本文发表在 rolia.net 枫下论坛Tuesday, March 04, 2003 OTTAWA (CP) - The Bank of
Canada raised its benchmark interest rate by a quarter of a point to 3.0 per cent at its scheduled rate-setting meeting on Tuesday.
The bank said inflation - which hit 4.5 per cent in January - is holding above its target rate of two per cent. Although economic growth slowed in the final quarter of last year, the level of economic activity remains near full production capacity. "In the circumstances, the persistence of above-target rates of inflation has elevated the risk of an increase in inflation expectations," the bank said in announcing the increase.'
The central bank last changed its key rate - the overnight rate - last July, when it pumped it up to 2.75 per cent. The bank raised this rate a total of three-quarters of a point in three moves in 2002 after starting off the year with a quarter-point cut. In 2001 the rate plunged 3.5 percentage points in nine moves, including a 0.75-point cut in October, bringing smiles to the faces of thousands of Canadian home buyers. This time around, the bank had a tough policy choice because of mixed economic signals and an unstable global economy. Economists were of two minds about the best course of action.Some said higher inflation suggested the need for an increase of a quarter of a percentage point or even half a point.
Others pointed to data which shows the economy slowed sharply in the fourth quarter of last year, which suggested rates should remain steady, keeping consumer loans and mortgages at historically low levels.更多精彩文章及讨论，请光临枫下论坛 rolia.net
Canada raised its benchmark interest rate by a quarter of a point to 3.0 per cent at its scheduled rate-setting meeting on Tuesday.
The bank said inflation - which hit 4.5 per cent in January - is holding above its target rate of two per cent. Although economic growth slowed in the final quarter of last year, the level of economic activity remains near full production capacity. "In the circumstances, the persistence of above-target rates of inflation has elevated the risk of an increase in inflation expectations," the bank said in announcing the increase.'
The central bank last changed its key rate - the overnight rate - last July, when it pumped it up to 2.75 per cent. The bank raised this rate a total of three-quarters of a point in three moves in 2002 after starting off the year with a quarter-point cut. In 2001 the rate plunged 3.5 percentage points in nine moves, including a 0.75-point cut in October, bringing smiles to the faces of thousands of Canadian home buyers. This time around, the bank had a tough policy choice because of mixed economic signals and an unstable global economy. Economists were of two minds about the best course of action.Some said higher inflation suggested the need for an increase of a quarter of a percentage point or even half a point.
Others pointed to data which shows the economy slowed sharply in the fourth quarter of last year, which suggested rates should remain steady, keeping consumer loans and mortgages at historically low levels.更多精彩文章及讨论，请光临枫下论坛 rolia.net