It continues the fall of the interest rates and the Stock Exchange

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09-03-2009 | Lluisa Llamero

The awaited descent of the interest rates on the part of Banco Central Europeo (BCE) and the collapse of the Stock Exchange augurs bad predictions. There is not seen the end of this fall, which there join the alarming information of the unemployment that already bring over to three millores and unemployed men way in Spain. The BCE has cut the types away to 1,5 %, the historical minimum give of that the European single currency was created in 1999. And the perspective is that it keeps on lowering them in the next months. In fact, in the United Kingdom they have already taken this way and have fixed the price of the money in 0,5 per cent. The background of these measurements is the recession and with them one tries to encourage the credit. But also he plans the fear on the soundness of the European bank system and the European commissioner of Economic and Monetary Matters, Joaquín Almunia there is he declared Tuesday that the European Union arranges of instruments to avoid the failure of a country in the Euro area. These instruments might be applied before some country is in the need to come to the International Monetary Fund.

The bad macroeconomic information, with increases state deficits and of the unemployment indexes (concerning 8 per cent in the Euro area), makes to adopt these minimums measurements in the interest rates. The analysts predict that the BCE might reduce again the types in the next trimester and be located in 1 per cent, which is the minimum that till now has appeared the leaders of the Central European. In the rest of strong economies, the United States, Canada, Japan and Switzerland, the types are concerning the zero per cent.

The situation in the Stock Exchange also is worrying. The Ibex 35 has collapsed 8,9 % and there has remained below the threshold of seven thousand points, almost the same that during February. The information of the American economy, with the increase of the numbers of the unemployment over 8 %, and the losses of Wall Street have done that the Spanish stock-exchange recovery has been impossible. But other European bags also offer bad information: the FSTE of London reduced 0,17 %; the Parisian CAC, 1,37 % and German Dax, over 1 %.

The movement on the Spanish market was determined by REE, who led the buys (+4,88 %). It followed him Acerinox (+4,57 %). In the negative part of the quotations, Telecinco and Abengoa fell down more than 4 % and between the big values, BBVA lost 3,69 %; Iberdrola, 2,55 %; Santander, 2,39 %; Phone companhy, 1 % and Repsol, 0,76 %.

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