 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
. D5 K( W. x6 s- `# c5 F! ?: h4 _* U) Q7 i" V8 W8 q
OTTAWA - The Bank of Canada today announced that it is raising its target for the overnight% Z5 C, `* C, L2 V6 v( {
rate by one-quarter of one percentage point to 1/2 per cent. The Bank Rate is correspondingly
/ D" _9 C1 ^. m" c$ q+ k7 z' m) Braised to 3/4 per cent and the deposit rate is kept at 1/4 per cent, thus re-establishing the normal
. X* E. ]+ K* G' N' }3 O% Coperating band of 50 basis points for the overnight rate.1 W& H/ {) W( f) l. z$ x4 _
+ X( D& ^0 M/ a4 A
The global economic recovery is proceeding but is increasingly uneven across countries, with
, r2 U: O! k" N' v% \strong momentum in emerging market economies, some consolidation of the recovery in the. n" C3 {! u" ~! s, a
United States, Japan and other industrialized economies, and the possibility of renewed weakness
! s/ C. |, l) E m; w+ Vin Europe. The required rebalancing of global growth has not yet materialized.; C% J1 }+ a0 H! q' o h
In most advanced economies, the recovery remains heavily dependent on monetary and fiscal
6 F: _' c* R2 }! x/ W' O, [stimulus. In general, broad forces of household, bank, and sovereign deleveraging will add to the6 v7 M ^7 H$ D; f
variability, and temper the pace, of global growth. Recent tensions in Europe are likely to result
% E, I* z/ }9 V/ c8 ^% ?in higher borrowing costs and more rapid tightening of fiscal policy in some countries - an
+ t# F) m/ |# r+ `important downside risk identified in the April Monetary Policy Report (MPR). Thus far, the
) n/ T, x3 ~6 u7 q- i$ ~spillover into Canada from events in Europe has been limited to a modest fall in commodity
! O) W1 f0 I1 M' S4 r( [' `+ fprices and some tightening of financial conditions./ y. ~* U3 c+ p/ {/ Y
; r2 \: E" B9 vActivity in Canada is unfolding largely as expected. The economy grew by a robust 6.1 per cent
/ O2 X# g: O$ k# L- H# zin the first quarter, led by housing and consumer spending. Employment growth has resumed.) {% d% N8 w& Z( x3 F
Going forward, household spending is expected to decelerate to a pace more consistent with3 X6 v- g* k$ V; L3 d( x
income growth. The anticipated pickup in business investment will be important for a more0 D2 ]0 p# E* j3 X$ c( X/ r% n
balanced recovery.
3 v' j! U2 g# Y: q+ K
/ O3 z. I0 B, O p3 G; [! rCPI inflation has been in line with the Bank's April projections. The outlook for inflation reflects7 a% x5 Y( r) l0 B& ?7 y
the combined influences of strong domestic demand, slowing wage growth, and overall excess
1 Y4 {& r/ E: }0 S z0 o0 \2 g) Fsupply./ y# `; b% q& {7 |7 n
3 F; V# Y# p. w+ zIn this context, the Bank has decided to raise the target for the overnight rate to 1/2 per cent and( |) v% S2 F- `9 A- y
to re-establish the normal functioning of the overnight market. This decision still leaves considerable + O g% F0 g& a8 [7 m9 y5 o0 [+ W- v
monetary stimulus in place, consistent with achieving the 2 per cent inflation target in light of the
' P9 D$ E% v! D {) W. Qsignificant excess supply in Canada, the strength of domestic spending, and the uneven global recovery.+ E( p4 O& F: D8 `
- P' J# @5 J+ d* w( c( vGiven the considerable uncertainty surrounding the outlook, any further reduction of monetary
: S3 X4 r0 w w/ I) \; bstimulus would have to be weighed carefully against domestic and global economic
5 U! Q5 m0 m) F6 ~& n% qdevelopments.' Z& P/ b5 L/ W. x
5 D$ Y9 f. I6 }
Information note:
; U5 c+ ~! r0 [ J) u. UThe next scheduled date for announcing the overnight rate target is 20 July 2010. A full update. H3 l- ]8 h* E P5 V
of the Bank's outlook for the economy and inflation, including risks to the projection, will be0 ], f4 N$ X1 p. w& y4 A
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！