Natixis - Les expériences du passé de normalisation monétaire doivent avoir traumatisé les Banques Centrales

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Natixis

Patrick Artus

Les expériences du passé de normalisation monétaire doivent avoir traumatisé les Banques Centrales

La normalisation de la politique monétaire aux États-Unis en 1999-2000 a déclenché la crise des actions ; en 2005-2006-2007, la crise des subprimes ; la réaction des marchés financiers aux début s de normalisation en 2013-2014 et 2018-début de 2019 ont été très négatives, toujours aux États-Unis. En Europe, le refus de mettre en place une politique monétaire expansionniste après la crise des subprimes contribue au déclenchement de la crise de la zone euro. Ces expériences douloureuses de normalisation monétaire dans le passé doivent pousser aujourd’hui la Réserve Fédérale et la BCE à beaucoup hésit er avant de normaliser leurs politiques monétaires.

04/07/2021 7 FR

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Natixis

Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.

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Patrick Artus

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Les expériences du passé de normalisation monétaire doivent avoir traumatisé les Banques Centrales

How is China reacting to Trump’s trade war?

BoE approved a 25bp rate cut with a 5-4 vote; two members dissented, favoring no change

Australia: The Labor Party remains and, with it, stimulative economic policies keeping RBA vigilant

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