Bank Of Canada Cuts Rates By 0.25% As Policy 'No Longer Needs To Be Restrictive': Canadian Stocks Rally, Loonie Drops
Bank Of Canada Cuts Rates By 0.25% As Policy 'No Longer Needs To Be Restrictive': Canadian Stocks Rally, Loonie Drops
The Bank of Canada announced on Wednesday a 25 basis point reduction in interest rates, marking the first cut since March 2020, as widely anticipated by market participants.
加拿大银行周三宣布25个基点的利率下调，这是自2020年3月以来的首次降息，市场参与者普遍预计。
Consequently, the benchmark overnight rate and the deposit rate have been lowered to 4.75%, while the Bank Rate is now at 5%.
因此，基准夜间利率和存款利率降至4.75％，而银行利率现在为5％。
The decision to lower rates stems from evidence indicating that underlying inflation is easing. The Governing Council concluded that monetary policy "no longer needs to be restrictive," leading to a 25 basis point reduction in interest rates.
降息的决定源于指标下降的证据。决策委员会得出结论，货币政策“不再需要收紧”，导致利率降低了25个基点。
Policymakers noted that Canada's economic growth was slower than expected in the first quarter, primarily due to weaker inventory investment affecting overall activity.
政策制定者指出，由于采购被影响，头季度加拿大的经济增长低于预期。
Labor market data indicates that businesses continue to hire, although the rate of employment growth has not kept pace with the growth of the working-age population.
劳动力市场数据表明，企业继续招聘，尽管就业增长率没有跟上劳动年龄人口的增长。
In April, the annual inflation rate further decreased to 2.7%. The Bank's preferred measures of core inflation also showed a slowdown, with three-month measures indicating a continued downward trend.
四月份，年通货膨胀率进一步降至2.7％。银行的首选核心通货膨胀衡量指标也显示出放缓，三个月的指标表明继续下降趋势。
"Recent data has increased our confidence that inflation will continue to move towards the 2% target," the Bank of Canada stated. "However, shelter price inflation remains high," policymakers added.
“最近的数据增强了我们对通货膨胀将继续朝向2％目标前进的信心”，加拿大银行表示。“然而，住房价格通货膨胀仍然很高,”政策制定者补充说。
Regarding forward guidance, the central bank is closely monitoring core inflation trends and is particularly focused on the balance between supply and demand in the economy, inflation expectations, wage growth, and corporate pricing behavior. The Bank remains committed to restoring price stability for Canadians.
关于前瞻指引，央行密切关注核心通货膨胀趋势，特别关注经济中供求平衡、通货膨胀预期、工资增长和企业定价行为之间的平衡。央行致力于恢复加拿大人的价格稳定。
Chart: Bank of Canada Cuts Interest Rates To 4.75% In June 2024
图表：2024年6月加拿大银行将利率削减至4.75％
Market Reactions: The iShares MSCI Canada Index Fund (NYSE:EWC), which includes 94 Canadian stocks, experienced a 0.4% increase shortly after the interest rate decision was announced.
市场反应：包含94家加拿大股票的加拿大MSCI指数基金（NYSE：EWC）在利率决定公布后不久增长了0.4％。
The top performers within the fund were GFL Environmental Inc. (NYSE:GFL), First Quantum Minerals Ltd. (OTCPK: FQVLF), and Ivanhoe Mines Ltd. (OTCPK: IVPAF), with gains of 4%, 2.4%, and 2.3%, respectively.
基金中表现最好的是GFL Environmental Inc.（NYSE：GFL）、First Quantum Minerals Ltd.（OTCPK：FQVLF）和Ivanhoe Mines Ltd.（OTCPK：IVPAF），分别增长了4％、2.4％和2.3％。
Meanwhile, the Canadian dollar, or Loonie, weakened by 0.3% against the U.S. dollar, crossing the 1.37 level per USD.
与此同时，加元兑美元贬值了0.3％，穿过每个美元1.37个加元的水平。
Read now: 152,000 New Jobs Added In May, Missing Expectations: 'Notable Pockets Of Weakness'
立即阅读：五月新增15.2万个工作岗位，低于预期：“显著的弱点区域”
Photo: JHVEPhoto/Shutterstock
图片：JHVEPhoto / Shutterstock