The value of the products and services in the market, in view of the users, must be expressed in the sovereign and digital bolivars as of this first of September. This was reported by the Central Bank of Venezuela (BCV) through its official account on the social network Twitter.

According to indicated by the issuing entity, the entry into force of the new monetary expression will not have any impact on prices. That is, it will not affect the value of the currency. “It will not be worth more or less. It will just facilitate its use by taking it to a simpler monetary scale.”

The state financial entity indicated that “all monetary amounts and everything expressed in national currency will be divided by one million.” It stressed that the modification of the monetary scale will underpin the “deepening and development of the digital economy in Venezuela” becoming a “necessary historical milestone at a time when the country begins the path of economic recovery.”

It is important to remember that last August 5, the BCV announced the new monetary reconversion in the country that will take effect from October 1st, with the digital bolivar, eliminating six zeros from the current coin.

M. Rodríguez

Source: descifrado

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The Central Bank of the United States (Fed) is addressing, from this Tuesday, July 27, the monetary policy of the nation and where it is expected that they will analyze inflation and the risks that repesents the Delta variant of the coronavirus.

The economic recovery in the US for this year could be seriously impacted by the increase in the Delta variant, which has triggered Covid-19 infections in many regions of the world.

It is estimated that one of the main points of this meeting is the discussion and review of the increase in prices, stronger than expected, registering its highest rate in 13 years.

Another important aspect to be considered by the Fed is inflation, which during June registered 5.4 %, according to the CPI index, a fact that continues to cause great concern, since the trend is expected to extend over several months.

Jerome Powell, the chairman of the Fed, has repeatedly explained that the increase in inflation is “temporary and then inflation will be channeled to lower levels.” Like many economists, Powell estimates that inflation will stabilize in the medium term and the Fed has set a target in the 2 % range.

This policy coincides with the one recommended by the International Monetary Fund (IMF) to central banks: “continue with a monetary policy approach based on figures,” explained Koeva Brooks, deputy director of the IMF at a press conference.

The international institution, which published its updated economic forecasts on Tuesday, recommended that central banks maintain their support for the economies, without trying at this time to counteract the rise in prices with a tightening of their monetary policies.

M. Rodríguez

Source: diariolasamericas.com

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