\n\u00cen timp ce economi\u015ftii dezbat efectele r\u0103zboaielor comerciale asupra infla\u0163iei, Elve\u0163ia a intrat deja \u00eentr-o zon\u0103 periculoas\u0103: infla\u0163ia anual\u0103 a sc\u0103zut \u00een mai sub zero, la -0,1%. Acest fenomen ar putea determina Banca Na\u0163ional\u0103 a Elve\u0163iei (SNB) s\u0103 reduc\u0103 dob\u00e2nda chiar \u015fi sub zero, la \u015fedin\u0163a din 19 iunie, iar o nou\u0103 reducere \u00een teritoriu negativ este considerat\u0103 posibil\u0103 \u00een lunile urm\u0103toare, scrie Bloomberg.<\/p>\n
\nSNB (Banca Na\u0163ional\u0103 a Elve\u0163iei \u2013 n.r) \u00eencearc\u0103 s\u0103 opreasc\u0103 aprecierea prea puternic\u0103 a francului elve\u0163ian fa\u0163\u0103 de euro, deoarece un franc mai scump face exporturile mai pu\u0163in competitive. Dob\u00e2nzile negative, dintre 2015 \u015fi 2022, r\u0103m\u00e2n o op\u0163iune de politic\u0103 monetar\u0103, de\u015fi nu sunt pe placul nim\u0103nui. Potrivit anali\u015ftilor, SNB ar putea reintroduce dob\u00e2nzile negative chiar din toamn\u0103.<\/p>\n
\nInfla\u0163ia negativ\u0103 este un semnal de alarm\u0103 nu doar pentru Elve\u0163ia, ci \u015fi pentru Zona Euro, care se confrunt\u0103 cu o sc\u0103dere a infla\u0163iei sub \u0163inta B\u0103ncii Centrale Europene (BCE). \u00cen mai, infla\u0163ia \u00een zona euro a cobor\u00e2t la 1,9%, sub pragul de 2% urm\u0103rit de BCE. Aceasta a dus la o sc\u0103dere important\u0103 a costurilor serviciilor \u015fi a pre\u0163urilor m\u0103rfurilor, ceea ce pune presiune pe b\u0103ncile centrale pentru reducerea rapid\u0103 a dob\u00e2nzilor.<\/p>\n
\nBCE a redus recent dob\u00e2nda-cheie la 2%, pentru a opta oar\u0103 consecutiv, \u00een \u00eencercarea de a sus\u0163ine economia \u015fi de a \u00eempiedica o sc\u0103dere prea abrupt\u0103 a pre\u0163urilor. Dar \u00eentrebarea este dac\u0103 aceast\u0103 politic\u0103 va fi suficient\u0103 pentru a evita o perioad\u0103 prelungit\u0103 de defla\u0163ie, o situa\u0163ie care ar putea bloca cre\u015fterea economic\u0103 pe termen lung.<\/p>\n
\nPe l\u00e2ng\u0103 aceasta, aprecierea euro fa\u0163\u0103 de dolar, care a crescut cu peste 10% \u00een acest an, pune presiune suplimentar\u0103 pe exportatori, f\u0103c\u00e2nd produsele europene mai scumpe pe pie\u0163ele interna\u0163ionale.<\/p>\n
\nAt\u00e2t Elve\u0163ia c\u00e2t \u015fi Zona Euro se confrunt\u0103 cu provoc\u0103ri majore: infla\u0163ia sc\u0103zut\u0103 \u015fi riscul de defla\u0163ie pot aduce dob\u00e2nzi negative \u00eenapoi pe masa deciden\u0163ilor, \u00een ciuda reticen\u0163ei generale fa\u0163\u0103 de aceast\u0103 m\u0103sur\u0103. Experien\u0163a Elve\u0163iei ar trebui s\u0103 fie un semnal pentru Europa c\u0103 nu poate ignora aceste semnale \u015fi trebuie s\u0103 se preg\u0103teasc\u0103 pentru o perioad\u0103 economic\u0103 dificil\u0103.<\/p>\n","protected":false},"excerpt":{"rendered":"
\u00cen timp ce economi\u015ftii dezbat efectele r\u0103zboaielor comerciale asupra infla\u0163iei, Elve\u0163ia a intrat deja \u00eentr-o zon\u0103 periculoas\u0103: infla\u0163ia anual\u0103 a sc\u0103zut \u00een mai sub zero, la -0,1%. Acest fenomen ar putea determina Banca Na\u0163ional\u0103 a Elve\u0163iei (SNB) s\u0103 reduc\u0103 dob\u00e2nda chiar \u015fi sub zero, la \u015fedin\u0163a din 19 iunie, iar o nou\u0103 reducere \u00een teritoriu […]<\/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":[8830,187,7553,471,184,8327],"class_list":["post-237311","post","type-post","status-publish","format-standard","hentry","category-actualitate","tag-bce","tag-dobanzi","tag-elvetia","tag-europene","tag-inflatie","tag-scadere"],"_links":{"self":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/posts\/237311","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=237311"}],"version-history":[{"count":0,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/posts\/237311\/revisions"}],"wp:attachment":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=237311"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=237311"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=237311"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}