Inflation in the Eurozone is starting to increase
The European Central Bank has started the emission with the purpose of repayment of eurobonds for a total sum of 60 billion euro and became the fifth large Central Bank, which resorted to this measure. Before this way of economy support was selected by the Fed of the USA, national banks of Japan, England and the Swiss Central Bank. Thus, the European regulator has reconsidered the former rigid monetary position according to which inflation was considered the main enemy of the eurozone.
The repayment of eurobonds for a total sum of 60 billion euro has been announced by the chairman of ECB Jean-Claude Trishe. The fact that the started emission of euro is uncovered does not cause doubts as total gross national product of the European Union falls. According to forecasts, by the end of the current year it will be reduced almost on 2 %.
Experts also mark, that the declared issue with the purpose of the repayment of Eurobonds is a step which is necessary first of all to reassure investors.
« Now such monetary policy is perceived as necessity, — explains the deputy chief of analytical management of ” Renaissance-capital ” company Alexey Moiseyev..-sixty billions for the European economy which is more, than American, is, certainly, anything. The emission should be 10 or 20 times more to play any role. ». Let’s note, that Fed of the USA from the beginning of the year has printed more than billion dollars.
However, such policy still has opponents on both sides. « Recently the head of the European Central Bank mister Trishe has declared, that there are no opportunities for the weakening of monetary policy. But only the statement and the practical actions of ECB differ, — comments the head of the department of research of Forecast Australia — So here we deal with the certain divergences between word and business. Within the nearest year the European Central Bank is going to print and throw out on the market 350 billion euro or even more. It is easy to understand, that such things can badly affect the trust to euro ».
And still it’s too early to confirm, that ECB has completely handed over its positions, in fact its base rate continues to remain the highest among the developed economy — 1 %.