 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! [: X5 O5 X1 j: y- C
- ?2 z2 e1 x2 M8 W& N
OTTAWA - The Bank of Canada today announced that it is raising its target for the overnight4 J9 A9 m/ R/ \: h0 Z. T2 ?
rate by one-quarter of one percentage point to 1/2 per cent. The Bank Rate is correspondingly
6 T- d" ?4 G0 e* ]. ^raised to 3/4 per cent and the deposit rate is kept at 1/4 per cent, thus re-establishing the normal
* N# {$ _/ s6 h( N- ? B( X0 noperating band of 50 basis points for the overnight rate.
" J. D' H" u/ }8 _$ r7 a3 Q; q* q7 Z( u( X8 g4 @
The global economic recovery is proceeding but is increasingly uneven across countries, with( u& v9 V$ a! C) N; S" H3 K
strong momentum in emerging market economies, some consolidation of the recovery in the* x* z8 u% |) c
United States, Japan and other industrialized economies, and the possibility of renewed weakness
1 s6 P4 A9 n, D+ {4 F9 Cin Europe. The required rebalancing of global growth has not yet materialized.3 k" P3 ?9 s. d, }' a
In most advanced economies, the recovery remains heavily dependent on monetary and fiscal
- Q$ M* d) Q" e$ o5 ^$ @stimulus. In general, broad forces of household, bank, and sovereign deleveraging will add to the
2 C6 k4 k; s" O+ I& m7 K* \6 ]variability, and temper the pace, of global growth. Recent tensions in Europe are likely to result
0 \. O8 _+ c; [* G! ?in higher borrowing costs and more rapid tightening of fiscal policy in some countries - an
: f+ r( z+ S, Cimportant downside risk identified in the April Monetary Policy Report (MPR). Thus far, the
8 R' J6 r& x) h3 n' x! a% Fspillover into Canada from events in Europe has been limited to a modest fall in commodity
) j7 x3 s& A! u! y) T9 Tprices and some tightening of financial conditions.
6 F1 v. F* I+ }: c/ i
' P: a* G9 I* h( r8 u( ?1 o$ n% hActivity in Canada is unfolding largely as expected. The economy grew by a robust 6.1 per cent
% @0 m* D0 O$ @% B- U5 i: |! o+ Kin the first quarter, led by housing and consumer spending. Employment growth has resumed.( s9 Y, V( d" D: y2 R
Going forward, household spending is expected to decelerate to a pace more consistent with
4 k5 D0 ~. T. Z i2 Lincome growth. The anticipated pickup in business investment will be important for a more6 A) H- |! ]+ I3 @) _. X! i
balanced recovery.
0 c& t8 |! y" i( l
& D" I0 c$ y! H9 m8 \3 PCPI inflation has been in line with the Bank's April projections. The outlook for inflation reflects
- I1 B) b/ X6 x6 R; h6 `the combined influences of strong domestic demand, slowing wage growth, and overall excess: O4 p% a1 T) S- S! _. ^* a
supply." n5 @; M2 x+ q7 Z. U
0 `0 M( E; v* A% f0 j
In this context, the Bank has decided to raise the target for the overnight rate to 1/2 per cent and, S0 e3 R& m6 N. e5 O7 p' z& b
to re-establish the normal functioning of the overnight market. This decision still leaves considerable
! W+ n& h' w% W3 Lmonetary stimulus in place, consistent with achieving the 2 per cent inflation target in light of the 2 H; B4 A- U0 h8 b
significant excess supply in Canada, the strength of domestic spending, and the uneven global recovery.3 [3 U$ t$ ?5 i. N; T; t, f
7 E) O2 e7 a' j" b. ?Given the considerable uncertainty surrounding the outlook, any further reduction of monetary
8 @9 }: u! t R* [2 L8 E' w8 N ustimulus would have to be weighed carefully against domestic and global economic' F* o' x- H0 F; `2 _/ ~( P) @
developments.
/ y' z) U2 {* f0 w% H! C
n) e: q' Q7 x3 n% d# SInformation note:- w4 J: G( Y) x
The next scheduled date for announcing the overnight rate target is 20 July 2010. A full update
2 a# X2 Z0 O: z; ?: }of the Bank's outlook for the economy and inflation, including risks to the projection, will be
. R9 i5 K1 {+ J. Tpublished 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！