 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/ Q2 r/ G$ m" n# U) p* j
/ M; T: @ a4 e3 V
OTTAWA - The Bank of Canada today announced that it is raising its target for the overnight
6 A. ]. h6 m0 ]rate by one-quarter of one percentage point to 1/2 per cent. The Bank Rate is correspondingly, A' `* y* `+ t1 d7 F9 G
raised to 3/4 per cent and the deposit rate is kept at 1/4 per cent, thus re-establishing the normal# z: [0 @4 c' F
operating band of 50 basis points for the overnight rate.. z, o- n9 t2 c# t/ x
6 k: s2 e" h* \8 [# I3 V3 n k
The global economic recovery is proceeding but is increasingly uneven across countries, with4 t' K: I1 x% @' q7 f% C
strong momentum in emerging market economies, some consolidation of the recovery in the
+ }6 \( q4 O5 O; O- c% DUnited States, Japan and other industrialized economies, and the possibility of renewed weakness
/ W. C& m3 Q+ r# w: Cin Europe. The required rebalancing of global growth has not yet materialized.' \* X" O9 Y) K
In most advanced economies, the recovery remains heavily dependent on monetary and fiscal
0 ^1 `1 x! C. Hstimulus. In general, broad forces of household, bank, and sovereign deleveraging will add to the
) ]( {% t6 B' ~* z2 O, Y* [variability, and temper the pace, of global growth. Recent tensions in Europe are likely to result: D: c0 d; `$ \2 Z6 i& z
in higher borrowing costs and more rapid tightening of fiscal policy in some countries - an
4 e" ?+ p. R- X/ Qimportant downside risk identified in the April Monetary Policy Report (MPR). Thus far, the' K0 H- e* A& C5 [
spillover into Canada from events in Europe has been limited to a modest fall in commodity9 F5 n8 n: Q1 o4 L- f; I
prices and some tightening of financial conditions.; \- y: i5 U, c% i% k* j3 f, d& b
8 N- {- ]5 m# F- n" v. \' y
Activity in Canada is unfolding largely as expected. The economy grew by a robust 6.1 per cent
3 J; Z4 Q- H8 G& X( \in the first quarter, led by housing and consumer spending. Employment growth has resumed.
, g8 S/ o: O+ ]: M4 G; OGoing forward, household spending is expected to decelerate to a pace more consistent with
1 u2 O0 p6 O- O* M8 l( mincome growth. The anticipated pickup in business investment will be important for a more& Z" O0 s# H$ Q
balanced recovery.1 f! F0 M2 U# Y) `
7 K E, K1 @4 X3 }/ V gCPI inflation has been in line with the Bank's April projections. The outlook for inflation reflects
' v1 ^/ G) C0 d( v5 w1 b' cthe combined influences of strong domestic demand, slowing wage growth, and overall excess
+ a9 O' ^1 s- O) Ssupply.( |* R# n" H; g m
" i1 z5 ~0 t) |8 VIn this context, the Bank has decided to raise the target for the overnight rate to 1/2 per cent and
) m7 f4 D9 f% T, Oto re-establish the normal functioning of the overnight market. This decision still leaves considerable
' a9 v. k1 D2 N4 z/ h* v" q0 smonetary stimulus in place, consistent with achieving the 2 per cent inflation target in light of the , B" H, \. a: y, ~# v( B6 k
significant excess supply in Canada, the strength of domestic spending, and the uneven global recovery.
2 B7 U) \- C; s" I& I0 `$ y
6 X% s" p* p; D2 L: H2 \Given the considerable uncertainty surrounding the outlook, any further reduction of monetary. r5 [* |" E7 o
stimulus would have to be weighed carefully against domestic and global economic
' z( e+ S! n- C' @. rdevelopments.
; o5 ]5 b3 ]' _8 V2 n, V7 _ R
t: D9 T3 C# D% x9 \2 F* MInformation note:
0 c1 {5 D6 e1 G, o7 `- gThe next scheduled date for announcing the overnight rate target is 20 July 2010. A full update
+ g6 @' q" i2 c4 O$ \of the Bank's outlook for the economy and inflation, including risks to the projection, will be) n( X! [& U k# m: G- z
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！