 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: u, I" m0 y- Y
* E1 Y5 i$ o9 P6 G) {" NOTTAWA - The Bank of Canada today announced that it is raising its target for the overnight/ H" B: [5 ~4 f' A* X# S
rate by one-quarter of one percentage point to 1/2 per cent. The Bank Rate is correspondingly" v7 [1 `/ D5 _* z& w- g" f
raised to 3/4 per cent and the deposit rate is kept at 1/4 per cent, thus re-establishing the normal
+ H! g8 j/ c$ L) G* y& g, C; Ooperating band of 50 basis points for the overnight rate.
0 m8 Q% A9 g: O5 w. H% H1 [2 x8 _6 S
The global economic recovery is proceeding but is increasingly uneven across countries, with
7 q+ e4 }/ w, Dstrong momentum in emerging market economies, some consolidation of the recovery in the
# k3 R" U; n/ j& T& EUnited States, Japan and other industrialized economies, and the possibility of renewed weakness g: q4 _ b$ N; c6 Q) I: d
in Europe. The required rebalancing of global growth has not yet materialized. O& V3 c8 |! z5 K4 ~/ W
In most advanced economies, the recovery remains heavily dependent on monetary and fiscal. _ _1 @* Z6 t+ B S
stimulus. In general, broad forces of household, bank, and sovereign deleveraging will add to the
9 J( c; n# D% H. ~" |variability, and temper the pace, of global growth. Recent tensions in Europe are likely to result
0 h- N( B+ @1 m, K4 ]in higher borrowing costs and more rapid tightening of fiscal policy in some countries - an
) c& u. L2 Y: H2 _) L" a4 Dimportant downside risk identified in the April Monetary Policy Report (MPR). Thus far, the& I. s4 L6 H( A$ m4 ]. Y* |6 X
spillover into Canada from events in Europe has been limited to a modest fall in commodity
3 `: k- s9 k& {5 W% Kprices and some tightening of financial conditions.
* D" V2 Y/ R/ ?9 D' e$ w- B6 Q2 g) K( D1 A
Activity in Canada is unfolding largely as expected. The economy grew by a robust 6.1 per cent6 q1 ~+ t8 x8 n2 B' B) ~/ b% S& i; [
in the first quarter, led by housing and consumer spending. Employment growth has resumed.
$ \& q4 o6 p* [) h0 IGoing forward, household spending is expected to decelerate to a pace more consistent with
% A& m% t2 v3 Eincome growth. The anticipated pickup in business investment will be important for a more! ]5 k! u; H. G1 W
balanced recovery.& ^* R9 o6 g' V: F# U, g2 S
* G+ e% }( N) s* a r" hCPI inflation has been in line with the Bank's April projections. The outlook for inflation reflects
9 m" O; g$ ]. U% Ythe combined influences of strong domestic demand, slowing wage growth, and overall excess
7 G% \3 B: q# W a/ {* J9 msupply.
% V# w4 H3 q5 B( q7 Q& R
3 ~2 F: y( O$ W/ s: zIn this context, the Bank has decided to raise the target for the overnight rate to 1/2 per cent and
8 r4 ^! e8 b: r/ B$ Z9 Nto re-establish the normal functioning of the overnight market. This decision still leaves considerable 6 T4 M9 i8 Y2 e9 z* i7 Z n
monetary stimulus in place, consistent with achieving the 2 per cent inflation target in light of the 9 {# J, x% f0 T0 Q0 R- y k2 _" s5 O* b
significant excess supply in Canada, the strength of domestic spending, and the uneven global recovery.- L$ _& R5 S. n" C" w
8 e6 ?) y" O, A% W' B9 fGiven the considerable uncertainty surrounding the outlook, any further reduction of monetary
+ g+ f; O" d! k: Q8 N0 ]% @1 Tstimulus would have to be weighed carefully against domestic and global economic' q: x8 |4 v( h& Z
developments.. f+ }9 d: g+ \ R9 y3 V
! O4 g& T4 C6 M" e& B% A% NInformation note:
0 ~2 T. q- G4 w. H+ v8 D: HThe next scheduled date for announcing the overnight rate target is 20 July 2010. A full update. ~, p" d5 q5 a8 }; U+ v, c* a
of the Bank's outlook for the economy and inflation, including risks to the projection, will be
# a7 v/ l& T1 o6 w6 ^ \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！