For the quarter, the first numbers we have are promising. |
Host-country authorities need to encourage subsidiaries to strengthen their stand-alone abilities. |
It looks more likely that we will be in the upper end of the range. |
Parent banks' stakeholders are not necessarily the same as those of their subsidiaries. Moreover, their interests may diverge, especially during a crisis. |
The markets have been expecting a policy shift for some time and the announcement has clarified several issues. |
The result appears to be a moderate deficit, less than 1 percent of gross domestic product. |
This dominant position implies difficulties for promoting more competition and, as a result, for lowering prices. |
We are going to have growth in the first quarter above 4.5 percent. |
We expect vigorous growth for the first quarter of the year. If we continue having this type of industrial production data we will surely have to revise growth (estimates) upwards. |
We now have two (instruments), an interest rate floor and the short. We're keeping the short hidden away in a little box for now, in case we need it. |