 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 market7 }1 z, E1 G, E% F' m# h
6 Q+ E z/ }# @0 u* f5 kOTTAWA - The Bank of Canada today announced that it is raising its target for the overnight* Y$ b, i# {) j5 s$ x
rate by one-quarter of one percentage point to 1/2 per cent. The Bank Rate is correspondingly- p* `. r! i+ l* v! v+ y3 F. A
raised to 3/4 per cent and the deposit rate is kept at 1/4 per cent, thus re-establishing the normal* R6 B7 E( Z9 m6 L' K9 p, Z" t1 s
operating band of 50 basis points for the overnight rate.
1 g0 e3 t6 P0 G) n8 S" Y0 K! s/ u: o8 v& v: e W# ^9 A
The global economic recovery is proceeding but is increasingly uneven across countries, with
4 H6 I: R( V, S- x/ _/ n: a Fstrong momentum in emerging market economies, some consolidation of the recovery in the
0 T, K' t/ h. K, C7 z0 N2 [United States, Japan and other industrialized economies, and the possibility of renewed weakness# n* g2 z+ R7 V
in Europe. The required rebalancing of global growth has not yet materialized.* Y, ]* |3 D$ u8 c
In most advanced economies, the recovery remains heavily dependent on monetary and fiscal
5 u6 q2 w/ p3 h9 v e8 ?stimulus. In general, broad forces of household, bank, and sovereign deleveraging will add to the: m E% W1 ?. L n$ L5 x
variability, and temper the pace, of global growth. Recent tensions in Europe are likely to result& l. S0 u. S: H7 m+ p3 I" q0 h
in higher borrowing costs and more rapid tightening of fiscal policy in some countries - an3 Q. Z0 R1 p5 l
important downside risk identified in the April Monetary Policy Report (MPR). Thus far, the# W9 _7 o6 Y. Z" b" u+ H; g# }1 w
spillover into Canada from events in Europe has been limited to a modest fall in commodity
5 ^7 ?$ i0 q+ ?) v8 F, ^prices and some tightening of financial conditions.
% |. p/ A( K' `, v4 L' H
' i- W% G8 y1 J( R2 t }* mActivity in Canada is unfolding largely as expected. The economy grew by a robust 6.1 per cent
$ g3 S/ C- d r5 K; B% \3 ain the first quarter, led by housing and consumer spending. Employment growth has resumed., n. b- W- W( E# j: ]( C$ v
Going forward, household spending is expected to decelerate to a pace more consistent with
8 y& Y% C2 ^ z5 q3 ?, q# f3 [income growth. The anticipated pickup in business investment will be important for a more
' z8 D6 w. X9 y) q1 w) ibalanced recovery.
! B2 T9 L" f6 C" e* p2 i) K! P% x/ E6 V# ]7 _
CPI inflation has been in line with the Bank's April projections. The outlook for inflation reflects" D2 t) y6 A& O2 a$ q6 h( x
the combined influences of strong domestic demand, slowing wage growth, and overall excess
; m- `6 d1 I; {/ ~5 I/ m4 A' ~supply.
, w: Y) Z/ q: K- l) v& r3 e
8 ^1 z9 K. n4 I: OIn this context, the Bank has decided to raise the target for the overnight rate to 1/2 per cent and' ]# J, w) [! ?* P) E
to re-establish the normal functioning of the overnight market. This decision still leaves considerable
) p( o& o. C" F# ~) gmonetary stimulus in place, consistent with achieving the 2 per cent inflation target in light of the % G. F) S3 m$ E7 E K
significant excess supply in Canada, the strength of domestic spending, and the uneven global recovery.. u3 A% o$ a ^$ Z4 A$ l4 J- a
2 Q" ^+ y! Q& Z8 ]# z3 n: O& f8 _Given the considerable uncertainty surrounding the outlook, any further reduction of monetary) `* I: ~. |, m- }
stimulus would have to be weighed carefully against domestic and global economic: B9 s, e) g3 U* G
developments.! Y* N" f$ Q, z; X
* d" f# s1 Y* M6 i1 rInformation note:
5 {4 l, }5 d1 pThe next scheduled date for announcing the overnight rate target is 20 July 2010. A full update
2 p7 }+ J5 W+ I; `, }of the Bank's outlook for the economy and inflation, including risks to the projection, will be7 j1 Q3 o6 j3 A0 @1 g0 H0 _
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！