Refinancing rate is the minimum limit for the submission of applications to raise funds through a tender ECB. This tender is held every two weeks and is a tool to maintain a good level of liquidity in the financial system. The basic rate for the European Union is set to 12. The upper level of inflation should not exceed 2% in the case of a faster rise in consumer prices in the interest rate is revised upward.
It is noteworthy that very high interest rates contribute to a reduction in the rate of economic growth in the background to reduce the volume of consumer credit and savings growth of individuals. Along with this natural consequence of the increased rate is the influx of additional capital, which in turn strengthens the position of the national currency in the market. If the situation is not seen real economic development in the long term, this can result in severe adverse effects and stagnation.
The U.S. trade balance - one of the strongest macroeconomic indicators with a high degree of influence on financial markets. Index publishes a statistical bureau of the Ministry of Commerce. This report examines in detail the structure of export-import operations in the world's leading economy.
The trade balance is considered to be the main part of the balance of payments is a measure of activity of the state in the international trade arena. The indicator value is calculated as the difference between exports and imports. In an analysis of primary importance is played by the export, showing growth of the economy. Followed by an analysis of import operations, which allows to determine the internal demand for goods from the population.
Significant impact on the total score of the trade balance has a national currency, the adjustment amount of revenue from import transactions in dollars. If the number exceeds the number of export import, trade balance is positive. Decrease in the deficit, as well as its positive, strengthens the national currency.
In recent years, the U.S. trade balance is negative. Monthly change the balance significantly affect the relative value of forecasts of GDP, as export transactions are added, and imports are subtracted from it in the calculation. Stimulating the growth of the U.S. currency is generally against the reduction of the trade deficit in the country and, consequently, increasing the demand for U.S. dollars.