Australian economy taking hits for eurozone woes, a’realignment’
Spain’s economy has struggled for much of this year in the face of a바카라 recession and unemployment exceeding 40% in some cities.
In addition to Spain’s exports, the eurozone’s third-largest economy has been hit hard by low oil prices.
This is due in large part to the collapse of the price of oil. In March, prices fell more than 40% against a US dollar, and in August, prices fell as much as 42%.
The decline is particularly stark for Madrid, which is not accustomed to paying a high price for natural gas.
On Friday, Spain’s Bank of Spain said its benchmark interest rate is set to rise from 7.5% to 8.5%.
The central bank also raised its “reactionary” benchmark rate and said it would keep its main long-term short-term interest rate stable at 0.5%.
Media playback is unsupported on your device Media caption The Economist: “Spain has been hit hard by the financial crisis”
It has taken some of these measures after previous steps by the central bank.
In March, it reduced its benchmark interest rate to 0.9% from 1.0% to reduce speculation and speculation-led speculation to take away risk-바카라free funding.
On Friday, it also reduced its main short-term short-term interest rate by a quarter of a point, or 0.5%.
Spain’s “red tape” has also come under strain. In addition to curbing bank lending, in March the government announced a tax on luxury goods.
The measures have hurt a country where the economy hasjarvees.com grown by 12% in the last four years.
On the bright side, the central bank says it is now in “a more confident position” and expects the Spanish economy to “recover on the back of improving economic prospects”.
As eurozone growth slows down, some say, a wider “rebalancing” will be needed, not only in terms of investment, but also in terms of the employment-to-population ratio.