 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' q9 q/ n) E B# F% ~6 u5 C$ l8 \) M
: H# B# \( [" s& b* c+ G+ u1 O7 Z
OTTAWA - The Bank of Canada today announced that it is raising its target for the overnight
/ |/ T# P* h. E( Irate by one-quarter of one percentage point to 1/2 per cent. The Bank Rate is correspondingly/ C# U( F; [5 e/ X
raised to 3/4 per cent and the deposit rate is kept at 1/4 per cent, thus re-establishing the normal
1 Y0 Y4 s, y1 O3 ?* T! K, U8 toperating band of 50 basis points for the overnight rate.
$ C/ {3 R" \2 R# V3 z. ~! x3 s; z4 i$ s2 L2 u
The global economic recovery is proceeding but is increasingly uneven across countries, with4 N8 H" N6 X7 G, E% h. g
strong momentum in emerging market economies, some consolidation of the recovery in the
# x, _0 n8 J4 b/ x# s- ?+ q" e' \/ e9 NUnited States, Japan and other industrialized economies, and the possibility of renewed weakness# L7 r) _( |8 D) l8 M' | u) G. J _
in Europe. The required rebalancing of global growth has not yet materialized.3 ?, d3 c3 ?6 L; G
In most advanced economies, the recovery remains heavily dependent on monetary and fiscal
! r2 d' d+ f/ d* P5 I" q! @. p8 Zstimulus. In general, broad forces of household, bank, and sovereign deleveraging will add to the
& z/ j i9 J& A. c) L& Q! [variability, and temper the pace, of global growth. Recent tensions in Europe are likely to result
2 M: _0 W& t9 W: N% x F0 E" oin higher borrowing costs and more rapid tightening of fiscal policy in some countries - an
* w. Z1 @9 u" W \; `important downside risk identified in the April Monetary Policy Report (MPR). Thus far, the
# [, R$ [+ I1 \, d# z6 D3 K' Ospillover into Canada from events in Europe has been limited to a modest fall in commodity4 m+ f# P- O1 N. f5 z8 p' k
prices and some tightening of financial conditions.7 B+ B9 o* j& i2 l' s( Y
( G# F+ _, L2 H, lActivity in Canada is unfolding largely as expected. The economy grew by a robust 6.1 per cent; S: u$ F7 p- Y( ~" @
in the first quarter, led by housing and consumer spending. Employment growth has resumed.% b' T8 g8 N* E4 m" J
Going forward, household spending is expected to decelerate to a pace more consistent with
; h. o* V7 m6 }income growth. The anticipated pickup in business investment will be important for a more
1 m& [% @' ^& |5 c( y1 Cbalanced recovery.3 c, I6 e' j/ i6 m0 V
+ k6 n' U( J5 w5 Q5 xCPI inflation has been in line with the Bank's April projections. The outlook for inflation reflects
- B. h" y0 o. \, q% h2 q% ]! Bthe combined influences of strong domestic demand, slowing wage growth, and overall excess" v& E) i6 J, I' k; K) f6 b& r
supply.( d: h) N- d! c9 m4 V" {
5 v5 ]+ Z- }0 V, q( x$ B$ j. U' L
In this context, the Bank has decided to raise the target for the overnight rate to 1/2 per cent and
1 l, ?, T. w, q/ V4 d5 ?( H& n1 ?to re-establish the normal functioning of the overnight market. This decision still leaves considerable
, D% z. n( y* Y1 W( gmonetary stimulus in place, consistent with achieving the 2 per cent inflation target in light of the . }! N$ F4 v& ?) ]4 b8 U
significant excess supply in Canada, the strength of domestic spending, and the uneven global recovery.
5 Y3 I `( h2 Y8 x3 s5 ~1 b# ^( m5 P3 i2 \
Given the considerable uncertainty surrounding the outlook, any further reduction of monetary* W) m! f$ W9 c0 X6 Q4 ]' l
stimulus would have to be weighed carefully against domestic and global economic
( Q2 I# b4 z$ |8 J8 wdevelopments.
/ @- f, C O! X: B0 z6 T' M( l; Q1 l. H8 ^) R' Z$ b' H ]
Information note:4 ]) D2 M! a. P* y p" G
The next scheduled date for announcing the overnight rate target is 20 July 2010. A full update
; I, N( w8 w4 n" ]2 m) U" F' fof the Bank's outlook for the economy and inflation, including risks to the projection, will be
* \ {# i' P- ~+ u% ^% N8 Gpublished 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！