 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; _3 Q# d- P3 G# g
3 b, q) |- d7 G' r
OTTAWA - The Bank of Canada today announced that it is raising its target for the overnight
8 i1 e% {! @4 Q# ?# \8 x6 Hrate by one-quarter of one percentage point to 1/2 per cent. The Bank Rate is correspondingly
% P2 A' o1 F/ _% D2 u& M% ]raised to 3/4 per cent and the deposit rate is kept at 1/4 per cent, thus re-establishing the normal3 V' H/ l; ^! \5 G
operating band of 50 basis points for the overnight rate.
, X5 A4 [% f5 X2 |6 D# @) X# O
5 a# X! _' A( x- _" D% q( LThe global economic recovery is proceeding but is increasingly uneven across countries, with* W e- ]2 Z3 i( L0 d
strong momentum in emerging market economies, some consolidation of the recovery in the
% L7 |, i- G9 p: t/ Z& v+ U2 VUnited States, Japan and other industrialized economies, and the possibility of renewed weakness
9 D3 ~1 H2 w1 y9 b, U0 t. yin Europe. The required rebalancing of global growth has not yet materialized.4 B/ N6 \- u9 c
In most advanced economies, the recovery remains heavily dependent on monetary and fiscal4 ?" Q) R/ j" Y3 }
stimulus. In general, broad forces of household, bank, and sovereign deleveraging will add to the4 X5 ~1 E7 z& P) c
variability, and temper the pace, of global growth. Recent tensions in Europe are likely to result+ _6 K! G) B; P3 |5 \+ s1 h
in higher borrowing costs and more rapid tightening of fiscal policy in some countries - an: j% V( J8 T( N w4 x: B
important downside risk identified in the April Monetary Policy Report (MPR). Thus far, the
& e8 j9 [. G1 ?9 k E7 J$ fspillover into Canada from events in Europe has been limited to a modest fall in commodity. w9 y3 w0 |5 l# @# P5 h2 _
prices and some tightening of financial conditions.
8 O# e# e' W$ j
4 N X3 x- n$ M9 e& aActivity in Canada is unfolding largely as expected. The economy grew by a robust 6.1 per cent$ ? f# k6 e6 @, K
in the first quarter, led by housing and consumer spending. Employment growth has resumed.1 Y5 D4 e& U4 |- U) x4 r: [( B7 D/ c
Going forward, household spending is expected to decelerate to a pace more consistent with$ @' r% H! D1 B$ T6 u' a: N& j' h
income growth. The anticipated pickup in business investment will be important for a more2 Z7 [* ~* u+ t6 ]& H6 a
balanced recovery.% ]' D3 r" }- [, X- B* h
* a6 b4 a- r9 ]. z. b+ i; N/ T( _
CPI inflation has been in line with the Bank's April projections. The outlook for inflation reflects
% }" I! _# ]# a V: kthe combined influences of strong domestic demand, slowing wage growth, and overall excess
7 R9 u5 B" L& Z5 ^, Gsupply.6 z% B6 K- L) F7 y+ A; v
. Z1 P' C" f! J1 `. I6 T
In this context, the Bank has decided to raise the target for the overnight rate to 1/2 per cent and9 n; N# S9 O- `. W: D8 U* I
to re-establish the normal functioning of the overnight market. This decision still leaves considerable
4 s. @0 {! D$ R+ w$ S0 lmonetary stimulus in place, consistent with achieving the 2 per cent inflation target in light of the
4 |" j) R& ^. |8 }2 }& vsignificant excess supply in Canada, the strength of domestic spending, and the uneven global recovery.- N" ?* l. l! X9 R
' ^. K7 s: j+ T
Given the considerable uncertainty surrounding the outlook, any further reduction of monetary; |' L& p3 v0 Z6 G7 h
stimulus would have to be weighed carefully against domestic and global economic# J; v* Z+ m: F# f) j Z
developments.; f1 x% W& h3 c5 c( {
, [* Q" c% u6 f+ T6 G, y6 C
Information note:+ V7 B- w7 M5 X# f9 j; X
The next scheduled date for announcing the overnight rate target is 20 July 2010. A full update4 }% N1 r" H' f6 j+ c) @
of the Bank's outlook for the economy and inflation, including risks to the projection, will be
0 K# W: L8 B: @9 F$ o3 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！