 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+ ]- P% ~6 W& n5 K% N: U
3 \2 q7 b0 v/ D# d4 i8 ]
OTTAWA - The Bank of Canada today announced that it is raising its target for the overnight; ~, B4 R. A; x0 C8 V
rate by one-quarter of one percentage point to 1/2 per cent. The Bank Rate is correspondingly- M) w" s2 N( L& d
raised to 3/4 per cent and the deposit rate is kept at 1/4 per cent, thus re-establishing the normal
2 j; w7 Z8 Y. [+ x- Hoperating band of 50 basis points for the overnight rate.
' `) }( g' j) ?4 U- U- }
" O/ V: ^5 V$ C5 fThe global economic recovery is proceeding but is increasingly uneven across countries, with
7 A. M6 u; k estrong momentum in emerging market economies, some consolidation of the recovery in the# M" m( C- U4 m7 V3 L" s
United States, Japan and other industrialized economies, and the possibility of renewed weakness
" N$ e$ p7 Q1 p$ f8 r9 P4 c* Z4 Uin Europe. The required rebalancing of global growth has not yet materialized.
0 S, `- s$ [* f( P' i/ e) vIn most advanced economies, the recovery remains heavily dependent on monetary and fiscal1 ^" K1 H; v1 { S; N. Y
stimulus. In general, broad forces of household, bank, and sovereign deleveraging will add to the6 ~ g) W: G' k- `$ Q( h
variability, and temper the pace, of global growth. Recent tensions in Europe are likely to result4 Q( P) Z) f& K* @4 z- k S; Q/ T2 z
in higher borrowing costs and more rapid tightening of fiscal policy in some countries - an
$ c. }9 z3 V8 J* g8 Ximportant downside risk identified in the April Monetary Policy Report (MPR). Thus far, the' r, ]" Y- Q/ l$ t
spillover into Canada from events in Europe has been limited to a modest fall in commodity4 c& P: n7 O' s1 K- V1 X
prices and some tightening of financial conditions.
4 y5 b8 _8 h8 P: c/ Z7 M& a
) T, L9 [2 C) aActivity in Canada is unfolding largely as expected. The economy grew by a robust 6.1 per cent
5 i, C/ `/ T7 I. w/ Hin the first quarter, led by housing and consumer spending. Employment growth has resumed.
# B. Q9 l! H6 \8 Z4 ? N6 d$ F, KGoing forward, household spending is expected to decelerate to a pace more consistent with
6 T1 X$ |6 S% H- H( ]# D0 S8 H3 f* bincome growth. The anticipated pickup in business investment will be important for a more* y, X0 W! p+ h/ Z
balanced recovery.( d9 K) ]; B! H: {
, [' `3 ]& r3 N7 }: h
CPI inflation has been in line with the Bank's April projections. The outlook for inflation reflects
O! u! Z- I$ N1 p$ @the combined influences of strong domestic demand, slowing wage growth, and overall excess1 T0 `/ w: \5 F
supply.
Y7 I! G- t* ]0 @6 _0 @* Z) c z( Z8 ^% k- |; o1 z* Z
In this context, the Bank has decided to raise the target for the overnight rate to 1/2 per cent and
7 f) w7 G3 v7 L8 b) h! H& ~% A2 Ato re-establish the normal functioning of the overnight market. This decision still leaves considerable
% x" C# f* m5 C- \monetary stimulus in place, consistent with achieving the 2 per cent inflation target in light of the % v% C/ g$ d$ Y! F, y1 x; i
significant excess supply in Canada, the strength of domestic spending, and the uneven global recovery.
8 N1 O ?, i$ F2 K# C
9 o& M. Y; \- c# r% p1 YGiven the considerable uncertainty surrounding the outlook, any further reduction of monetary
' Q' P6 A0 l5 W6 }9 Wstimulus would have to be weighed carefully against domestic and global economic
& X/ X( i6 p/ Z }* j, v% edevelopments.
$ E6 Y8 Q4 P0 Q* I0 {$ x
0 L/ _' I) z. _5 `2 M1 GInformation note:
2 U2 {- u8 V# u ~4 u9 RThe next scheduled date for announcing the overnight rate target is 20 July 2010. A full update
) c1 y" k* d) rof the Bank's outlook for the economy and inflation, including risks to the projection, will be2 X( |6 b( d5 C) ^# e# Z" B
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！
