 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& d# k# u8 \# F: v; a6 y
0 m+ ^7 C2 p$ d+ D5 W. a
OTTAWA - The Bank of Canada today announced that it is raising its target for the overnight
* g, F# S# q" A; s7 W) x2 v9 prate by one-quarter of one percentage point to 1/2 per cent. The Bank Rate is correspondingly, L& S1 _' S+ B5 J/ z4 w; ?& u
raised to 3/4 per cent and the deposit rate is kept at 1/4 per cent, thus re-establishing the normal
1 _" x! m, t+ {$ Q; u2 A) ~- `4 Voperating band of 50 basis points for the overnight rate.2 d1 d4 ^" P; V+ t, ]/ s0 r
2 e1 n+ Z3 c" b V! ^" j3 iThe global economic recovery is proceeding but is increasingly uneven across countries, with; Y0 R) S" X+ t/ a: M
strong momentum in emerging market economies, some consolidation of the recovery in the
; n( P1 |# x: b" y9 qUnited States, Japan and other industrialized economies, and the possibility of renewed weakness
# A! Q) T/ x, ~% jin Europe. The required rebalancing of global growth has not yet materialized.3 O9 t) w. d0 ^" e
In most advanced economies, the recovery remains heavily dependent on monetary and fiscal4 m% M3 s" M3 I8 m
stimulus. In general, broad forces of household, bank, and sovereign deleveraging will add to the$ L! |( h0 W4 C+ ?( F9 L0 T% W
variability, and temper the pace, of global growth. Recent tensions in Europe are likely to result
, B& b4 ]. N9 X8 L. r9 kin higher borrowing costs and more rapid tightening of fiscal policy in some countries - an
2 G# ?7 i, c4 ?% iimportant downside risk identified in the April Monetary Policy Report (MPR). Thus far, the; v# e( D+ E2 J- ^2 {1 B2 W' p
spillover into Canada from events in Europe has been limited to a modest fall in commodity
) d9 E9 a" n8 `: aprices and some tightening of financial conditions.; C2 u) x, T$ g# X5 ^. M
4 @5 X4 d4 {- @- V
Activity in Canada is unfolding largely as expected. The economy grew by a robust 6.1 per cent
- [0 } N$ k* j/ m# z$ M9 Oin the first quarter, led by housing and consumer spending. Employment growth has resumed./ r2 n5 v% q) U0 ^' _' z# c
Going forward, household spending is expected to decelerate to a pace more consistent with& b ^9 Z( X6 b/ e, \& F) f( U8 }
income growth. The anticipated pickup in business investment will be important for a more
) \9 V9 p5 r/ w! X- T* ~$ ]3 Lbalanced recovery.
' n7 T, Q; t8 G! R5 a
; V" R: p2 H& W2 p5 c7 {- C, k9 `0 RCPI inflation has been in line with the Bank's April projections. The outlook for inflation reflects
" E; K* K& h9 F+ N$ f1 ethe combined influences of strong domestic demand, slowing wage growth, and overall excess; x9 m! R1 B$ H/ q* }
supply.
a, r% D0 S K1 ]; k. v v; P5 t8 a# N% e4 s/ S* N7 N6 J
In this context, the Bank has decided to raise the target for the overnight rate to 1/2 per cent and1 Q ]0 J/ m+ G2 t* p
to re-establish the normal functioning of the overnight market. This decision still leaves considerable
3 t1 j' L% c" h' Zmonetary stimulus in place, consistent with achieving the 2 per cent inflation target in light of the # B# _" ?; A1 B) W+ y
significant excess supply in Canada, the strength of domestic spending, and the uneven global recovery.
/ ?: c$ g: ^: N1 B
- u: b7 A8 A# U* c. ZGiven the considerable uncertainty surrounding the outlook, any further reduction of monetary8 U) R/ q" @" a
stimulus would have to be weighed carefully against domestic and global economic- {- y( K% R$ q/ O
developments.
' i' u+ u0 d, y# N, D3 f% J" N" l! X# C1 s! n) y9 ]
Information note:
& T* E9 C7 L) l- rThe next scheduled date for announcing the overnight rate target is 20 July 2010. A full update5 R1 t# ~5 O; T- t U. A, R
of the Bank's outlook for the economy and inflation, including risks to the projection, will be
) \6 t) ?* c( vpublished 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！