Kanadská centrálna banka zvýšila kľúčovú úrokovú sadzbu

Kanadská centrálna banka v stredu zvýšila kľúčovú úrokovú sadzbu o 25 bázických bodov na 1 %. K zvýšeniu sadzieb banka pristúpila už tretíkrát po sebe, tvrdí však, že slabá ekonomika USA môže poškodiť kanadské zotavovanie. Dvadsaťpäť z 41 analytikov, ktorých vo svojom prieskume oslovila agentúra Reuters, očakávalo, že banka sadzby zvýši.

"Ďalšie obmedzovanie podpory ekonomiky monetárnou politikou musí byť pozorne prehodnotené vzhľadom na mimoriadnu neistotu, ktorá obklopuje výhľad," uvádza banka vo svojom stanovisku.

Bank of Canada hikes rates, sees slower recovery

OTTAWA, Sept 8 (Reuters) - The Bank of Canada raised its

benchmark interest rate for a third consecutive time on

Wednesday, nudging the rate up 25 basis points to 1 percent,

but said a weak U.S. economy would hamper Canada's recovery.

The central bank gave little guidance on its next interest

rate move in October. It said rates remained "exceptionally

stimulative" but it kept the door open to standing pat if

necessary due to doubts about the U.S. and global recoveries.

"Any further reduction in monetary policy stimulus would

need to be carefully considered in light of the unusual

uncertainty surrounding the outlook," it said in a statement.

The Canadian dollar rose slightly, while short-term money

market rates and bond yields jumped. The yield on the rate

sensitive two-year Canadian government bond rose to

1.352 percent from 1.266 percent just before the news.

"Generally it's a very upbeat statement, it's a little more

hawkish than I anticipated," said Derek Burleton, Deputy Chief

Economist at TD Bank Financial Group. "This will cast some

uncertainty about whether the bank will pause at the next fixed

announcement date."

The Bank of Canada said the overnight target rate of 1

percent is "consistent with achieving the 2 percent inflation

target in an environment of significant excess supply in

Canada."

The language was similar to that used in its last rate

announcement on July 20. But the bank omitted any reference to

weighing any further rate hikes "against domestic and global

economic developments."

The bank acknowledged that the economic growth projections

in its July Monetary Policy Report were too optimistic. Second

quarter growth disappointed at a 2 percent annual rate and the

bank now sees a slightly slower recovery than it did six weeks

ago.

It blamed the weaker economy in the United States, which

buys three-quarters of Canadian exports, for the tepid growth

in Canada. High U.S. unemployment is holding back spending by

individuals and businesses, it said.

While exporters may take a beating, the bank sounded upbeat

on domestic consumer spending and business investment.

"Going forward, consumption growth is expected to remain

solid and business investment to rise strongly," it said.

"Both are being supported by accommodative credit

conditions, which have eased in recent weeks mainly owing to

sharp declines in global bond yields."

The Bank of Canada was the first Group of Seven central

bank to hike interest rates following the global financial

crisis. It lifted its policy rate on June 1 from an all-time

low of 0.25 percent and raised rates again on July 20.

Markets had seen Wednesday's rate hike as a close call

because of rising fears of another U.S. economic downturn.

Twenty-five out of 41 forecasters in a Reuters poll

predicted a hike, and markets on Tuesday were pricing in an

about a 63 percent probability of a hike based on yields on

overnight index swaps, according to a Reuters calculation

.

Most analysts have been expecting the bank to hold rates

steady in October and December and possibly longer as it tracks

developments elsewhere.

(Reporting by Louise Egan and John McCrank)

CANADA; ECONOMY/RATES (UPDATE 1)

* Bank of Canada raises rates to 1 percent

* Says any further hikes must be "carefully considered"

* Sees slightly more gradual economic recovery in Canada