 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/ Q8 E4 S7 R8 W) j+ Y7 b& E7 _2 @
* S: q+ H! o2 o4 a9 ^
OTTAWA - The Bank of Canada today announced that it is raising its target for the overnight( Z' a; w$ v# Z$ f! _
rate by one-quarter of one percentage point to 1/2 per cent. The Bank Rate is correspondingly* X& ^7 \/ a+ v: U% a
raised to 3/4 per cent and the deposit rate is kept at 1/4 per cent, thus re-establishing the normal
`4 Z% u% G4 A3 e' Woperating band of 50 basis points for the overnight rate.
; x4 ]! p( O1 p- w' g
. u9 W6 ?. q: ~) O" L+ |& H& M; wThe global economic recovery is proceeding but is increasingly uneven across countries, with
7 C/ {# J! A7 E; K* Ostrong momentum in emerging market economies, some consolidation of the recovery in the5 g$ Y* f2 y4 S/ z5 c( F2 G/ S
United States, Japan and other industrialized economies, and the possibility of renewed weakness
7 \4 f" R% L# L+ \0 j' k) Kin Europe. The required rebalancing of global growth has not yet materialized.
) r% q9 ~" v* F) QIn most advanced economies, the recovery remains heavily dependent on monetary and fiscal
! x- D; S, S8 K9 w8 W7 ` e8 D# \stimulus. In general, broad forces of household, bank, and sovereign deleveraging will add to the
4 E* ?4 ?* t; P. y0 n8 [1 Kvariability, and temper the pace, of global growth. Recent tensions in Europe are likely to result
$ Q" G9 U; ]. W" k: X2 ?' min higher borrowing costs and more rapid tightening of fiscal policy in some countries - an7 M- n3 \6 C# T; \- T" e
important downside risk identified in the April Monetary Policy Report (MPR). Thus far, the( h# N, w: T9 l0 R3 H- e$ _
spillover into Canada from events in Europe has been limited to a modest fall in commodity0 S/ o |$ L# n% C) d l# g. S3 T% U0 g9 b
prices and some tightening of financial conditions.
& W/ }( g& f8 G. l' I& y- Z) _4 u4 `! u
Activity in Canada is unfolding largely as expected. The economy grew by a robust 6.1 per cent
4 n6 v- j. _; c; R# ?; U8 f1 [in the first quarter, led by housing and consumer spending. Employment growth has resumed.
+ w8 K) a# w9 W8 J9 f8 U/ mGoing forward, household spending is expected to decelerate to a pace more consistent with
1 o) \. N4 K$ J) {/ \3 Y: n. z$ bincome growth. The anticipated pickup in business investment will be important for a more( J% W* M: M' z& w
balanced recovery.
0 t3 _4 N1 N6 E4 h1 N& V M9 m0 |4 @; V4 h4 H/ T
CPI inflation has been in line with the Bank's April projections. The outlook for inflation reflects
9 o: n" `# o9 F% i4 R; `, _the combined influences of strong domestic demand, slowing wage growth, and overall excess2 T$ x9 E8 F) h; N- d
supply.2 g6 J4 U2 N, W4 u
2 s, E" G# J( C1 G) L
In this context, the Bank has decided to raise the target for the overnight rate to 1/2 per cent and
: L7 e6 s, o. F5 u) B& |6 j* v" C+ eto re-establish the normal functioning of the overnight market. This decision still leaves considerable
, O, {0 M3 c; S# k" j" Emonetary stimulus in place, consistent with achieving the 2 per cent inflation target in light of the 9 P; ]8 r* n, ^' d, `% K
significant excess supply in Canada, the strength of domestic spending, and the uneven global recovery.9 l2 }% E$ L+ ?5 G3 ]% M4 e
\8 V8 d! _3 I- v5 SGiven the considerable uncertainty surrounding the outlook, any further reduction of monetary9 A8 J+ h5 ]5 V4 X
stimulus would have to be weighed carefully against domestic and global economic
; d8 `& ?. h+ s# `' rdevelopments.
6 _, a8 g" K% h: I8 J# x* [! ^, m# p S( Q8 p L7 L
Information note:
+ \& x) E4 u2 ?& q0 IThe next scheduled date for announcing the overnight rate target is 20 July 2010. A full update+ @* Z- h u. C% E% i2 x
of the Bank's outlook for the economy and inflation, including risks to the projection, will be
) H5 N6 c2 S4 W% Epublished 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！