 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 market2 W1 |5 l2 C3 h) R* X* [
. ~1 g+ e4 U' Y+ nOTTAWA - The Bank of Canada today announced that it is raising its target for the overnight
! s( q8 o7 f3 ~# d' zrate by one-quarter of one percentage point to 1/2 per cent. The Bank Rate is correspondingly
; U1 c/ V4 d, W1 l# draised to 3/4 per cent and the deposit rate is kept at 1/4 per cent, thus re-establishing the normal5 Y; {: G$ h4 w& g8 |! D) l* d
operating band of 50 basis points for the overnight rate.+ N% p5 k% B' l9 t+ T2 L% v/ C
! Y+ Z4 ]/ |( x5 _
The global economic recovery is proceeding but is increasingly uneven across countries, with \) J+ D5 R8 x! }' @+ ]
strong momentum in emerging market economies, some consolidation of the recovery in the
3 }" I6 x2 n3 L4 w% N, CUnited States, Japan and other industrialized economies, and the possibility of renewed weakness
5 T' x1 O* _0 q, q8 p: e2 S' Gin Europe. The required rebalancing of global growth has not yet materialized." k* y% { j% s5 E' q% d
In most advanced economies, the recovery remains heavily dependent on monetary and fiscal0 }! |" o1 k7 g, w
stimulus. In general, broad forces of household, bank, and sovereign deleveraging will add to the
: t$ z! r* I# P* ~1 v- ?( }6 h( Bvariability, and temper the pace, of global growth. Recent tensions in Europe are likely to result
: F% B) h O5 |6 G+ D' |in higher borrowing costs and more rapid tightening of fiscal policy in some countries - an
: t. n4 p% _. U. G' iimportant downside risk identified in the April Monetary Policy Report (MPR). Thus far, the8 A, G5 B0 o$ u- @# ^2 U
spillover into Canada from events in Europe has been limited to a modest fall in commodity+ C! A$ S5 ^5 P$ G
prices and some tightening of financial conditions.
5 D) P4 Y' p$ d$ S7 N3 h. l. B& S/ Z6 ^4 K+ s
Activity in Canada is unfolding largely as expected. The economy grew by a robust 6.1 per cent
5 s( T+ [6 n) p, n3 Pin the first quarter, led by housing and consumer spending. Employment growth has resumed.
5 J0 d" J# U& rGoing forward, household spending is expected to decelerate to a pace more consistent with
! x1 _; q) @! a" J. m# A$ Aincome growth. The anticipated pickup in business investment will be important for a more% U6 H. a$ K9 x8 q2 ` j
balanced recovery.
9 O$ @% W) c8 W' x
& @3 B! I1 ~5 R9 eCPI inflation has been in line with the Bank's April projections. The outlook for inflation reflects1 ]+ r" o! z9 Q3 y* }# H
the combined influences of strong domestic demand, slowing wage growth, and overall excess
1 M. R1 `6 z5 L/ y, |supply.
/ j# Y5 g7 I- x% T; C& {3 ^- g) V% g/ X7 O
In this context, the Bank has decided to raise the target for the overnight rate to 1/2 per cent and& Z- Z& H7 H( Z2 d2 d
to re-establish the normal functioning of the overnight market. This decision still leaves considerable
' Z s9 A0 g- f3 kmonetary stimulus in place, consistent with achieving the 2 per cent inflation target in light of the U' u7 O6 V% |" e: n- \- H% K( g
significant excess supply in Canada, the strength of domestic spending, and the uneven global recovery.
6 Z! X4 K2 B3 ^1 a: t; c: K! g$ k/ w9 m
Given the considerable uncertainty surrounding the outlook, any further reduction of monetary
# Y- H* Q$ U: T1 F5 c; [9 ]' vstimulus would have to be weighed carefully against domestic and global economic% \% O- ^* ]+ x& X* a
developments.
$ M- H$ D2 Y; c( M1 G( m6 J2 Q8 x2 N- z$ k& n; v8 p# [
Information note:
\* i* }, w2 w. b2 `: W4 u, a6 I W5 gThe next scheduled date for announcing the overnight rate target is 20 July 2010. A full update8 T- E [0 n4 f; z# }3 n4 ~
of the Bank's outlook for the economy and inflation, including risks to the projection, will be
; Q& O u) }/ X% K6 wpublished 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！