 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, w9 M9 ?! h, S* U1 Y
3 }$ ~( q" m6 ?, V' b
OTTAWA - The Bank of Canada today announced that it is raising its target for the overnight
$ N3 V- Q/ D8 A* Y1 n. u+ ?rate by one-quarter of one percentage point to 1/2 per cent. The Bank Rate is correspondingly
! K a) v P$ v: `$ h( Sraised to 3/4 per cent and the deposit rate is kept at 1/4 per cent, thus re-establishing the normal
- B5 A* D# X* R j2 x$ V: @operating band of 50 basis points for the overnight rate.
& ^% s$ \9 R; n7 Q2 G, j/ `. y9 ~; X( a( O( K: Q! ]1 o) S
The global economic recovery is proceeding but is increasingly uneven across countries, with
p8 J& k {' ^$ j: Y8 tstrong momentum in emerging market economies, some consolidation of the recovery in the
: P: t7 k, u WUnited States, Japan and other industrialized economies, and the possibility of renewed weakness/ F6 s) i1 ~3 R# M; v# u
in Europe. The required rebalancing of global growth has not yet materialized.
3 _% X- u1 P) cIn most advanced economies, the recovery remains heavily dependent on monetary and fiscal
; e2 K% x3 `" V. Rstimulus. In general, broad forces of household, bank, and sovereign deleveraging will add to the
5 Z* h% K: a3 c- |variability, and temper the pace, of global growth. Recent tensions in Europe are likely to result6 m( O# L% t! F- x3 O; L- N
in higher borrowing costs and more rapid tightening of fiscal policy in some countries - an
: c0 Q: {6 G1 {important downside risk identified in the April Monetary Policy Report (MPR). Thus far, the/ c* T5 s5 i7 g6 K! x
spillover into Canada from events in Europe has been limited to a modest fall in commodity
; X, s0 {$ Z7 Y, S9 @) K1 yprices and some tightening of financial conditions." G; J( d0 G( Z8 b& p
( H/ z, Z2 {, A( o: Q
Activity in Canada is unfolding largely as expected. The economy grew by a robust 6.1 per cent0 n4 ]6 x; D* v% C6 h; ^; {
in the first quarter, led by housing and consumer spending. Employment growth has resumed.
T* @# t5 j$ V' t' z9 x' uGoing forward, household spending is expected to decelerate to a pace more consistent with. y5 @+ T! ?, _) H
income growth. The anticipated pickup in business investment will be important for a more
9 x: o3 D! x8 A X5 S J$ [; ~balanced recovery.
. T" H) @! c3 @$ G% Y! K- A+ [% n2 }' K( m3 l9 S
CPI inflation has been in line with the Bank's April projections. The outlook for inflation reflects
% B4 ~+ ?" p: I3 X1 X8 W2 Sthe combined influences of strong domestic demand, slowing wage growth, and overall excess
4 g9 u1 N; d& P7 j( s3 d) Bsupply.; T! [4 d) u2 ]! m0 g9 o
6 K1 c! ~& Q4 Q. AIn this context, the Bank has decided to raise the target for the overnight rate to 1/2 per cent and
# X5 P- b+ F2 x4 @to re-establish the normal functioning of the overnight market. This decision still leaves considerable
( ]4 D- [( b' b9 ?1 |4 A! Nmonetary stimulus in place, consistent with achieving the 2 per cent inflation target in light of the 8 T4 {2 D% w! ~
significant excess supply in Canada, the strength of domestic spending, and the uneven global recovery.
( `2 }$ b4 l& G+ ]' S) P9 t2 v* |3 g4 i
Given the considerable uncertainty surrounding the outlook, any further reduction of monetary. Y$ N% d9 T3 a2 R$ q
stimulus would have to be weighed carefully against domestic and global economic' Z3 a1 m6 R6 y. ^4 d$ @
developments.
" X! r1 `% M" }5 j9 a% Y; N' y" t6 u& v) h9 g9 ^7 _
Information note:
7 I9 t4 }$ e, I0 E) n: `The next scheduled date for announcing the overnight rate target is 20 July 2010. A full update
. K d) Z& j0 ] Pof the Bank's outlook for the economy and inflation, including risks to the projection, will be
% L2 h: u# D n" O2 I- Apublished 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！