 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) _: W4 M w& ~, T2 [- c$ X
; B, M- b9 U# J7 y& `# s7 z: I) y( xOTTAWA - The Bank of Canada today announced that it is raising its target for the overnight
3 b1 c( ?) _( Q& ~rate by one-quarter of one percentage point to 1/2 per cent. The Bank Rate is correspondingly) C2 d/ I! F7 I
raised to 3/4 per cent and the deposit rate is kept at 1/4 per cent, thus re-establishing the normal
0 n$ R3 u: p8 N/ J* |operating band of 50 basis points for the overnight rate.
; T* I+ _, n+ Y( U8 E, \; v: @ L$ U9 j* s$ q o
The global economic recovery is proceeding but is increasingly uneven across countries, with
, ?1 Z- M' c7 A( b0 j4 G# @! q) Istrong momentum in emerging market economies, some consolidation of the recovery in the, M8 \/ ~+ C' X7 `4 i6 C) Y
United States, Japan and other industrialized economies, and the possibility of renewed weakness
3 I6 a* V! f- W, z1 s: E0 d# kin Europe. The required rebalancing of global growth has not yet materialized.$ h4 X7 n* c. K& I! v6 g
In most advanced economies, the recovery remains heavily dependent on monetary and fiscal
+ d# ^/ \. l U+ q* j! J! Gstimulus. In general, broad forces of household, bank, and sovereign deleveraging will add to the& ]5 _' V+ r* k' n- Y( v0 t; H3 M0 L# v
variability, and temper the pace, of global growth. Recent tensions in Europe are likely to result! m5 Y% ]5 e& D# H$ O5 @% Q7 z9 U. O
in higher borrowing costs and more rapid tightening of fiscal policy in some countries - an
9 H- `1 o n) ]5 T* s5 qimportant downside risk identified in the April Monetary Policy Report (MPR). Thus far, the" K9 Q2 Z8 v3 p! p
spillover into Canada from events in Europe has been limited to a modest fall in commodity
6 f* D" r7 N0 p& k& h1 `prices and some tightening of financial conditions.
- J3 d# a$ n; C/ w A R9 P/ }- @( I0 a8 b
Activity in Canada is unfolding largely as expected. The economy grew by a robust 6.1 per cent
# \& }2 v/ a$ b2 J1 Uin the first quarter, led by housing and consumer spending. Employment growth has resumed.6 Q% @; j- f T8 @9 v% {5 N8 b/ G
Going forward, household spending is expected to decelerate to a pace more consistent with" d9 {: k$ a/ x! J2 j3 ]4 z
income growth. The anticipated pickup in business investment will be important for a more
) t+ Q4 v7 m }. Ebalanced recovery.
+ \6 g1 ?7 r0 U/ ^9 _
0 s8 p0 f% j, z. z2 v7 x0 g X2 XCPI inflation has been in line with the Bank's April projections. The outlook for inflation reflects$ t/ ~5 g/ v4 {; n
the combined influences of strong domestic demand, slowing wage growth, and overall excess; u3 ]" N9 ^# _1 j4 I* Y- }) _
supply.
! R3 p3 ]" @% {# T5 X4 D7 A: h2 t! V" I: [7 T. c1 F
In this context, the Bank has decided to raise the target for the overnight rate to 1/2 per cent and# q! `; A( R% e) }7 f4 c. R
to re-establish the normal functioning of the overnight market. This decision still leaves considerable
9 A- d' A& O: k2 lmonetary stimulus in place, consistent with achieving the 2 per cent inflation target in light of the
+ O+ A/ k! k2 X/ f% H" ~significant excess supply in Canada, the strength of domestic spending, and the uneven global recovery.% K, R: r* C$ k$ _1 [
6 K) a) _0 {8 o3 |( z* c/ q( n n- {Given the considerable uncertainty surrounding the outlook, any further reduction of monetary' v y$ B; I6 Y1 O: ~0 k$ @- V7 I; y& ?
stimulus would have to be weighed carefully against domestic and global economic) a& V( A( I) Y3 p: {( ^- T. {
developments.
; a, T1 c/ B, ?( {9 g! k3 p$ z
- f' _4 J m) x$ H6 ~Information note:* b; R% o6 ^* T: K
The next scheduled date for announcing the overnight rate target is 20 July 2010. A full update: O3 c1 v w" I+ ~* ^, f" i
of the Bank's outlook for the economy and inflation, including risks to the projection, will be8 k1 o6 z$ N s9 v% f @0 D
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！