Hello everyone! I hope y'all spent your holidays well and have a good mood! As for me, I had a good rest and returned to my blog to continue sharing my art works with y'all. Today I want to introduce something special - a new couple, uniting my character Lagard, and my girlfriend's (@giamytakaysblog) original character Helltron
Initially, this idea was completely spontaneous and had no clear form. For a long time, they were not considered a canonical couple, but over time, I literally fell in love with their interactions and dynamics, and now their union has become something much more for us ❤️
I want to introduce to y'all my new oc! I already have several ideas for his role in my story, and for me as a creator, this is the most important thing.
This character, Lagard, will still have a post dedicated to him, but for now I just want to show him to y'all!
Μέχρι τον Φεβρουάριο η Goldman Sachs προβλέπει ότι τα επιτόκια θα έχουν φτάσει στο 2,25%. Η ΕΚΤ ανακοίνωσε την Πέμπτη (8/9) την αύξηση των επιτοκίων κατά 75 μ.β. στέλνοντας ένα ηχηρό μήνυμα για τις προοπτικές πολιτικής της, σημειώνει η Goldman Sachs. Αυτή η αύξηση των επιτοκίων επισπεύδει τη διαδικα...
By February, Goldman Sachs predicts interest rates will have reached 2.25%.
The ECB announced on Thursday (8/9) the increase in interest rates by 75 bp. sending a resounding message about its policy outlook, notes Goldman Sachs.
This increase in interest rates accelerates the normalization process, which President Christine Lagarde also emphasized by stating that interest rates remain "well below" the levels that ensure inflation returns to 2% and that further increases "at the next meetings" are likely appropriate to dampen demand and avoid persistent upward pressure on inflation expectations.
Economic conditions suggest rapid tightening in the coming sessions for three reasons:
First, the inflation picture has worsened further and core inflation indicators are likely to rise further in the coming months.
Second, measures of underlying inflationary pressures have risen further, including wage growth, as have inflation expectations.
Third, other central banks will continue to raise interest rates and tighten policy rapidly, including another 75bp hike. of the Fed in September.
Goldman Sachs now expects the European Central Bank Board to raise another 75 bp. rates at the October meeting (vs. 50 bps previously), followed by 50 bps in December (vs. 25 m.p. before) and another 25 m.p. in February, raising the benchmark rate to 2.25% (up from 1.75% previously), with policy moving more clearly into restrictive territory. President Lagarde also noted that the size of these steps depends on the facts and that the board maintains the same approach every meeting.
Inflation forecasts rose sharply for 2022 and 2023 to 8.1% and 5.5%, respectively, and increased slightly for 2024 to 2.3%. President Lagarde noted that inflationary pressures have widened and most measures of core inflation have risen further, skewing risks to inflation higher.
Experts' projections show markedly lower growth - with the economy expected to stagnate later in the year and the first quarter of 2023 - but expect continued growth in the third quarter and stop short of predicting a technical recession.
A deeper recession or a resurgence of spread pressures could lead to a faster slowdown in the pace of tightening in Q4, stronger knock-on effects could require a longer cycle of increases.
In terms of the balance sheet, the ECB:
It provided little additional information about the Transmission Protection Instrument (TPI).
It noted that it will continue to flexibly use PEPP reinvestments to address the risks to the transmission mechanism related to the pandemic.
He reiterated that the securities expiring from the APP will be reinvested over an extended period of time.
The board decided to temporarily remove the 0% interest rate cap for deposit compensation. Instead, the cap will remain at the lower of either the Eurosystem's deposit facility rate (DFR) or the euro short-term rate (€STR) until 30 April 2023.
"Οι τελευταίες προβλέψεις είναι ότι ο πληθωρισμός θα μείνει σε ανεπιθύμητα υψηλά επίπεδα για περισσότερο", τόνισε η πρόεδρος της ΕΚΤ, Κριστίν Λαγκάρντ. Τον τερματισμό των μηδενικών επιτοκίων στη ζώνη του ευρώ με διαδοχικές αυξήσεις των επιτοκίων τους επόμενους μήνες προκειμένου να αντιμετωπι...
"The latest forecast is that inflation will remain at unwanted levels for longer," said ECB President Christine Lagarde.
The end of zero interest rates in the euro area with successive interest rate hikes in the coming months in order to deal with the inflation rally was confirmed by the President of the European Central Bank Christine Lagarde speaking at the press conference, following the decisions of the central bank .
Christine Lagarde reiterated that the central bank plans to raise interest rates by 25 basis points at its July meeting, and for the next meeting in September left the door open for a further increase if needed.
"We have decided today to take new steps to normalize our policy," Lagarde said, reiterating "that we will maintain our choice, our gradual change and our flexibility in our monetary policy."
"The latest forecasts are that inflation will remain at unwanted levels for longer, at a time when Russia's unwarranted attack on Ukraine continues to weigh on the European economy," she said.
"We had a very productive debate today and our decisions were unanimous. We have paved a path and the July and September meetings are the first steps on the road to raising our interest rates," he added.
"If the outlook for inflation remains as it is today or worsens, we expect the increase to be greater in September. Then we expect further increases [of interest rates] to be necessary, based on the data we have today on its outlook. inflation ".
The pressure will continue
The ECB President also noted that in the short term economic activity will continue to be under pressure as the war in Ukraine and the lockdowns in China create serious disruptions in the global supply chains.
Support for the economy, on the other hand, is provided by the strong labor market, as well as compensatory fiscal measures and the ability of households to use the savings that have accumulated during the pandemic. Investments under the Next Generation EU program also give an additional impetus.
Lagard confirms its presence in the Saudi Investment Conference
Lagard confirms its presence in the Saudi Investment Conference
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International Monetary Fund director Christine Lagarde has said she has not canceled plans to attend the Saudi Investment Conference this month, but will be looking for any new information about the disappearance of Saudi journalist Jamal Khashoggi.
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Saudi investment conference confirms holding despite the withdrawal of participants because of…
