DATO INFLAZIONE ....SOTTO ATTESE....DOLLARO FORTE E BORSA CHE CERCA IL RECUPERO SPERANDO IN DRAGHI....E NEL SUO QE (PROBABILITA' POU' ALTE VISTO IL DATO)
LA CINA E' DISPERATA,...E TAGLIA IL COEFFICIENTE DI RISERVA OBBLIGATORIA..
China's central bank reduced the amount of cash that banks must hold as reserves for the fifth time since Feb. 2015, as it seeks to revive a slowing economy.
The People's Bank of China said on its website that it would cut the reserve requirement ratio by 50 basis points for all banks, taking the ratio to 17 percent for the country's biggest lenders. The cut is effective March 1.
China last cut RRR on Oct. 23, when it also reduced interest rates by 25 basis points .
L'EUROPA DEL MERCATO AZIONARIO SI AGGRAPPA ALLA DEFLAZIONE CON CONSEGUENTE INTERVENTO MONETARIO DI DRAGHI....E
DOLLARO FORTE (PROBLEMI PER LA CINA)
ORO FORTE
YEN FORTE
EURO DEBOLISSIMO CHE PERMETTE AI MERCATI AZIONARI DI SOPRAVVIVERE recuperando dai minimi...ma tutti temono che in Europa i mercati reagisca male a maggiori stimoli monetari così come e' accaduto in Giappone. ..
Euro-area consumer prices plunged the most in a year in February and a core measure also dropped, adding to deflation concerns that are piling pressure on the European Central Bank to expand stimulus in March.
The inflation rate in the 19-nation bloc declined to minus 0.2 from a positive reading of 0.3 percent in January, according to data published Monday. Core inflation, which strips out volatile elements such as food and energy, was at 0.7 percent, down from 1 percent in the prior month.
The deteriorating inflation backdrop comes just over a week before ECB policy makers led by President Mario Draghi gather in Frankfurt for a meeting at which they’ve said they’ll review if their current stimulus is enough. Price growth has fallen short of the ECB’s goal of just below 2 percent for more than two years amid a drop in oil prices, pushing the central bank to take more and more aggressive action in response.
“If we look at Europe at the moment, the danger we face is without any doubt deflation not inflation,” ECB Governing Council member Francois Villeroy de Galhau said in an interview on Sunday. “If the low energy prices have sustainable long-term effects, we have to act. That seems to be the case, but we will see in March.”
Both the headline and the core measures of inflation were weaker than economists had forecast. The main rate was projected to come in at zero, while the core rate was expected to slip to 0.9 percent.
Disappointing Data
The euro-wide number follows disappointing data from Germany, France and Spain. In Germany, the European Union-harmonized inflation rate dropped to minus 0.2 percent from 0.4 percent. The rate in France fell to minus 0.1 percent, while Spanish prices slid 0.9 percent. All readings were worse than economists had forecast.
To kickstart a revival in inflation, the ECB has already cut its deposit rate to minus 0.3 percent and is pumping 60 billion euros ($66 billion) a month into the economy via asset purchases. Central bank officials have said they are ready to expand stimulus if needed to counter the risk of low inflation becoming entrenched in the region’s economy.
This puts the spotlight on appearances from policy makers before the ECB enters its week-long quiet period ahead of the March 10 meeting. Executive Board members Sabine Lautenschlaeger and Benoit Coeure are both slated this week; so are Governing Council members Klaas Knot and Villeroy de Galhau.
“With inflation expectations low and falling, the threat of a more persistent bout of deflation remains very real,” Jessica Hinds, an economist at Capital Economics Ltd. in London wrote in a client note before the data. “As such, the ECB cannot afford to
disappoint expectations of more stimulus in March.”
China's central bank reduced the amount of cash that banks must hold as reserves for the fifth time since Feb. 2015, as it seeks to revive a slowing economy.
The People's Bank of China said on its website that it would cut the reserve requirement ratio by 50 basis points for all banks, taking the ratio to 17 percent for the country's biggest lenders. The cut is effective March 1.
China last cut RRR on Oct. 23, when it also reduced interest rates by 25 basis points .
L'EUROPA DEL MERCATO AZIONARIO SI AGGRAPPA ALLA DEFLAZIONE CON CONSEGUENTE INTERVENTO MONETARIO DI DRAGHI....E
DOLLARO FORTE (PROBLEMI PER LA CINA)
ORO FORTE
YEN FORTE
EURO DEBOLISSIMO CHE PERMETTE AI MERCATI AZIONARI DI SOPRAVVIVERE recuperando dai minimi...ma tutti temono che in Europa i mercati reagisca male a maggiori stimoli monetari così come e' accaduto in Giappone. ..
Euro-area consumer prices plunged the most in a year in February and a core measure also dropped, adding to deflation concerns that are piling pressure on the European Central Bank to expand stimulus in March.
The inflation rate in the 19-nation bloc declined to minus 0.2 from a positive reading of 0.3 percent in January, according to data published Monday. Core inflation, which strips out volatile elements such as food and energy, was at 0.7 percent, down from 1 percent in the prior month.
The deteriorating inflation backdrop comes just over a week before ECB policy makers led by President Mario Draghi gather in Frankfurt for a meeting at which they’ve said they’ll review if their current stimulus is enough. Price growth has fallen short of the ECB’s goal of just below 2 percent for more than two years amid a drop in oil prices, pushing the central bank to take more and more aggressive action in response.
“If we look at Europe at the moment, the danger we face is without any doubt deflation not inflation,” ECB Governing Council member Francois Villeroy de Galhau said in an interview on Sunday. “If the low energy prices have sustainable long-term effects, we have to act. That seems to be the case, but we will see in March.”
Both the headline and the core measures of inflation were weaker than economists had forecast. The main rate was projected to come in at zero, while the core rate was expected to slip to 0.9 percent.
Disappointing Data
The euro-wide number follows disappointing data from Germany, France and Spain. In Germany, the European Union-harmonized inflation rate dropped to minus 0.2 percent from 0.4 percent. The rate in France fell to minus 0.1 percent, while Spanish prices slid 0.9 percent. All readings were worse than economists had forecast.
To kickstart a revival in inflation, the ECB has already cut its deposit rate to minus 0.3 percent and is pumping 60 billion euros ($66 billion) a month into the economy via asset purchases. Central bank officials have said they are ready to expand stimulus if needed to counter the risk of low inflation becoming entrenched in the region’s economy.
This puts the spotlight on appearances from policy makers before the ECB enters its week-long quiet period ahead of the March 10 meeting. Executive Board members Sabine Lautenschlaeger and Benoit Coeure are both slated this week; so are Governing Council members Klaas Knot and Villeroy de Galhau.
“With inflation expectations low and falling, the threat of a more persistent bout of deflation remains very real,” Jessica Hinds, an economist at Capital Economics Ltd. in London wrote in a client note before the data. “As such, the ECB cannot afford to
disappoint expectations of more stimulus in March.”
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1 commento:
Il fatto che i mercati scontano un'inflazione nel 2021 all'1,37% esula quindi in parte dalla quotazione del petrolio. E' un problema strutturale. I mercati hanno ben chiaro che l'Eurozona sta vivendo una crisi della domanda e finché non arriveranno nuove risorse alla domanda (e quindi in particolare al ceto medio-basso della popolazione) attraverso un aumento del reddito o una diminuzione fiscale che ne aumenti il potere di acquisto, sarà difficile immaginare un futuro con un'inflazione “sana” intorno al 2%.
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