⊙ reporter Wang Zhoujie Zhu Xianjia 0 edit
European debt crisis has continued for over a year, still signs. International credit rating company biaopu company, 28th said, the first could be lowered again this week Portugal sovereign debt ratings. Date of biaopu first Portugal banking operation, announced the cut of 5 banks ratings.
but as a policy decision making bodies of the European Central Bank on euro debt crisis seems to be more to take the attitude of the tiller, but particular vigilance on inflation in the region. Trichet, ECB 28th speak again, expressing concerns about inflation, market expectations of ECB will accelerate exit easing suddenly heated up. Under the influence of this, EUR/USD exchange rate in the 29th Asian trading session once rose, but the European trading session, Federal Reserve officials stand again consider the impact of higher interest rates fall.
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biaopu 28th pointed out that Portugal or difficult escape again degraded fate of situation. First, according to the relevant loan provisions in the European stabilisation mechanism, if the mechanism held Portugal Government bond debt restructuring increased risk for investors, the rating agencies be reduced Portugal sovereign debt ratings, second, that if Portugal bond market trading volume shrunk sharply, can also lead to rating downgrades of the country.
biaopu announced last week that Portugal sovereign debt ratings from "A-" down to "BBB". Down on the grounds that: the Council refuses to pass the Government's new round of austerity programmes and Portugal sugelali 23rd Prime Minister announced his resignation but also increases the uncertainty. Since the beginning of this month, including biaopu, three major international rating, Fitch and Moody's Giants have announced reduced Portugal sovereign debt ratings.
if the warning again cut Portugal sovereign debt rating only stays in the mouth, then 28th biaopu also has a more substantial moves: down 5 Portugal Bank and two long-term and short-term ratings of the relevant subsidiary. Credit analysis of Shi Ailin biaopu na·yipalajilei said the downturn reflected the fall in biaopu last week Portugal sovereign debt ratings have a direct impact on the country's banking sector. Meanwhile, the rating reasons also because, given Portugal increasingly difficult economic, financial and operational environment, biaopu all Portugal Bank's financial situation will deteriorate.
in addition to Portugal, Ireland, and Spain Constitution is also in the banking sector is not optimistic. According to foreign media reports, Ireland's Central Bank's bank stress test results will be displayed, Ireland banking financing gaps or $ 18 billion to EUR 23 billion. The report, this figure was higher than the European Union, the International Monetary Fund (IMF) and the European Central Bank in November last year to 10 billion euros is expected, but below most analysts ' forecast of 35 billion euros.
enhanced interest rates expected Trichet Speech
with the cloud of debt crisis, eurozone policymakers seemed more concerned about inflation situation in the region. Trichet, ECB 28th that Eurozone inflation "stubbornly" above ECB target levels.
related data show that February inflation rate rose to 2.4% in the eurozone, well above the Central Bank set "close to and below the 2%" target since December of last year's inflation rate has been higher than in the area of 2%.
fear of inflation, the ECB earlier this month said, April may start raising rates this year. Since then despite Japan 9 level earthquake and tsunami, the nuclear crisis and other negative effects of secondary disasters, eurozone policymakers are still repeatedly claim that will strengthen this position.
overseas media analysts believe that what Mr Trichet vane as if interest rates, the market sees the European Central Bank to stem the rise in commodity prices to select dynamic of interest rates. For now, investors are more concerned about interest rates benefit the economic side, and to shelve the eurozone is complicated situation drag on by peripheral concerns.
interest rates expected to benefit the euro
markets on the European Central Bank's interest rate hike expected gradual warming, due to higher interest rates will boost the return on investment of the euro and in euros, this season the euro more attractive than the US dollar in the short term.
although investor enthusiasm for the euro to a certain extent by the European debt crisis, and overseas media analysts believe that the eurozone's second-tier StateDownside risks most market digested.
29 day in early trading, the euro rose against the dollar, but the United States Federal Reserve Bank of San Luis Governor Brad said on the same day, tighten monetary policy again in 2011 will be the key issues of the Federal Reserve, monetary policy cannot indefinitely keep loose. This remark on exits the market expectations, the dollar rose across, the euro dropped.
Beijing 29th, EUR/USD exchange rate US $ 1.4061, or 0.18%; euro against the pound sterling exchange rate 0.8808, 0.02% per cent. According to the technical analyst is expected, if the euro can break through $ 1.4283 2010 on year high of us $ 1.4583 in the short term, could once again testing $ 1.5145 over the medium term.
otherwise foreign media analysis, the world's leading central banks started to diversify, this is also the euro constitutes a positive. The report said, and now is considered a and m have the same risk aversion of the euro functional currency. Lessons of the financial crisis that central banks are not focused on a monetary reserve asset, because the asset is no such thing as absolute security in the world.
