BCE y BdI dejan tasas sin cambio

Genevieve Signoret & Patrick Signoret

El Banco de Inglaterra dejó sin cambio su tasa de política monetaria en 0.50%, como anticipábamos. Como es costumbre, su comunicado no ofreció detalles. El Banco Central Europeo (BCE) nos sorprendió al dejar su tasa sin cambio (0.75%) a pesar de que sus previsiones de crecimiento fueron más negativas que las de junio. Su decisión parece basarse en el hecho de que los precios de energía y algunas alzas de tasas de impuestos probablemente impedirán que la tasa de inflación termine por debajo de 2% en 2012.

Del comunicado de Mario Draghi:

Owing to high energy prices and increases in indirect taxes in some euro area countries, inflation rates are expected to remain above 2% throughout 2012, to fall below that level again in the course of next year and to remain in line with price stability over the policy-relevant horizon. Consistent with this picture, the underlying pace of monetary expansion remains subdued. Inflation expectations for the euro area economy continue to be firmly anchored in line with our aim of maintaining inflation rates below, but close to, 2% over the medium term. Economic growth in the euro area is expected to remain weak, with the ongoing tensions in financial markets and heightened uncertainty weighing on confidence and sentiment. A renewed intensification of financial market tensions would have the potential to affect the balance of risks for both growth and inflation.

[…] The September 2012 ECB staff macroeconomic projections for the euro area foresee annual real GDP growth in a range between -0.6% and -0.2% for 2012 and between -0.4% and 1.4% for 2013. Compared with the June 2012 Eurosystem staff macroeconomic projections, the ranges for 2012 and 2013 have been revised downwards.

BCE y BdI dejan tasas sin cambio.
América, Asia y Europa: Tasa de política monetaria, hasta 6 sep 2012 (% per annum)

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