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| ECB key rate 2009-2011. |
policy rates in the euro area is to be lifted immediately before. So said the President of the European Central Bank (ECB), Jean Claude Trichet that a rise in the benchmark interest rate to the next monetary policy meeting of the Federal Reserve on 7 April 2011 was possible. Inflationary pressures have increased in recent weeks and it would be a "significant vigilance" is required.
The term "substantial vigilance" (engl. strong vigilance), the European Central Bank has already used several times between 2005 until 2007, when they adjusted the policy rates upward. In February 2011 the annual inflation in the euro zone located at 2.4 percent, said the European Statistical Office Eurostat the month beginning March 2011.
But consumer prices rise since December 2010 more than two percent, endangering price stability in the euro zone, according to Governing Association. The central bank says up to an inflation rate of two percent of stable prices. If this goal was threatened in the past, the ECB had provided very consistent for a growing policy rates.
inflation forecast 2011/2012
predicted moment, the European Central Bank (ECB) an average inflation for 2011 of between 2.0 percent and 2.6 percent. For the year 2012 the monetary authorities expect an increase in consumer prices between 1.0 percent and 2.4 percent. Compared to the December 2010 forecast, the spans were revised upwards.
policy rates in the euro area had been reduced from 4.25 percent to 1.00 percent between 9 October 2008 and the 7th May 2009. Since then, the key rate is at historically low levels for the existing European Central Bank for 13 years.
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