加拿大央行货币政策报告-2023年7月-28页

MonetaryPolicyReportJuly2023Canada’sinflation-controlstrategyInflationtargetingandtheeconomyTheBanknormallycarriesoutmonetarypolicythroughchangesinthetargetfortheovernightrateofinterest(thepolicyrate).TheTheobjectiveofCanada’smonetarypolicyistopromotetheBankalsohasarangeofmonetarypolicytoolsitcanusewhentheeconomicandfinancialwell-beingofCanadians.Canada’spolicyrateisatverylowlevels.Thesetoolsconsistofguidanceonexperiencewithinflationtargetingsince1991hasshownthatthethefutureevolutionofthepolicyrate,large-scaleassetpurchasesbestwaythatmonetarypolicycanachievethisgoalisbymaintaining(quantitativeeasingandcrediteasing),fundingforcreditmeasures,alowandstableinflationenvironment.Doingsofostersconfidenceandnegativepolicyrates.Thepotentialuseandsequencingoftheseinthevalueofmoneyandcontributestosustainedeconomicgrowth,toolswoulddependontheeconomicandfinancialmarketcontext.astrongandinclusivelabourmarketandimprovedlivingstandards.AlloftheBank’smonetarypolicytoolsaffecttotaldemandforIn2021,theGovernmentofCanadaandtheBankofCanadaCanadiangoodsandservicesthroughtheirinfluenceonmarketrenewedtheflexibleinflation-targetingstrategyofthemonetarypolicyinterestrates,domesticassetpricesandtheexchangerate.Theframeworkforafurtherfive-yearperiod,endingDecember31,2026.1balancebetweenthisdemandandtheeconomy’sproductioncapa...