{"id":20662,"date":"2017-01-01T00:00:00","date_gmt":"2017-01-01T00:00:00","guid":{"rendered":"https:\/\/crees.org.do\/banco-central-reduce-tasas-de-politicas-monetarias\/"},"modified":"2017-01-01T00:00:00","modified_gmt":"2017-01-01T00:00:00","slug":"banco-central-reduce-tasas-de-politicas-monetarias","status":"publish","type":"post","link":"https:\/\/crees.org.do\/?p=20662","title":{"rendered":"Banco Central reduce tasas de pol\u00edticas monetarias"},"content":{"rendered":"

Autor: Senabri Silvestre<\/span><\/span><\/p>\n

Fecha: 1 de agosto 2017<\/span><\/span><\/p>\n

Extra\u00eddo de eldia.com.do<\/a><\/span><\/span><\/p>\n

Santo Domingo.-El Banco Central<\/a> redujo 50 puntos b\u00e1sicos a su tasa de inter\u00e9s de pol\u00edtica monetaria en procura de dinamizar la econom\u00eda, cuyo crecimiento se situ\u00f3 sensiblemente por debajo de su potencial debido a la desaceleraci\u00f3n de la inversi\u00f3n privada y el gasto p\u00fablico, particularmente, el de capital.<\/span><\/span><\/p>\n

Dicha tasa fue reducida de 5.75 % a 5.25 % anual, efectivo a partir del 1 de agosto. Mientras, la tasa de dep\u00f3sitos remunerados de corto plazo (overnight) baj\u00f3 de 4.25 % a 3.75 % anual y la tasa de facilidades de expansi\u00f3n (repos) se reduce de 7.25 % a 6.75 %.<\/span><\/span><\/p>\n

La medida fue tomada a solo d\u00edas del Banco Central<\/a> liberar RD$20,423 millones del encaje legal para impulsar el crecimiento econ\u00f3mico a trav\u00e9s del cr\u00e9dito.<\/span><\/span><\/p>\n

El Banco Central<\/a> explic\u00f3 que la reducci\u00f3n de la inversi\u00f3n privada y, particularmente, el gasto de capital han contribuido a que el d\u00e9ficit del Sector P\u00fablico No Financiero (SPNF) se ubicara en -0.5 % del PIB al mes de mayo.<\/span><\/span><\/p>\n

Adicionalmente, los agregados monetarios y los pr\u00e9stamos totales al sector privado crecieron menos, tanto en la demanda de dinero como en la demanda de cr\u00e9dito, asociada a la influencia de factores externos e internos sobre las expectativas de los agentes privados.<\/span><\/span><\/p>\n

Opiniones<\/span><\/span><\/p>\n

El economista Ernesto Selman consider\u00f3 que la disposici\u00f3n de reducir su tasa de inter\u00e9s en 50 puntos b\u00e1sicos y la liberaci\u00f3n de encajes tiende a ser inconsistente, debido a que en otras ocasiones el BC ha manifestado que el pa\u00eds ha crecido econ\u00f3micamente.<\/span><\/span><\/p>\n

Selman advirti\u00f3 que de presentarse un crecimiento econ\u00f3mico, no comprende la necesidad de liberar nuevos recursos y reducir la tasa de inter\u00e9s.<\/span><\/span><\/p>\n

Explic\u00f3 que al momento de liberar los 20 mil millones hab\u00eda 19 mil millones en los intermediarios financieros dispuestos a ser prestados, pero la econom\u00eda no estaba demandando esos recursos.<\/span><\/span><\/p>\n

“Siendo la pol\u00edtica del Banco Central<\/a> enfocada en el tipo de cambio, no vemos el sentido de bajar las tasas de inter\u00e9s, principalmente cuando a nivel mundial est\u00e1n subiendo”, puntualiz\u00f3 el economista.<\/span><\/span><\/p>\n

Agreg\u00f3 que con esta decisi\u00f3n el pa\u00eds va en contra de la tendencia de los bancos centrales a nivel mundial, de una pol\u00edtica monetaria menos flexible, debido a la poca planificaci\u00f3n de mediano plazo en la pol\u00edtica monetaria.<\/span><\/span><\/p>\n

De su lado, el economista Guillermo Caram calific\u00f3 de correctas las medidas implementadas por el BC encaminadas a animar la econom\u00eda, pero advirti\u00f3 que si el Gobierno no reduce los d\u00e9ficit fiscales eso puede traer una presi\u00f3n a la tasa de cambio.<\/span><\/span><\/p>\n

“Si nos quedamos con una pol\u00edtica monetaria expansiva y una pol\u00edtica fiscal pasiva podemos desestabilizar el mercado cambiario”, dijo Caram.<\/span><\/span><\/p>\n

Agreg\u00f3 que el Gobierno est\u00e1 en la obligaci\u00f3n de reducir el d\u00e9ficit y solo queda esperar que estas disposiciones logren el objetivo de dinamizar la econom\u00eda.<\/span><\/span><\/p>\n

Las actividades generadoras de divisas siguen mostrando un desempe\u00f1o favorable, contribuyendo a mantener el d\u00e9ficit de cuenta corriente en niveles bajos, a la vez que se fortalece la acumulaci\u00f3n de reservas internacionales y contribuye a la estabilidad relativa en el mercado cambiario.<\/span><\/span><\/p>\n

Justificaci\u00f3n<\/span><\/span><\/p>\n

El BC justific\u00f3 que desde el incremento en la tasa de pol\u00edtica monetaria en marzo el entorno internacional ha cambiado, debido al aumento de los precios del petr\u00f3leo y el proceso de normalizaci\u00f3n de la pol\u00edtica monetaria de Estados Unidos.<\/span><\/span><\/p>\n

<\/div>\n

<\/path><\/svg><\/i> Vistas Totales 287 , Vistas Hoy 3 <\/p>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

Autor: Senabri SilvestreFecha: 1 de agosto 2017Extra\u00eddo de eldia.com.doEl economista Ernesto Selman consider\u00f3 que la disposici\u00f3n de reducir su tasa de inter\u00e9s en 50 puntos b\u00e1sicos y la liberaci\u00f3n de encajes tiende a ser inconsistente, debido a que en otras ocasiones el BC ha manifestado que el pa\u00eds ha crecido econ\u00f3micamente.<\/p>\n

<\/div>\n

<\/path><\/svg><\/i> Vistas Totales 287 , Vistas Hoy 3 <\/p>\n

<\/div>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[],"class_list":["post-20662","post","type-post","status-publish","format-standard","hentry","category-blog"],"yoast_head":"\nBanco Central reduce tasas de pol\u00edticas monetarias | CREES<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/crees.org.do\/?p=20662\" \/>\n<meta property=\"og:locale\" content=\"es_ES\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Banco Central reduce tasas de pol\u00edticas monetarias | CREES\" \/>\n<meta property=\"og:description\" content=\"Autor: Senabri SilvestreFecha: 1 de agosto 2017Extra\u00eddo de eldia.com.doEl economista Ernesto Selman consider\u00f3 que la disposici\u00f3n de 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