 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+ F0 t" [7 T) P$ K% J
, }: D, [5 u5 k' `, ^- \( e
OTTAWA - The Bank of Canada today announced that it is raising its target for the overnight5 b; l" m2 i/ S; f/ `8 a7 L
rate by one-quarter of one percentage point to 1/2 per cent. The Bank Rate is correspondingly
( w8 T2 v$ V1 I8 D: [* kraised to 3/4 per cent and the deposit rate is kept at 1/4 per cent, thus re-establishing the normal8 _: j L7 E0 S7 H0 w+ |( l: c5 p
operating band of 50 basis points for the overnight rate.
' a( d5 A5 S# q0 c2 P( n
' N$ |/ A. i8 Q8 U3 N# | k( Z/ cThe global economic recovery is proceeding but is increasingly uneven across countries, with& B; H# P) K# n: I7 E3 W
strong momentum in emerging market economies, some consolidation of the recovery in the
6 h) o, E+ K9 y9 x) L) N1 UUnited States, Japan and other industrialized economies, and the possibility of renewed weakness9 r0 N; [0 h2 b' a0 H
in Europe. The required rebalancing of global growth has not yet materialized.. ?4 I* w u q" T) I) c
In most advanced economies, the recovery remains heavily dependent on monetary and fiscal
* H) M/ H4 u. \3 H% [stimulus. In general, broad forces of household, bank, and sovereign deleveraging will add to the
6 o/ \1 V. ^, h& R4 ]6 jvariability, and temper the pace, of global growth. Recent tensions in Europe are likely to result
2 g' f; t Y8 y. g/ x1 P: cin higher borrowing costs and more rapid tightening of fiscal policy in some countries - an) [ h4 K3 _% L- {" y- N, {5 }
important downside risk identified in the April Monetary Policy Report (MPR). Thus far, the5 R+ {6 D* j' E5 X K9 v9 w
spillover into Canada from events in Europe has been limited to a modest fall in commodity: M7 \3 O5 D$ ?! b/ S' L
prices and some tightening of financial conditions.
% G" s- d: _, i7 F: c% g3 o! m9 S, U# k) e
Activity in Canada is unfolding largely as expected. The economy grew by a robust 6.1 per cent
+ E0 G4 h {# Q+ _7 e3 \$ `& cin the first quarter, led by housing and consumer spending. Employment growth has resumed.
7 c$ d" I+ m' f" v7 Z1 n VGoing forward, household spending is expected to decelerate to a pace more consistent with
: `- ^$ D. \$ c+ L o1 [income growth. The anticipated pickup in business investment will be important for a more
m, s% m( g7 J4 k$ v2 ?* Mbalanced recovery.
' S2 {. L6 o8 W( J- P& R# e+ l3 l% _% f* F0 D0 { P. ?- N8 [$ J
CPI inflation has been in line with the Bank's April projections. The outlook for inflation reflects& d' \5 d7 r1 g
the combined influences of strong domestic demand, slowing wage growth, and overall excess) A* H1 P$ ]: a$ H0 V% W3 C
supply.6 N; }, O4 P( H3 P; |
$ O# G$ r' s; C' h/ Y( C
In this context, the Bank has decided to raise the target for the overnight rate to 1/2 per cent and
( M2 |/ a4 S- L8 _: ]to re-establish the normal functioning of the overnight market. This decision still leaves considerable
8 I- r4 l: x# U$ Vmonetary stimulus in place, consistent with achieving the 2 per cent inflation target in light of the 1 _5 r- K: t, I$ n, K
significant excess supply in Canada, the strength of domestic spending, and the uneven global recovery. c) }6 C1 E3 ^$ w$ y1 s- q
5 U# M. S% i% O9 }2 f# PGiven the considerable uncertainty surrounding the outlook, any further reduction of monetary g( n* d, b' c4 ?! o* H6 ?
stimulus would have to be weighed carefully against domestic and global economic
; F8 Y/ }# W% W+ X2 ^8 x3 odevelopments.
9 t5 E+ E8 u5 e' [$ E. T( x; W! Q: c3 Y$ P4 t# t( ~" D3 J
Information note:
# Z" {* t {- Z( o4 {The next scheduled date for announcing the overnight rate target is 20 July 2010. A full update: } o+ o: e- I- `
of the Bank's outlook for the economy and inflation, including risks to the projection, will be; r7 C) Z6 B5 p% ]
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！
