The major Central Banks have cut their key rates sharply in recent months in response to the rapid slowdown in the economy. These conventional monetary policies have shown their limitations, however. In the first place, central banks have little room for manoeuvre: target rates are now between 0 and 0.25% for the Fed, 1.25% for the ECB, and 0.5% for the Bank of England (BoE). Second, despite previ... Lire la suite
Prices of agricultural commodities rose sharply in 2006 and 2007. The causes of the trend are both cyclical and structural, which means prices could remain durably high and very volatile. Several exporting regions, especially Australia and Europe, have recently suffered climate events. Cereal and dairy production have fallen as a result, reducing inventories and causing tension in world markets. M... Lire la suite
Les années 2006 et 2007 ont été marquées par de fortes hausses des prix des matières premières agricoles. Ces évolutions ont des causes aussi bien conjoncturelles que structurelles, de sorte que les prix de ces produits pourraient rester durablement élevés, avec une forte volatilité. Plusieurs régions exportatrices, notamment l'Australie et l'Europe, ont été récemment touchés par des événements cl... Lire la suite