\nBanca Na\u0163ional\u0103 a Elve\u0163iei a redus dob\u00e2nda de politic\u0103 monetar\u0103 la zero \u00een \u00eencercarea de a tempera aprecierea monedei na\u0163ionale, care a crescut puternic pe fondul tensiunilor comerciale globale, noteaz\u0103 FT.<\/p>\n
\nReducerea cu 25 de puncte de baz\u0103, anun\u0163at\u0103 joi de consiliul de conducere al b\u0103ncii centrale, era anticipat\u0103 de economi\u015fti.<\/p>\n
\n\u0162ara are at\u00e2t o infla\u0163ie redus\u0103, \u00een timp ce francul elve\u0163ian se accelereaz\u0103 intens deoarece este considerat activ de refugiu \u00een contextul tensiunilor interna\u0163ionale.<\/p>\n
\nDecizia vine \u00een contextul \u00een care infla\u0163ia anual\u0103 a sc\u0103zut \u00een mai la minus 0,1%, prima valoare negativ\u0103 din ultimii patru ani. Aprecierea francului, cu 10% fa\u0163\u0103 de dolar \u00een acest an, a redus semnificativ costul importurilor, accentu\u00e2nd presiunile dezinfla\u0163ioniste.<\/p>\n
\nCre\u015fterea brusc\u0103 a francului, supranumit \u201eSwissie\u201d, a complicat deciziile de politic\u0103 monetar\u0103. SNB \u00eencearc\u0103 s\u0103 reduc\u0103 presiunea asupra monedei f\u0103r\u0103 a provoca acuza\u0163ii de manipulare valutar\u0103 din partea SUA, care a plasat Elve\u0163ia pe lista de supraveghere \u00eenc\u0103 din primul mandat al lui Trump.<\/p>\n
\nAnali\u015ftii consider\u0103 c\u0103 reducerile de dob\u00e2nd\u0103 sunt o solu\u0163ie mai sigur\u0103 din punct de vedere diplomatic dec\u00e2t interven\u0163iile directe pe pia\u0163a valutar\u0103.<\/p>\n
\nElve\u0163ia a introdus pentru prima dat\u0103 dob\u00e2nzile negative \u00een decembrie 2014, c\u00e2nd SNB a stabilit rata dob\u00e2nzii la depozite la minus 0,25%, pentru a opri aprecierea francului pe fondul influxului de capital.<\/p>\n
\nBanca central\u0103 a cobor\u00e2t ulterior rata la minus 0,75%, cel mai sc\u0103zut nivel din lume. Politica a fost men\u0163inut\u0103 mai bine de \u015fapte ani, devenind una dintre cele mai lungi perioade de dob\u00e2nd\u0103 negativ\u0103 din istorie, p\u00e2n\u0103 c\u00e2nd a fost \u00eencheiat\u0103 \u00een 2022.<\/p>\n","protected":false},"excerpt":{"rendered":"
Banca Na\u0163ional\u0103 a Elve\u0163iei a redus dob\u00e2nda de politic\u0103 monetar\u0103 la zero \u00een \u00eencercarea de a tempera aprecierea monedei na\u0163ionale, care a crescut puternic pe fondul tensiunilor comerciale globale, noteaz\u0103 FT. Reducerea cu 25 de puncte de baz\u0103, anun\u0163at\u0103 joi de consiliul de conducere al b\u0103ncii centrale, era anticipat\u0103 de economi\u015fti. \u0162ara are at\u00e2t o […]<\/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":[7458,7553,9,184,340,8355],"class_list":["post-237665","post","type-post","status-publish","format-standard","hentry","category-actualitate","tag-dobanda","tag-elvetia","tag-guvern","tag-inflatie","tag-preturi","tag-reduceri"],"_links":{"self":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/posts\/237665","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=237665"}],"version-history":[{"count":0,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/posts\/237665\/revisions"}],"wp:attachment":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=237665"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=237665"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=237665"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}