欧州中央銀行は、銀行金利？を史上最低の0'5%に値下げ、引き下げ
El BCE rebaja los tipos de interés al mínimo histórico del 0,50%
Draghi aplaza actuaciones concretas para ayudar a la financiación de las pymes
Dice que está "frustrado" por los fallos en la transimisión de su política monetaria
"No puedes ir por ahí repartiendo dinero desde un helicóptero", advierte
El instituto emisor contempla una tasa negativa a los depósitos
CLAUDI PÉREZ / El País Bratislava 2 MAY 2013 - 15:38 CET
The ECB cut interest rates to a record low of 0.50%
Draghi postponed concrete actions to help SMEs financing
He says he is "frustrated" by the failures of monetary policy transimisión
"You can not go around handing out money from a helicopter," says
The central bank provides a negative rate on deposits
CLAUDI PEREZ / The Country Bratislava 2 MAY 2013 - 15:38 CET
With other monetary authorities liquidity full open bar and extraordinary measures, and tucked Europe into a new recession, the European Central Bank (ECB) could not remain totally abstinent. The Eurobanco Mario Draghi chaired this afternoon announced a cut in official interest rates to 0.5%: new low in an era that is full of supposedly historical records, often for worse. In addition, the Central Bank has reduced the interest it charges for emergency loans (so-called marginal lending facility) of 1.5% to 1% and extended for at least another year extraordinary measures to ensure that banks follow having unlimited liquidity. However, it has announced measures to help SMEs.
"'ll Watch closely the next evolution of the economy and be ready to act if necessary" said Draghi, who has acknowledged his "frustration" about the problems in its monetary policy decisions (rate cut) and the improvement in the credit markets transmitted. In the chapter on future events are possible measures for the financing of SMEs, for which it has set up a team, and the imposition of a negative rate on deposits. In any case, the ECB president has warned that the eurozone and unlike what happens in other economic areas, "you can not go around handing out money from a helicopter."
moreThe risk premium brand thanks to the ECB minimum annualU.S. commitment to the encouragement to stand up to the crisisFrance and Italy are allied against austerity without growthNo credit no paradise
In theory, monetary conditions have never been so relaxed. But in practice, the Spanish and Italian companies face a credit tap closure, that when open is also high interest compared with German and Austrian companies. The experts call this phenomenon "financial fragmentation". It's actually like there are two parallel worlds within the eurozone: one that is expensive to borrow (and therefore invest, create jobs and emerge from the recession) and another who lives in cabin crisis first: Germany saved between 8,000 and 10,000 million euros, according to data handled by Klaus Regling (President of the European rescue mechanism) in the last three years because of the lower costs of funding.
Analysts expected the press conference following the Governing Council meeting in Bratislava (Slovakia), Draghi give more clues about how it intends to help the eurozone out of the hole we're getting into, with inflation rapidly the low riding into territory unemployment depression, especially in the South, and the entire continent paralyzed by a strange combination of severe fiscal austerity and, in practice, austerity also by the monetary side, manifested in some types of much higher interest to businesses and consumers in the South than for their counterparts in the core of the eurozone. The discount rate is a first signal but very weak: stuck in territory 0%, the official price of money has little traction, become a psychological salve rather than anything else.
"There are different situations in the euro area," Draghi has begun to admit before acknowledging that "business cycles are not the same, are not synchronized". "The same bank may issue debt reach 150 points cheaper than in Milan and Munich is the same bank," he told reporters synthesized. However, although "monetary policy measures may benefit some more than others", is convinced that the rate cut "benefits everyone." Also in Germany, where Chancellor Angela Merkel has defended a few days ago that his country was better to raise the price of money to lower it. But this did not question the supposed independence of the ECB: "I do not think your comment was made to influence the governing council," he said.
Throughout the crisis, the ECB has done everything in his power to prevent the financial turmoil had just as dawn rosary, but has been much more timid to pull the car when a eurozone nearly 20 million unemployed, in which the slimming economic problems is metamorphosing into a political crisis and social concern. And the ECB pointed out very timidly for their loses from the comparison with the U.S. and Japan, whose activism has allowed monetary recovery in Europe or is or was expected-and, ultimately, for not doing his job.
The ECB returns to accept debt as collateral Cyprus
The ECB will again accept Cyprus debt as collateral to lend money to banks in its refinancing operations, as reported by the Monetary Authority of the euro in a statement. To do this, the debt of this country, rescued last March, "will be subject to special cuts."
With this decision suspending the implementation of a minimum credit rating requirements for Cyprus debt used as collateral in refinancing operations.
The ECB has taken the decision in the memorandum of understanding agreed between Cyprus and the European Commission, which reflects the program of financial and economic adjustment for Cyprus, which is appropriate, according to the Central Bank.
0 件のコメント:
コメントを投稿