 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* x) G- j, |$ I7 c7 @' n
, t8 J1 r( M4 x3 R0 _7 D# z3 @! mOTTAWA - The Bank of Canada today announced that it is raising its target for the overnight
3 V/ [2 ^" A y- g4 _% Q# q& Lrate by one-quarter of one percentage point to 1/2 per cent. The Bank Rate is correspondingly
$ ] N( k/ h. U: t0 J1 n1 O( e4 traised to 3/4 per cent and the deposit rate is kept at 1/4 per cent, thus re-establishing the normal7 E% t; J: V/ F# A
operating band of 50 basis points for the overnight rate.
1 T5 Y8 {2 j- U# E* c n: e
; J( u- D6 B" w/ CThe global economic recovery is proceeding but is increasingly uneven across countries, with0 K) u& B" q, y4 f$ ~: B
strong momentum in emerging market economies, some consolidation of the recovery in the
! b5 n* q% @, X- b6 y- F$ rUnited States, Japan and other industrialized economies, and the possibility of renewed weakness. ~4 s; I6 s/ | I7 E
in Europe. The required rebalancing of global growth has not yet materialized.
" z7 k9 b& U) U- k/ Z& j5 k+ b4 wIn most advanced economies, the recovery remains heavily dependent on monetary and fiscal
# m- L0 u1 f4 ]$ `" w* \5 {stimulus. In general, broad forces of household, bank, and sovereign deleveraging will add to the
9 \# b# a; u" Z1 `variability, and temper the pace, of global growth. Recent tensions in Europe are likely to result3 u6 m7 T1 I4 K# k" \
in higher borrowing costs and more rapid tightening of fiscal policy in some countries - an
1 B; @) m6 G k5 s& ~* pimportant downside risk identified in the April Monetary Policy Report (MPR). Thus far, the
6 x: r. _3 b. L/ y0 X; jspillover into Canada from events in Europe has been limited to a modest fall in commodity' @4 }: ~7 W4 x; t& p: K
prices and some tightening of financial conditions.6 J. k3 \. z- M- e+ s7 y' `' m
: ?+ k7 h& Z' h( [4 c
Activity in Canada is unfolding largely as expected. The economy grew by a robust 6.1 per cent) u5 y/ y# W) b
in the first quarter, led by housing and consumer spending. Employment growth has resumed.
+ r. J' X, M0 P5 G$ U) pGoing forward, household spending is expected to decelerate to a pace more consistent with! S/ s& R. Z4 Q3 F* i! [
income growth. The anticipated pickup in business investment will be important for a more# @" R" u6 k) w. d9 y3 ~
balanced recovery.& ~6 I: Y' H. o: q8 U
! k% V& s3 j8 ]. Y( i' c. NCPI inflation has been in line with the Bank's April projections. The outlook for inflation reflects9 W c+ N. ]5 A3 _
the combined influences of strong domestic demand, slowing wage growth, and overall excess
7 M+ F* D4 c0 x6 C% fsupply.
2 u6 g9 x4 ^, V9 i: _ v3 J; p4 G I; P$ {' h/ T+ C
In this context, the Bank has decided to raise the target for the overnight rate to 1/2 per cent and
. P& M% E2 a0 gto re-establish the normal functioning of the overnight market. This decision still leaves considerable 3 P9 R2 }/ L/ ?9 Q
monetary stimulus in place, consistent with achieving the 2 per cent inflation target in light of the 2 r& j/ ~9 `9 B- C2 W. r6 O' ]& }0 y
significant excess supply in Canada, the strength of domestic spending, and the uneven global recovery.' R" I# f* I9 `$ P
2 ^# O6 l% b4 i' {) GGiven the considerable uncertainty surrounding the outlook, any further reduction of monetary
% B4 v' z& R( G+ rstimulus would have to be weighed carefully against domestic and global economic
5 h5 U/ N6 `% Adevelopments.
% v7 {3 x4 {# m2 k' g% K; |0 B0 S+ u1 _* {# Z/ u9 O9 \
Information note:
; _( k# ~3 R( M# s- T! _% SThe next scheduled date for announcing the overnight rate target is 20 July 2010. A full update
) p: Z8 }) T4 K: X# E! G0 s6 yof the Bank's outlook for the economy and inflation, including risks to the projection, will be5 Y+ }9 h2 x4 Y, k
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！