SEGOVIA
European Central Bank President Mario Draghi, at a press
conference following the rate cut announced by the central bank Thursday, said
loan growth in the euro area remains subdued
"To a large extent, subdued loan
growth reflects the current cyclical situation, heightened risk aversion, and
the ongoing adjustment in the balance sheets of householders and enterprises,
which weigh on credit demand," he said
Looking ahead, Draghi said it's
"essential for banks to continue to strengthen their resilience where it is
needed
" He added that the ECB welcomed decisions taken at the European Union
summit last week to address financial-market tensions, restore confidence and
revive growth
He also said the ECB welcomed the possibility of a single
supervisory mechanism to recapitalize banks directly
He
said that further downside risks to euro-area growth have materialized and
indications for the second quarter point to weakened growth and heightened
uncertainty
Inflationary pressure has been dampened by the risks to growth, he
said
The ECB on Thursday cut its benchmark lending rate by a quarter of a
percentage point to a record-low 0.75% as expected
It also lowered the deposit
and marginal lending-facility rates
"Beyond the short term, we expect the
euro-area economy to recover gradually but see momentum dampened by number of
factors," said Draghi at a press conference
Such factors include tensions in
euro-area sovereign-debt markets and high unemployment, which will weigh on
underlying growth momentum, he said. "Risks surrounding the euro area continue
to be on the downside."
Welcome
The mathematician of the Complutense University of Madrid, José-Vidal Ruiz Varela, argues that Europe must raise its borrowing limit, leaving its deflationary policy.
Cortesía de Investing.com
Agenda Macro
Calendario económico en tiempo real proporcionado por Investing.com España.
viernes, 6 de julio de 2012
Suscribirse a:
Enviar comentarios (Atom)
No hay comentarios:
Publicar un comentario