Traduction de «Facteur d'accélération du taux de défaillance » (Français → Anglais) :

7. Takes note of the ECB's decision in 2006 to further increase interest rates; observes that, although inflation remained contained despite a surge in energy prices, the growth rate of monetary aggregate M3 has systematically exceeded the reference value of 4,5 % by large margins ever since 2001 without accelerating inflation; calls on the ECB to explain better the reasons for this discrepancy and whether it is a symptom of growing liquidity with the potential to fuel inflation in future or a result of other factors, such as the deepen ...[+++]ing of financial markets, financial innovations and the increasingly international role of the euro;

6. Takes note of the ECB's decision in 2006 to further increase interest rates; observes that, although inflation remained contained despite a surge in energy prices, the growth rate of monetary aggregate M3 has systematically exceeded the reference value of 4,5 % by large margins ever since 2001 without accelerating inflation; calls on the ECB to explain better the reasons for this discrepancy and whether it is a symptom of growing liquidity with the potential to fuel inflation in future or a result of other factors, such as the deepen ...[+++]ing of financial markets, financial innovations and the increasingly international role of the euro;

For example, where the deficiencies arose from difficulties in the interpretation of Community rules or requirements (except in cases where it should reasonably be expected that the Member State raise such difficulties with the Commission), and the national authorities took effective steps to remedy the deficiencies as soon as they were brought to light, this mitigating factor may be taken into account and a lower rate or no correction may be proposed.

For example, where the deficiencies arose from difficulties in the interpretation of Community rules or requirements (except in cases where it should reasonably be expected that the Member State raise such difficulties with the Commission), and the national authorities took effective steps to remedy the deficiencies as soon as they were brought to light, this mitigating factor may be taken into account and a lower rate or no correction may be proposed.

While the rapid rise in the rate of inflation in the course of 2000 is partly due to external and temporary factors which are expected to gradually fall out of the consumer price index, there has also been an increased contribution from domestically-generated inflation, which remains a cause of concern.

Within the statutory forecasts, there is a net increase of $2.4 billion over the 2012-13 Main Estimates, with the major contributing factors being a $2.7 billion increase in transfer payments to the provinces and territories, resulting from the legislated funding formulae; a $1.5 billion increase as a result of transitional assistance payments provided for under the comprehensive integrated tax coordination agreements with Quebec and Prince Edward Island; a $1.3 billion decrease in interest on unmatured debt as a result of the interest estimate being revised to reflect the decrease in the average forecast of interest rates; a $0.4 bil ...[+++]lion decrease in other interest costs as a result of the interest estimate being revised to reflect the decrease in the average long-term bond rate; a $10 million increase for a payment to the International Bank for Reconstruction and Development for the development and implementation of pilot projects to demonstrate the role of innovative market incentives in agricultural-applied research; and a $6.5 million increase for the purchase of domestic coinage, which reflects the savings identified as part of the spending review offset by net redemption and administration costs due to an accelerated profile of penny redemption rates as well as increased cost estimates for demand and metal price increases reflective of recent growth projections for overall coinage.