10:29 2022-12-09 crimes - citeste alte articole pe aceeasi tema
Comentarii Adauga Comentariu
_ BNR's Vasilescu: Inflation is a disorder of prices;attacking the energy area would do more harm than good
BNR's Vasilescu: Inflation is a disorder of prices;attacking the energy area would do more harm than good
Inflation is a disorder of prices, and if central banks were to intervene by attacking the energy sector, it would do more harm than good, Adrian Vasilescu, the strategy consultant at the National Bank of Romania (BNR) told a specialized debate on Friday, told Agerpres.
"I hope I won't be seen as arrogant if I say that a motto which is circulating today in all central banks is that when inflation is swirling in an area, in a country or around the globe, central banks say - and the Fed and the ECB and the Bank of England and the Bank of Canada and the Bank of Japan - that, under certain conditions, inflation is ultimately a price disorder. When that source is energy, and for central banks to step in to attack that source would do more harm than good. Mrs. Lagarde, the President of the European Central Bank, expressed herself very plastically that if the European Central Bank raises the interest rate and comes in to hit inflation, do you think that the wind will stop blowing in the windmills, do you think that it will end with the drought that drains lakes and it won't be enough amount of water as needed in the atomic reactors, the nuclear reactors, or for the hydrogen in thermo-hydropower plants? Well, this lesson, which central banks have learned, I believe very well in these years of crisis , starting from December 2020 and until now - the National Bank of Romania learned this lesson in the 90s and since then, it has had countless opportunities to apply it (...) - when the big banks talk about inflation, they set a framework on a 40-year distance. They go back to the 70s, when there were two very strong oil shocks in the world and which resulted in a double-digit inflation (...) Romania was confronted with five inflationary cycles, no less. The first was with inflation of 200 and 300pct, from '90 to '93. The second was by 150pct. These two inflationary cycles had a cause: the liberalization of prices, because we had fixed prices and we had to enter the market economy," Vasilescu stated.
He added that price liberalization was a cause and if the central bank had touched this cause of inflation it would have crushed it.
"(...) throughout this period of crisis, starting from 2020, we had only one recession, of 3.7 in 2020. Basically, it was a modest recession, what is called a soft fall or soft landing. So the National Bank basically taught other banks how to proceed in the conditions in which, if they were to intervened on the market to hit inflation, they would do more harm than good," the BNR representative argued.
The financial-banking and business environment in Romania discusses, on Friday, within a debate called "Learned Lessons in Crises Times A Global Puzzle," about the most important economic events of the year.
Linkul direct catre Petitie
Citiți și cele mai căutate articole de pe Fluierul:
ieri 21:01 _ Cisternă GNL eșuează în canalul Suez
ieri 21:01 _ Turmul se pândește după colț
ieri 21:00 _ Jocul Fed de pui cu bursa
ieri 15:37 _ Ce face pe cineva un psihopat?
ieri 15:20 _Gold FM Romania - 01 Feb 2023 13:23:03
ieri 15:20 _Gold FM Romania - 01 Feb 2023 14:50:59
ieri 15:20 _Gold FM Romania - 01 Feb 2023 14:55:33
ieri 14:01 _ TESS descoperă o nouă pitică maro caldă
ieri 13:27 _ Tom Brady își anunță retragerea
ieri 13:07 _ Emily Atack reflectă la anii adolescenței
ieri 11:46 _ Știi ce contează pentru cei cinci pe zi?
ieri 11:43 _ ANDROID...
ieri 11:43 _ UPDATE: APLICAȚIA DRUDGE IPHONE, IPAD...
ieri 11:43 _ Hanks va fi De-Aged în noul Zemeckis...
ieri 11:43 _ Retrăind timpul lui nebun în Miami...
ieri 11:43 _ Santos renunță la sarcinile comisiei...
ieri 11:42 _ Vârtej ciudat în cer vina lui Elon?
ieri 11:41 _ Genitale masculine găsite la benzinărie...
ieri 11:41 _ Euro trades at 4.9148 RON
ieri 11:41 _ Corporațiile conduc inflația?
ieri 11:41 _ Profitul lui MCDONALD crește...
ieri 11:40 _ Haley pregătește videoclipul campaniei...
ieri 11:40 _ Tim Scott către Iowa...
ieri 11:40 _ Rivalitatea se apropie de fierbere...
ieri 11:40 _ Ron ii spune lui Don: Am fost reales...
ieri 11:39 _ STORMY DANIELS BACK TO HANUNT...
ieri 11:39 _ RUSIA REALIZA CÂŞTIGURI
ieri 11:39 _ UCRAINA A RESPECTAT AVIONELE DE LUPĂ
ieri 11:36 _ Unde corupția este răspândită
ieri 11:36 _ Curs valutar, 1 februarie
ieri 11:25 _4 Media Info - 01 Feb 2023 09:06:25
ieri 11:25 _4 Media Info - 01 Feb 2023 09:12:04
ieri 10:36 _ WhatsApp a lansat trei funcții noi
ieri 10:02 _ Oil pollution on Arges river
ieri 06:56 _George Simion - 01 Feb 2023 06:11:00
ieri 06:55 _4 Media Info - 01 Feb 2023 06:03:44
ieri 06:40 _ FBI a percheziționat biroul lui Joe Biden
ieri 06:35 _ Adevărul incomod despre Solyndra