Rates will rise in September
And again it slip recently that analysts already were optimistic about a delay in the rise in rates. It is curious, as analysts were saying one thing while the Euribor belied them. Frankly they are losing all credibility and does not cease to be mere puppets who say what we want to hear or what they want us to believe.
A clear example of the credibility of your comments so we can see in the stock market valuations, yesterday Morgan Stanley downgraded the target price of the securities Vueling from 33 euros to 10 euros, as ye see the reliability seems brutal in their analysis.
Returning to the main theme, we can read the press release issued today by the EFE news agency:
The ECB reaffirmed their signals on a future rise in interest rates.
The ECB is still prepared to raise interest rates in September, a decision that is a hotbed of controversy in the markets to the fears about the U.S. credit crisis. The broadcaster has reaffirmed its signal of a forthcoming increase in September interest rate, now at 4% - as hinted after the last meeting of the governing council in early August.
A new injection of liquidity has been the pretext to confirm its monetary policy, aimed at curbing inflation. The ECB has announced this Thursday for an operation of additional long-term refinancing for Thursday by 40,000 million euros "to support the standardization of market performance of the money for the euro."
Furthermore, the issuing bank has said it maintains the position expressed last Aug. 2 by its president, Jean-Claude Trichet, with regard to monetary policy, which drew a modest further rise in interest rates in September, until 4.25%.
The message is pretty clear (a little strange, for Trichet) but for the moment the markets seem to have assumed the mortgage crisis, at least in the bag. Will already passed the worst?
To end such a story we like to discuss with banks to get 45 entities can charge and receive a transfer.
A total of 45 Spanish financial institutions have already received authorization from the Bank of Spain to charge clients to receive a transfer. These are boxes of 36 rural, 8 savings and a bank, BBVA. Yet most states that have no intention at the moment to implement this new committee.
For now, quiet, because although they have received authorization for the moment none has been said that what is Was going to do?.
Update: The markets themselves are created and Trichet's words have placed the Euribor% in 4791 Â
Written by Carlos Lopez on August 23, 2007 with 173 comments
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