 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: ?8 `; f; [# u0 y y
! E& ~& S1 N. L- q
OTTAWA - The Bank of Canada today announced that it is raising its target for the overnight
7 J6 [4 ^* m0 @0 ?# W" r: V4 b, c# Irate by one-quarter of one percentage point to 1/2 per cent. The Bank Rate is correspondingly
. H- S: Z/ t/ Z0 I I, Eraised to 3/4 per cent and the deposit rate is kept at 1/4 per cent, thus re-establishing the normal
7 J8 T e F8 a0 M0 noperating band of 50 basis points for the overnight rate.
`0 Z5 u+ q2 Q! U
+ M' A+ p7 T' X$ kThe global economic recovery is proceeding but is increasingly uneven across countries, with/ J- D& ~1 ]1 f3 t; W2 A8 A; \
strong momentum in emerging market economies, some consolidation of the recovery in the
9 r: ]2 F( @0 @0 c: g# w; DUnited States, Japan and other industrialized economies, and the possibility of renewed weakness; g8 R7 Y( L0 a7 a8 W D1 w
in Europe. The required rebalancing of global growth has not yet materialized.
! I5 _, a$ {! gIn most advanced economies, the recovery remains heavily dependent on monetary and fiscal6 @3 n5 {1 {5 |
stimulus. In general, broad forces of household, bank, and sovereign deleveraging will add to the
6 R( d. ~; G- w5 d bvariability, and temper the pace, of global growth. Recent tensions in Europe are likely to result
3 O/ R. h* F0 q; j& nin higher borrowing costs and more rapid tightening of fiscal policy in some countries - an8 f) V7 O5 H) ?% z
important downside risk identified in the April Monetary Policy Report (MPR). Thus far, the
A) D3 W# u8 ~. Lspillover into Canada from events in Europe has been limited to a modest fall in commodity
3 z& N# {1 X, l Q; tprices and some tightening of financial conditions.
: Z- B* A/ D. h. W% P7 y3 d) S& _+ K; r! |& }% N% ]
Activity in Canada is unfolding largely as expected. The economy grew by a robust 6.1 per cent% J* ^! X* w5 V! n# I0 O
in the first quarter, led by housing and consumer spending. Employment growth has resumed.- H- ]1 w. q5 l3 p8 r
Going forward, household spending is expected to decelerate to a pace more consistent with
1 }, k* k& {7 }; @) F6 aincome growth. The anticipated pickup in business investment will be important for a more
3 {8 j' H0 `" Z: g5 wbalanced recovery.+ X& e( \& X+ E
0 I; i! e" t% p) ^
CPI inflation has been in line with the Bank's April projections. The outlook for inflation reflects
) `* U7 Z3 }# \6 Z( ithe combined influences of strong domestic demand, slowing wage growth, and overall excess4 `. r) Q3 o7 P' Z: d
supply.1 t3 B- l2 Z" i/ T( m' L6 u/ K U
' _+ R" O) L8 v% M3 BIn this context, the Bank has decided to raise the target for the overnight rate to 1/2 per cent and
7 m& J9 M1 r& v7 o( H$ Lto re-establish the normal functioning of the overnight market. This decision still leaves considerable
! E6 Y3 P1 \% y7 C3 J, qmonetary stimulus in place, consistent with achieving the 2 per cent inflation target in light of the 3 j4 g$ Z6 g1 h2 m9 h' w/ \
significant excess supply in Canada, the strength of domestic spending, and the uneven global recovery.1 d0 \( W2 m) A9 k$ N. g; F- i8 K
+ _8 Y4 T2 c; _+ o5 I L
Given the considerable uncertainty surrounding the outlook, any further reduction of monetary
" i V5 ]0 w( P5 _2 G7 U/ @stimulus would have to be weighed carefully against domestic and global economic1 I& L4 K8 n9 W8 o; A0 w! x$ M
developments.7 W" @4 B4 X7 W2 ?7 c
. V$ e0 b0 {' ^2 P+ v; v. i2 _
Information note:
, Z- v0 ]- I/ K, j3 u. rThe next scheduled date for announcing the overnight rate target is 20 July 2010. A full update
7 Z: T8 K# V0 i. s( p# u7 `of the Bank's outlook for the economy and inflation, including risks to the projection, will be
$ f1 C! ?' n: opublished 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！