 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 market6 _8 x7 m: g& `2 u
f; c9 s& E. J& P9 e+ A) v& rOTTAWA - The Bank of Canada today announced that it is raising its target for the overnight2 }, c( g2 ?, p
rate by one-quarter of one percentage point to 1/2 per cent. The Bank Rate is correspondingly7 Q6 }2 ]9 T9 N6 r$ K, X
raised to 3/4 per cent and the deposit rate is kept at 1/4 per cent, thus re-establishing the normal4 c7 r, `: q( C
operating band of 50 basis points for the overnight rate.
: S D s( Z7 F A( f u ~1 o7 n6 T: E l4 E) O
The global economic recovery is proceeding but is increasingly uneven across countries, with" t& \! p. i# S% n+ b% f0 _* }$ O1 f/ B9 Y
strong momentum in emerging market economies, some consolidation of the recovery in the
. K1 z6 b4 G. C9 OUnited States, Japan and other industrialized economies, and the possibility of renewed weakness
& J! k# \" c& N) a) }in Europe. The required rebalancing of global growth has not yet materialized.) W! V* e6 Q* G; H$ P: o9 D
In most advanced economies, the recovery remains heavily dependent on monetary and fiscal
, g1 j) T/ E$ R5 J) Dstimulus. In general, broad forces of household, bank, and sovereign deleveraging will add to the8 z% B2 R& r1 Y& z
variability, and temper the pace, of global growth. Recent tensions in Europe are likely to result1 s' G2 D7 A0 N" e6 |, T0 v( o1 W
in higher borrowing costs and more rapid tightening of fiscal policy in some countries - an
2 N& H! D3 g: H( d! s* \important downside risk identified in the April Monetary Policy Report (MPR). Thus far, the
1 p& Z8 d4 p* |2 J4 `spillover into Canada from events in Europe has been limited to a modest fall in commodity7 n7 p# o. a( H
prices and some tightening of financial conditions.
# F& _2 n) p; a% L2 p9 t: k; A3 B [" z8 h/ z! P5 `
Activity in Canada is unfolding largely as expected. The economy grew by a robust 6.1 per cent
* X+ m% K4 b' qin the first quarter, led by housing and consumer spending. Employment growth has resumed.
: C! S; B% y2 d3 S7 cGoing forward, household spending is expected to decelerate to a pace more consistent with3 k0 a B8 L* u* e. Z% ~
income growth. The anticipated pickup in business investment will be important for a more( c2 [5 K# D6 `3 i! W+ K. ]
balanced recovery.
/ B% S$ h0 Z6 y1 b1 P0 a& S: T
7 n7 ?1 }2 Q' z# o* q+ Q8 TCPI inflation has been in line with the Bank's April projections. The outlook for inflation reflects
4 r" b0 B1 e f9 {the combined influences of strong domestic demand, slowing wage growth, and overall excess
0 k0 @* a9 U1 |, p, P5 ~+ Fsupply.
6 q& j6 e+ {6 \2 e$ B
# @2 E& M2 I2 d @4 z6 I/ f% |In this context, the Bank has decided to raise the target for the overnight rate to 1/2 per cent and
! Z/ P2 ]$ ^1 i7 l1 ^to re-establish the normal functioning of the overnight market. This decision still leaves considerable - Z; z! W1 f/ y
monetary stimulus in place, consistent with achieving the 2 per cent inflation target in light of the " R, s0 Q) L3 q
significant excess supply in Canada, the strength of domestic spending, and the uneven global recovery.
7 [# {/ ^9 o! r' n8 ~6 r' o0 g" @$ I3 `+ g
Given the considerable uncertainty surrounding the outlook, any further reduction of monetary
1 ~" `) Z1 ]( Pstimulus would have to be weighed carefully against domestic and global economic
2 ^3 e* V+ n+ ]/ b) j3 |! zdevelopments.
$ ?' `1 t0 Z0 U4 Q [8 L$ E9 c, ?4 y
Information note:
+ v6 A6 f9 U8 q, o) u7 jThe next scheduled date for announcing the overnight rate target is 20 July 2010. A full update9 v/ b& O- ^3 D$ E
of the Bank's outlook for the economy and inflation, including risks to the projection, will be$ ~8 h" z% u5 O
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！