\nDac\u0103 2020 a fost anul \u00eengrijor\u0103rilor privind colapsul economic provocat de pandemie, iar prima jum\u0103tate a acestui an a fost caracterizat\u0103 de temeri privind infla\u0163ia post-pandemie, pentru un num\u0103r \u00een cre\u015ftere de traderi noua cauz\u0103 de nelini\u015fte este un cuv\u00e2nt care nu a mai fost men\u0163ionat prea des din anii 1970: stagfla\u0163ie, scrie Washington Post.<\/p>\n
\nAcesta descrie o economie cu cre\u015ftere redus\u0103 sau zero \u015fi rate ale infla\u0163iei peste normal. Iain Macleod, un politician britanic, a inventat termenul \u00een 1965. De ce este din nou men\u0163ionat acesta? Totul a \u00eenceput cu temerile privind infla\u0163ia, care a crescut puternic \u00een multe p\u0103r\u0163i ale lumii \u00eencep\u00e2nd cu prim\u0103vara acestui an. \u00cen urma ridic\u0103rii restric\u0163iilor anti-coronavirus, cererea de consum a revenit \u00een for\u0163\u0103, aceasta lovindu-se \u00eens\u0103 rapid de penurii pe fondul bloc\u0103rii lan\u0163urilor de aprovizionare.<\/p>\n
\nB\u0103ncile centrale \u015fi majoritatea economi\u015ftilor au argumentat c\u0103 presiunile infla\u0163ioniste vor fi probabil tranzitorii, \u00eens\u0103 apari\u0163ia tulpinii delta a \u00eencetinit cre\u015fterea economic\u0103 \u015fi a sporit presiunile asupra lan\u0163urilor de aprovizionare. \u00cen Europa, Asia \u015fi alte p\u0103r\u0163i ale lumii au ap\u0103rut crize energetice care \u00eemping \u00een sus pre\u0163urile \u015fi \u00eei determin\u0103 chiar \u015fi pe cei mai optimi\u015fti s\u0103 se team\u0103 c\u0103 infla\u0163ia ar putea persista o vreme mai \u00eendelungat\u0103 dec\u00e2t se crezuse anterior.<\/p>\n
\nLa \u00eenceputul lunii septembrie, investitorii au luat cu asalt activele considerate a performa bine \u00eentr-un context de stagfla\u0163ie, ac\u0163iunile tech \u00eenregistr\u00e2nd intr\u0103ri masive, iar titlurile americane de datorie ie\u015firi \u00eensemnate, potrivit Reuters.<\/p>\n
\nAnali\u015ftii BofA recomandau la acea vreme ac\u0163iunile cele mai importante ca cel mai bun instrument de protec\u0163ie pe fond de stagfla\u0163ie.<\/p>\n
\nMai recent, traderii au reac\u0163ionat \u00een fa\u0163a riscurilor legate de stagfla\u0163ie privind c\u0103tre francul elve\u0163ian, scrie Bloomberg. Ieri, moneda a atins un maxim pe 11 luni \u00een raport cu euro. Potrivit anali\u015ftilor Deutsche Bank, francul elve\u0163ian ofer\u0103 o pro\u00adtec\u00ad\u0163ie bun\u0103 gra\u0163ie b\u0103ncii centrale a \u0163\u0103rii \u015fi gra\u00addului mai redus de expunere a eco\u00adnomiei elve\u0163iene la presiunile infla\u0163ioniste.<\/p>\n
\nAv\u00e2nd \u00een vedere c\u0103 banca central\u0103 elve\u0163ian\u0103 are un mandat strict privind infla\u0163ia, aceasta i-ar putea permite francului s\u0103 se aprecieze ca ap\u0103rare \u00eempotriva infla\u0163iei importate.<\/p>\n
\nAceasta \u00eenseamn\u0103 c\u0103 un pilon cheie de rezisten\u0163\u0103, interven\u0163iile monetare ale b\u0103ncii centrale elve\u0163iene pe pia\u0163\u0103 va sl\u0103bi, \u00eencuraj\u00e2ndu-i probabil pe investitori s\u0103 se orienteze \u015fi mai mult c\u0103tre franc.<\/p>\n
\nPotrivit Goldman, \u00een cazul \u00een care temerile privind stagfla\u0163ia vor \u00eencepe s\u0103 zguduie \u00een mod semnificativ pie\u0163ele de ac\u0163iuni, companiile cu o capacitate mai mare de a trece mai departe costurile vor avea de c\u00e2\u015ftigat.<\/p>\n","protected":false},"excerpt":{"rendered":"
Dac\u0103 2020 a fost anul \u00eengrijor\u0103rilor privind colapsul economic provocat de pandemie, iar prima jum\u0103tate a acestui an a fost caracterizat\u0103 de temeri privind infla\u0163ia post-pandemie, pentru un num\u0103r \u00een cre\u015ftere de traderi noua cauz\u0103 de nelini\u015fte este un cuv\u00e2nt care nu a mai fost men\u0163ionat prea des din anii 1970: stagfla\u0163ie, scrie Washington Post.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[510],"tags":[23143,184,14847,11128],"class_list":["post-198049","post","type-post","status-publish","format-standard","hentry","category-actualitate","tag-adapost","tag-inflatie","tag-pandemie","tag-post"],"_links":{"self":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/posts\/198049","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=198049"}],"version-history":[{"count":0,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/posts\/198049\/revisions"}],"wp:attachment":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=198049"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=198049"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=198049"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}