 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# b: ~$ _- m( N' A8 R
+ x4 Y4 `; @, U3 ]# `" X9 z1 f
OTTAWA - The Bank of Canada today announced that it is raising its target for the overnight
) j# S) O" T+ }/ N/ S. L: t5 u8 G, r! [rate by one-quarter of one percentage point to 1/2 per cent. The Bank Rate is correspondingly
" b/ |) m6 E z) P' U% h4 Jraised to 3/4 per cent and the deposit rate is kept at 1/4 per cent, thus re-establishing the normal. a3 M; V5 J# U, \4 D* r
operating band of 50 basis points for the overnight rate.
3 x% s$ D. q, j. A! O1 K
$ D3 e3 B- `! QThe global economic recovery is proceeding but is increasingly uneven across countries, with% H7 ?5 L' X3 n D2 j0 B& f
strong momentum in emerging market economies, some consolidation of the recovery in the8 D' E3 S! {% O9 J4 w% U( c+ P
United States, Japan and other industrialized economies, and the possibility of renewed weakness0 _2 B" O+ C1 ]$ K9 r
in Europe. The required rebalancing of global growth has not yet materialized.
9 p( ]" y, u, F* |7 O' q- Y5 dIn most advanced economies, the recovery remains heavily dependent on monetary and fiscal
; ~) B# Q7 y3 c; q6 F6 I% e- {# M! dstimulus. In general, broad forces of household, bank, and sovereign deleveraging will add to the
$ K. x# T# {) `variability, and temper the pace, of global growth. Recent tensions in Europe are likely to result' f$ C( S' e+ p& V$ F
in higher borrowing costs and more rapid tightening of fiscal policy in some countries - an+ ~7 ]5 r5 V9 M
important downside risk identified in the April Monetary Policy Report (MPR). Thus far, the- t2 @, s0 D6 ?# O+ @4 ~+ R) n
spillover into Canada from events in Europe has been limited to a modest fall in commodity1 L# J, A4 E4 @6 t
prices and some tightening of financial conditions.
1 N* Z; Y A1 E N3 R- E) G* j4 ~, J# c9 _
Activity in Canada is unfolding largely as expected. The economy grew by a robust 6.1 per cent
5 ?2 m5 q" X5 Q! V/ m/ Uin the first quarter, led by housing and consumer spending. Employment growth has resumed.
, n k9 W0 m& h/ FGoing forward, household spending is expected to decelerate to a pace more consistent with
/ [2 G5 @; A( e! v$ j4 y- W1 f+ Vincome growth. The anticipated pickup in business investment will be important for a more
% N0 v8 x9 [# w/ |' N8 S# \balanced recovery.# y0 ^* F& G4 h9 S
6 n7 `: d# b# @4 S- s. ACPI inflation has been in line with the Bank's April projections. The outlook for inflation reflects
0 \ P a8 v3 x5 G9 b2 qthe combined influences of strong domestic demand, slowing wage growth, and overall excess x9 H2 q6 c% A$ m4 W$ x
supply.. q# y9 }. V! Q9 R, r+ {4 [
0 g: E- l# {) }. L
In this context, the Bank has decided to raise the target for the overnight rate to 1/2 per cent and
8 M" M/ q" {' h0 \0 h8 Qto re-establish the normal functioning of the overnight market. This decision still leaves considerable
1 Y! r2 X$ P: s- Amonetary stimulus in place, consistent with achieving the 2 per cent inflation target in light of the ' Z$ `# s6 Z' Z/ a; u) {4 `/ L4 \" l
significant excess supply in Canada, the strength of domestic spending, and the uneven global recovery.
; `) x: v& T/ u! b3 K9 G2 f
% o" f$ }# Z8 N9 @4 H7 N/ GGiven the considerable uncertainty surrounding the outlook, any further reduction of monetary" L l( y4 l6 Z, K$ j, g
stimulus would have to be weighed carefully against domestic and global economic
- S1 u8 a' f+ |, }3 ~, _developments.& o+ \) r/ c. ~5 E4 o
1 M* }% C: n+ n! q3 l/ u0 r
Information note:
0 D- W' n2 U9 y0 v/ OThe next scheduled date for announcing the overnight rate target is 20 July 2010. A full update' e6 j1 U8 W/ B2 d
of the Bank's outlook for the economy and inflation, including risks to the projection, will be
7 p0 {% L/ t" h7 N9 G' o% ppublished 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！