Traduction de «Indicateur fondé sur les agrégats de masse monétaire » (Français → Anglais) :

Promote ways of achieving consistent implementation of Pillar II capital requirements in response to specific asset price bubbles or money supply issues,

– Promote ways of achieving consistent implementation of Pillar II capital requirements in response to specific asset price bubbles or money supply issues,

All of the monetary and financial indicators show expansionary trends and thus increasing risks of inflation: money supply, lending, asset prices.

Given that variables other than M3 also have information content regarding future price developments, a diversified approach, which looks at a variety of indicators and also takes into account possible alternative interpretations of the available information, is more conducive to robust monetary policy decisions than the mere focus on M3.

(10) Whereas the importance of banana production for the economy of the traditional ACP supplier concerned is best reflected by the share of the banana sector in GDP of that country; whereas the most accurate statistics in this regard are supplied by the International Monetary Fund or in their absence by UNCTAD and these statistics should therefore be used; whereas, as with regard to export quantities, the economic objective of Regulation (EC) No 856/1999 requires that the statistics to be used be those relating to the three years preceding the year of entry into force of Regulation (EC) No 1637/98, for which statistics are available;

In practice, some classes of financial assets (liabilities) do not contribute even to broad measures of money, for example, monetary gold and SDRs (AF.1) or insurance technical reserves (AF.6).