 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
; E' w. t: g W- D: G0 x- O; q: y* M6 \3 I3 d0 R6 W7 h- z& d
OTTAWA - The Bank of Canada today announced that it is raising its target for the overnight/ `' H+ L; {& }& W
rate by one-quarter of one percentage point to 1/2 per cent. The Bank Rate is correspondingly
8 x/ L; k6 e& U( L: S a2 Graised to 3/4 per cent and the deposit rate is kept at 1/4 per cent, thus re-establishing the normal
; H- ]+ S+ [' c5 |! n% ~& voperating band of 50 basis points for the overnight rate.) O( ?1 g: m, m) i7 I
: f* [9 G- }9 }9 a! O- N
The global economic recovery is proceeding but is increasingly uneven across countries, with X+ t, j, Q# Y. M: |% ~! B$ A
strong momentum in emerging market economies, some consolidation of the recovery in the0 U1 e( N+ N1 u% d6 F
United States, Japan and other industrialized economies, and the possibility of renewed weakness* [4 F+ D. _% C( ~1 r9 |
in Europe. The required rebalancing of global growth has not yet materialized.
/ U, c B* G$ i/ h2 i9 tIn most advanced economies, the recovery remains heavily dependent on monetary and fiscal* P# K1 m$ o0 j2 a
stimulus. In general, broad forces of household, bank, and sovereign deleveraging will add to the! b+ F, C( C* O* t( L4 C
variability, and temper the pace, of global growth. Recent tensions in Europe are likely to result
# N9 W) u: X: L0 @/ j1 Y# win higher borrowing costs and more rapid tightening of fiscal policy in some countries - an+ ]2 X2 `' m0 ~2 u; _$ P# U. j0 N
important downside risk identified in the April Monetary Policy Report (MPR). Thus far, the
, E c( r( c3 e3 T( H* rspillover into Canada from events in Europe has been limited to a modest fall in commodity0 v: ^# P/ M) \# U3 Z/ j; N
prices and some tightening of financial conditions.& D1 t; [, q9 x& w7 _
- z" l0 _1 J9 G$ ^2 S$ L% t
Activity in Canada is unfolding largely as expected. The economy grew by a robust 6.1 per cent7 u2 j3 _* G/ s& c8 }
in the first quarter, led by housing and consumer spending. Employment growth has resumed.1 e2 \9 b, z0 @3 K! t2 f" X( c% C
Going forward, household spending is expected to decelerate to a pace more consistent with
+ }/ y5 _# C: T! D# Yincome growth. The anticipated pickup in business investment will be important for a more: P5 k* |, g" J, w/ ]
balanced recovery.
8 M _9 n& E; A. }# M9 a4 ^8 f% T [. b) \
CPI inflation has been in line with the Bank's April projections. The outlook for inflation reflects) m. R' j# D8 P7 r2 ]9 X
the combined influences of strong domestic demand, slowing wage growth, and overall excess5 G) T9 s& U& Z. P0 \0 q1 I4 Z$ ?. m. f
supply.6 k1 G- O5 x0 p
2 n; N( l0 u4 K7 oIn this context, the Bank has decided to raise the target for the overnight rate to 1/2 per cent and
+ L/ Y/ W( v; Q, [to re-establish the normal functioning of the overnight market. This decision still leaves considerable $ W+ S0 g' E8 f9 j8 \% x' x) w
monetary stimulus in place, consistent with achieving the 2 per cent inflation target in light of the
$ _: k4 D! d! p5 Wsignificant excess supply in Canada, the strength of domestic spending, and the uneven global recovery.( M. V3 ?" o+ N7 H& S# i! }
: o8 M# G6 c% t u6 M3 YGiven the considerable uncertainty surrounding the outlook, any further reduction of monetary, q6 \4 C z% f) Z; m4 J' e
stimulus would have to be weighed carefully against domestic and global economic( ^% U; k2 w7 d- Y6 X
developments.2 B8 P* y: [6 q- J' f( l5 ]* ?
% y# i/ e" B4 T/ @3 N
Information note:
1 m" M; _# x% Y7 O, M& ]The next scheduled date for announcing the overnight rate target is 20 July 2010. A full update. g, |* ^9 {! X0 b: R# ` X+ F& Y* X
of the Bank's outlook for the economy and inflation, including risks to the projection, will be7 i g/ E% \0 j; g: E8 n3 P8 ]
published 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！