ЕЦБ набирает обороты

Наблюдавшийся до сих пор в США оживлённый экономический рост создавал для Европейского центробанка глобальный фон, на котором можно было осуществлять повышение процентных ставок с очень низкого уровня с медленной и постоянной скоростью. Это ограничивает разногласия с политическими лидерами еврозоны, но работа делается.

Вскоре данная ситуация изменится. Последние примечательные новости из США указывают на то, что экономика резко движется в сторону понижения, что станет очевидным в ближайшие месяцы. Если ЕЦБ сейчас не наберёт обороты по увеличению процентных ставок, задача обеспечения нейтралитета процентных ставок может стать политически невыполнимой, угрожая достижению цели банка – стабильности цен.

ЕЦБ должен действовать с большим рвением не потому, что сейчас видны хорошие перспективы будущего роста, а по обратной причине: опасению, что темп роста европейской экономики замедлится, ограничивая тем самым возможность будущего повышения ставок. В самом деле, уже до внезапного снижения темпов роста экономики США всё большее число членов Совета Правления ЕЦБ стали приходить к заключению, что для достижения нейтралитета валют следует ускорить темп повышения процентных ставок.

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