Sentences with phrase «against the euro area»

In addition, the Governing Council announced it would purchase asset - backed securities with underlying assets consisting of claims against the euro area non-financial private sector and euro - denominated covered bonds issued by monetary financial institutions (MFIs) domiciled in the euro area.

Using the European Currency Unit (the precursor to the euro) as a proxy, the bilateral exchange rate against the euro area was the lowest since 1992, when it reached the equivalent of 1.45.

Not exact matches

In view of this, it is puzzling that these countries complained about «currency wars,» alleging that the «monetary tsunami» unleashed by the U.S. and the euro area was threatening their competitive positions by pulling up their currencies, when, in fact, the real and the rupeewere falling against the dollar and the euro.

And these are the powerful headwinds the U.S. and euro area monetary policies are working against.

The Canadian dollar has appreciated against the U.S. dollar by an amount similar to that of the currencies of two major commodity importers, Japan and the euro area (Chart 8).

Thus far in 2005, the dollar has risen back to around 1.30 against the euro, in part reflecting the fact that the US federal funds rate has now risen above the monetary policy rate in the euro area, as well as comments from European officials expressing concerns about the extent of the appreciation of the euro.

Against this backdrop, we maintain our scenario of a strengthening cyclical recovery, with euro area GDP growing at around 1.8 % this year and next, above potential, on the back of rising domestic demand (household consumption and investment) fuelled by bank credit.

Against this backdrop of ECB support, we maintain our scenario of a stronger cyclical recovery, with euro area GDP growing at around 1.8 % this year and next, above potential, on the back of rising domestic demand (consumption and investment) fuelled by bank credit.