"The ECB's bond purchases will clearly have a positive effect. Monetary easing may have a positive impact on the economies that are related to the region where such a policy is applied," said Piroska Nagy, an economist at the European Bank for Reconstruction and Development (EBRD), reports Bloomberg.
Most East European states do not use the euro, but will benefit because the ECB measures encourage cross-border lending and stimulate economic growth in the monetary union, their main trading partner.
Central banks in Eastern Europe are already occupied cope with withdrawal effect of stimulus measures by the US Federal Reserve and shock decision of the Swiss National Bank to remove the ceiling rate of 1.2 francs / euro, which has increased the cost of credit in francs.
Poland and Hungary currencies have depreciated strongly last week, the two countries with the largest share of housing loans in Swiss francs. Zloty and forint depreciated earlier this year by 1.1% and 0.7%.
Eastern Europe yet suffered the impact of the economic slowdown in the eurozone, but the collapse of oil prices has increased pressure lowering prices. Currently, Poland and Hungary is in deflation, while in neighboring countries inflation is at record lows.
ECB incentives could allow East European states to maintain borrowing costs at record lows, and in some cases their continued decline, thereby supporting economic growth, said Neil Schearing, chief economist for emerging markets at Capital Economics, in London.
"Monetary policy in Central and Eastern Europe will remain more relaxed than would have been otherwise. Poland and Romania could further reduce interest rates, while the Czech Republic may adjust the threshold appreciation of the crown," said Schearing.
Additional liquidity from the ECB could encourage Western European banks that dominate nearly two-thirds of the banking industry in the East, the banks and Erste Group Bank and Societe Generale, reduce capital withdrawals in the region, said economist.
Draghi involve risks Initiative for Eastern Europe, as well as inflows of speculative bubbles and bond markets, the central bank governor warned last week of Poland, Marek Belka. Poland has maintained last week monetary policy rate at 2%.
ECB will assess the key interest rate at 0.05% monetary policy meeting on Thursday, which most analysts anticipate that the institution will announce the launch of a program to purchase government bonds worth 550 billion euros.
Another risk is that the bond purchase program of the ECB to confirm the extent not already taken into account by active investors in Eastern European markets, said Helena Horské, director of research at Raiffeisen Bank in Prague.
However, the pace of economic growth in Central Europe and the three Baltic states will remain solid 2.6% this year, according to estimates released Monday EBRD. In Southeast Europe, economic advance will be 2.2% in 2015.
An optimistic effects conclude we will undertake measures that 2015 is the European Central Bank Eastern Europe has reason to enjoy the purchases of bonds of the European Central Bank (ECB), which would contribute to economic growth and to avoid deflation, unlike of Switzerland, to where incentives will result in appreciation of the franc.
P.S. And so we try to achieve our goals we have each one.
WAIT&SEE
miercuri, 21 ianuarie 2015
luni, 19 ianuarie 2015
Traders and speculators week 19-25/01/2015
Week January 19 to 25 in terms of European finance (and the European Union policy) is very delicate, because following the one in which it was decided to renounce the support threshold of 1.2 euro and the Swiss franc, the National Bank Swiss (weekend are early elections in Greece). There are very few of us little ones, who dream to give the stock market boom that can predict or estimate how scholarships will perform following measures already taken and which will be applied by the European Central Bank (NBS, ECB, NBR) and prefer to restrain myself from doing predictions of this week. A week with inspiration!
luni, 12 ianuarie 2015
being updated
To develop a more real estimation regarding how the ring will be closed from Bucharest, do I need a documentary on Reuters and AFP - 5 or 7 hours.
duminică, 11 ianuarie 2015
Forecast for Monday stock market developments - Part II
News from Reuters optimistic the 2015 budget of the Government of Japan does not think it will alleviate European and Asian stock markets (on 12.01), an essential argument for continuing the decline started Friday quotation reducing support barrel again below $ 50 closing at 48.36 (-1.19%). If you look at the graphs on Friday, the FTSE has increased by 15.00 decrease in DAX and CAC40 after 15.30 (proportional to the evolution of the US market, which opened at 16.00). We hope that today will be more positive news like the Japanese budget to offset negative events in Paris Friday, but did not happen. The 2nd argument to decrease, as former Russian President Gorbachev statement published Saturday in the German press. There will be spectacular falls, between 0.4 and 0.8 percentage - A week with accumulations $$$
sâmbătă, 10 ianuarie 2015
Estimate for 12.01 on the BSE, CAC40, DAX and FTSE
Following Friday's events in France, on Monday all decrease estimate, just as the stock market in Bucharest will be more pronounced on Friday there were large volumes traded just below my expectations, about 5.16 mil. Euro and closed after Bucharest, European markets has increased and decreased in the State closed down 171 points all. History repeats, meaning that the stock exchange in Romania lags far back to the US, France. England and Germany. Back in the second half of tomorrow to continue on this post (pietele europene).
miercuri, 7 ianuarie 2015
evolution thursday of the BSE, FTSE, CAC40, DAX but NYSE after 15-16
Weather (low, average 1.5 - 2.5%) one day favorable for speculators who can afford to play with money, people like me to analyze and recommend only invest after the situation calms down in France and other negative news which can upset markets hopefully will not appear in the short term. Respect for those who have gone or are suffering from the events of Paris, stop me comments. RIP & HEALTH!
marți, 6 ianuarie 2015
After declines will increase! but in the short term we need calm $$$ :)
Disorientation admit the existence of the financial market in Romania today (especially in the capital market) and negative news from foreign markets me I could not imagine, but at the same time, we hope alive, he would join a trend positive somewhere in February-March 2015, when most economic sectors will restart (mainly agriculture and construction) and will help change the downward trend of the moment, in one ascending to 2015. I looked on estimates of major players in the SIBEX futures contracts for March and June, and the apathy of a ring from Sibiu blame the effect of the winter holidays, which will end today. Wanting to complete a positive note this post is gratifying that yesterday in a holiday important to us, Orthodox Christians, to run a volume of shares expressed in approximately 6.8 million euro (BSE ), which is not bad for this time. P.S. I keep posting previous estimates for this week. A beautiful day, you have! (07.01.2015)
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