Bank of Canada Decided to Hold its Interest Rate Steady at 4.5%
APR 12th, 2023 The Bank of Canada decided to hold its interest rate steady at 4.5%. Annual inflation has cooled in recent months — down to 5.2% in February from its 8.1% peak in June. Data for March is set to be released next week and it’s expected to show the rate has cooled to as low as four per cent. That cooling is why the Bank of Canada has decided to sit on the sidelines for a while. According to the Bank, fourth quarter economic growth in Canada was flat and came in below expectations, due mainly to a falloff in inventory investment. The Bank added that tight monetary policy continues to weigh on household spending and business investment amidst slowing domestic and foreign demand. Notwithstanding, the labour market remains vibrant as evidenced by strong job gains, historically low unemployment, increased job vacancies, and wage growth in the range of 4-5%. In announcing its policy decision on Wednesday, the bank said in the accompanying Monetary Policy Report that it now forecasts the official inflation rate will come down to three per cent by the middle of this year, and get down to its two per cent target rate by the end of next year.
【央行宣布利率維持4.5%不變 暗示未來通脹將降溫】 加拿大央行周三決定將其利率穩定在4.5%，同時將其之前加息的影響通過經濟過濾下來。 近幾個月來，年度通脹率已經降溫 — 從6月份8.1%的峰值降至2月份的5.2%。3月份的數據將在下周公布，預計將顯示通貨膨脹率已經降至4%。 據該銀行稱，加拿大第四季度經濟增長持平，低於預期，主要是由於庫存投資的下降。央行補充說，在國內和國外需求放緩的情況下，緊縮的貨幣政策繼續對家庭支出和商業投資産生影響。盡管如此，勞動力市場仍然充滿活力，這體現在強勁的就業增長、歷史上最低的失業率、職位空缺的增加以及4-5%的工資增長。 在周三宣布政策決定時，央行在附帶的貨幣政策報告中說，現在預測通脹率將在今年年中降至3%，並在明年年底降至2%的目標利率。
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