.( m& q5 O3 g9 m
- E6 ^ W( }, j6 i6 nInformation note:3 p% _6 Z# ?' Y
The next scheduled date for announcing the overnight rate target is 20 July 2010. A full update2 b7 z8 H: l- }- d4 C
of the Bank's outlook for the economy and inflation, including risks to the projection, will be C, M7 m* a7 e8 e5 i! M( a
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！