{"id":457684,"date":"2023-10-26T09:54:42","date_gmt":"2023-10-26T09:54:42","guid":{"rendered":"https:\/\/www.mapfream.com\/objetivo-bce-finales-2024\/"},"modified":"2023-10-26T11:46:10","modified_gmt":"2023-10-26T11:46:10","slug":"ecb-target-end-2024","status":"publish","type":"post","link":"https:\/\/www.mapfream.com\/en\/ecb-target-end-2024\/","title":{"rendered":"The ECB's 2% target won\u2019t be reached until the end of 2024"},"content":{"rendered":"

[et_pb_section fb_built=\"1\" _builder_version=\"4.20.4\" _module_preset=\"default\" background_image=\"https:\/\/www.mapfream.com\/media\/monedas-cabecera.jpg\" background_position=\"center_left\" height=\"100px\" custom_margin=\"0px||20px||false|false\" custom_padding=\"0px||0px||true|false\" custom_css_main_element=\"min-height: 343px;||display: flex;||align-items: flex-end;\" locked=\"off\" global_colors_info=\"{}\"][et_pb_row column_structure=\"3_5,2_5\" _builder_version=\"4.20.4\" _module_preset=\"default\" custom_margin=\"0px||0px||true|false\" custom_padding=\"0px||0px||true|false\" global_colors_info=\"{}\"][et_pb_column type=\"3_5\" _builder_version=\"4.16\" _module_preset=\"default\" background_color=\"#ffffff\" custom_padding=\"35px||0px||false|false\" box_shadow_style=\"preset1\" box_shadow_horizontal=\"-240px\" box_shadow_vertical=\"0px\" box_shadow_blur=\"0px\" box_shadow_color=\"#ffffff\" global_colors_info=\"{}\"][et_pb_post_title meta=\"off\" featured_image=\"off\" admin_label=\"T\u00edtulo de publicaci\u00f3n\" _builder_version=\"4.20.4\" _module_preset=\"default\" title_font_size=\"38px\" title_line_height=\"1.3em\" width=\"80%\" module_alignment=\"left\" custom_margin=\"||15px||false|false\" global_colors_info=\"{}\"][\/et_pb_post_title][et_pb_post_title title=\"off\" author=\"off\" categories=\"off\" comments=\"off\" featured_image=\"off\" admin_label=\"Fecha de publicaci\u00f3n\" _builder_version=\"4.16\" _module_preset=\"default\" title_font=\"||||||||\" meta_font=\"|||on|||||\" meta_font_size=\"12px\" custom_margin=\"||0px||false|false\" locked=\"off\" global_colors_info=\"{}\"][\/et_pb_post_title][et_pb_post_title title=\"off\" author=\"off\" date=\"off\" comments=\"off\" featured_image=\"off\" admin_label=\"Categor\u00edas de publicaci\u00f3n\" _builder_version=\"4.16\" _module_preset=\"default\" meta_text_color=\"#9a9a9a\" meta_font_size=\"16px\" locked=\"off\" global_colors_info=\"{}\"][\/et_pb_post_title][\/et_pb_column][et_pb_column type=\"2_5\" _builder_version=\"4.16\" _module_preset=\"default\" global_colors_info=\"{}\"][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=\"1\" _builder_version=\"4.16\" custom_padding=\"0px||0px||true|false\" locked=\"off\" global_colors_info=\"{}\"][et_pb_row column_structure=\"1_4,3_4\" _builder_version=\"4.16\" _module_preset=\"default\" global_colors_info=\"{}\"][et_pb_column type=\"1_4\" _builder_version=\"4.16\" _module_preset=\"default\" global_colors_info=\"{}\"][et_pb_blurb title=\"Redacci\u00f3n Mapfre\" image=\"https:\/\/www.mapfream.com\/media\/2021\/01\/redaccion-mapfre.jpeg\" alt=\"Redacci\u00f3n Mapfre\" icon_placement=\"left\" admin_label=\"Redacci\u00f3n Mapfre\" module_class=\"staff_blurb_image\" _builder_version=\"4.16\" header_font=\"|600|||||||\" header_text_color=\"#2d373d\" header_font_size=\"17px\" body_text_color=\"#526570\" body_font_size=\"14px\" body_line_height=\"1.5em\" max_width_tablet=\"\" max_width_phone=\"\" max_width_last_edited=\"on|tablet\" hover_transition_delay=\"100ms\" hover_transition_speed_curve=\"linear\" custom_css_blurb_content=\"color:\" border_radii_image=\"on|50px|50px|50px|50px\" locked=\"off\" global_colors_info=\"{}\" header_text_color__hover_enabled=\"off|desktop\" custom_css_blurb_title__hover_enabled=\"on|hover\" custom_css_blurb_content__hover_enabled=\"on|hover\" custom_css_blurb_content__hover=\"color: #d81e04;\"]<\/p>\n

\"Twitter@Mapfre<\/a><\/p>\n

[\/et_pb_blurb][et_pb_divider show_divider=\"off\" _builder_version=\"4.16\" background_color=\"#D81E04\" width=\"107px\" max_height=\"5px\" custom_margin=\"20px||20px||true|false\" custom_padding=\"||||false|false\" locked=\"off\" global_colors_info=\"{}\"][\/et_pb_divider][\/et_pb_column][et_pb_column type=\"3_4\" _builder_version=\"4.16\" _module_preset=\"default\" global_colors_info=\"{}\"][et_pb_text admin_label=\"Content\" _builder_version=\"4.20.4\" _module_preset=\"default\" text_font=\"Open Sans||||||||\" text_text_color=\"#2D373D\" text_orientation=\"justified\" hover_enabled=\"0\" global_colors_info=\"{}\" sticky_enabled=\"0\"]<\/p>\n

As happens every month, investors were waiting with bated breath to hear what came out of Thursday's meeting of the European Central Bank (ECB), despite the fact that there is no major change in the economic scenario that justifies a change in messaging or a rise or drop in interest rates.<\/p>\n

\"Growth data remains weak<\/strong>, although not as much as expected; inflation is moderating, but remains above a comfortable level, and geopolitical circumstances have deteriorated very quickly. There\u2019s no justification for raising rates or lowering them. Normally, the messaging is continuous until something real changes,\" explains Alberto Matell\u00e1n, chief economist at MAPFRE Inversi\u00f3n.<\/p>\n

In fact, the MAPFRE expert doesn\u2019t believe that the 2% target will be reached until at least the end of 2024<\/strong>, taking into account the volatility of the general inflation rate and the cost of lowering the underlying rate. He also considers that this objective is \u201ctremendously nuanced\u201d - meaning that it remains consistently below 2%.<\/p>\n

Economic developments are also conditioned by third quarter earnings reports, which Matell\u00e1n feels are better than analysts first expected. \u201cI\u2019m of the opinion that the earnings presentations are more positive than we first thought they would be<\/strong>, and that guidance is prudent, which opens the way for companies to improve their expectations in the future,\u201d he said.<\/p>\n

This week it was also revealed that the number of mortgage applications fell 22.7% in August, compared to the same month of the previous year. While this is a notable decline, MAPFRE Inversi\u00f3n\u2019s chief economist rules out a real estate bubble, noting that transaction volume has fallen by a smaller margin, meaning that there is still an active buyer base purchasing property, not out of necessity, in a more prime market. \u201cNothing is bursting, but the market is adjusting,\u201d he says.<\/p>\n

 <\/p>\n

Fear in the markets<\/strong><\/p>\n

According to Matell\u00e1n, the current situation of fear in the market is driven by two things: the unclear economic scenario and geopolitics, which has worsened rapidly in recent weeks.<\/p>\n

In this context, the chief economist at MAPFRE Inversi\u00f3n recalls that the quest for security at this time depends on investors themselves, who must set their objectives properly and trust the right advisor.<\/strong><\/p>\n

\u201cThe classic binomial of fixed income and equities has been lost, but in times like these, fixed income regains its capacity to offer security, since at the levels it\u2019s at, fund managers have greater freedom,\u201d he adds. \u201cBut looking for security depends more on themselves than on the market, on them setting goals and getting the right advice.\u201d<\/p>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"

As happens every month, investors were waiting with bated breath to hear what came out of Thursday's meeting of the European Central Bank (ECB).<\/p>\n","protected":false},"author":16,"featured_media":457682,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[36],"tags":[],"class_list":["post-457684","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets-research"],"yoast_head":"\nMapfre AM<\/title>\n<meta name=\"description\" content=\"As happens every month, investors were waiting with bated breath to hear what came out of Thursday's meeting of the European Central Bank (ECB).\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.mapfream.com\/en\/ecb-target-end-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The ECB's 2% target won\u2019t be reached until the end of 2024\" \/>\n<meta property=\"og:description\" content=\"As happens every month, investors were waiting with bated breath to hear what came out of Thursday's meeting of the European Central Bank (ECB).\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.mapfream.com\/en\/ecb-target-end-2024\/\" \/>\n<meta property=\"og:site_name\" content=\"Mapfre AM\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-26T09:54:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-26T11:46:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.mapfream.com\/wp-content\/uploads\/bce-nueva-sede-destacada.png\" \/>\n\t<meta property=\"og:image:width\" content=\"736\" \/>\n\t<meta property=\"og:image:height\" content=\"676\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Daniel Badia Gonzalez\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Daniel Badia Gonzalez\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.mapfream.com\/en\/ecb-target-end-2024\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.mapfream.com\/en\/ecb-target-end-2024\/\"},\"author\":{\"name\":\"Daniel Badia Gonzalez\",\"@id\":\"https:\/\/www.mapfream.com\/en\/#\/schema\/person\/7cfc237ac8ec871cb374ce6606ea1934\"},\"headline\":\"The ECB's 2% target won\u2019t be reached until the end of 2024\",\"datePublished\":\"2023-10-26T09:54:42+00:00\",\"dateModified\":\"2023-10-26T11:46:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.mapfream.com\/en\/ecb-target-end-2024\/\"},\"wordCount\":990,\"image\":{\"@id\":\"https:\/\/www.mapfream.com\/en\/ecb-target-end-2024\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.mapfream.com\/wp-content\/uploads\/bce-nueva-sede-destacada.png\",\"articleSection\":[\"Markets research\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.mapfream.com\/en\/ecb-target-end-2024\/\",\"url\":\"https:\/\/www.mapfream.com\/en\/ecb-target-end-2024\/\",\"name\":\"The ECB's 2% target won\u2019t be reached until the end of 2024\",\"isPartOf\":{\"@id\":\"https:\/\/www.mapfream.com\/en\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.mapfream.com\/en\/ecb-target-end-2024\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.mapfream.com\/en\/ecb-target-end-2024\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.mapfream.com\/wp-content\/uploads\/bce-nueva-sede-destacada.png\",\"datePublished\":\"2023-10-26T09:54:42+00:00\",\"dateModified\":\"2023-10-26T11:46:10+00:00\",\"author\":{\"@id\":\"https:\/\/www.mapfream.com\/en\/#\/schema\/person\/7cfc237ac8ec871cb374ce6606ea1934\"},\"description\":\"As happens every month, investors were waiting with bated breath to hear what came out of Thursday's meeting of the European Central Bank (ECB).\",\"breadcrumb\":{\"@id\":\"https:\/\/www.mapfream.com\/en\/ecb-target-end-2024\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.mapfream.com\/en\/ecb-target-end-2024\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.mapfream.com\/en\/ecb-target-end-2024\/#primaryimage\",\"url\":\"https:\/\/www.mapfream.com\/wp-content\/uploads\/bce-nueva-sede-destacada.png\",\"contentUrl\":\"https:\/\/www.mapfream.com\/wp-content\/uploads\/bce-nueva-sede-destacada.png\",\"width\":736,\"height\":676},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.mapfream.com\/en\/ecb-target-end-2024\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.mapfream.com\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"The ECB's 2% target won\u2019t be reached until the end of 2024\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.mapfream.com\/en\/#website\",\"url\":\"https:\/\/www.mapfream.com\/en\/\",\"name\":\"Mapfre AM\",\"description\":\"Mapfre AM Asset Management\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.mapfream.com\/en\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.mapfream.com\/en\/#\/schema\/person\/7cfc237ac8ec871cb374ce6606ea1934\",\"name\":\"Daniel Badia Gonzalez\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.mapfream.com\/en\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/75a5b4bf456e0c05cd80497e0367a7271c72e091ad8d9a57870839f7221203cf?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/75a5b4bf456e0c05cd80497e0367a7271c72e091ad8d9a57870839f7221203cf?s=96&d=mm&r=g\",\"caption\":\"Daniel Badia Gonzalez\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Mapfre AM","description":"As happens every month, investors were waiting with bated breath to hear what came out of Thursday's meeting of the European Central Bank (ECB).","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.mapfream.com\/en\/ecb-target-end-2024\/","og_locale":"en_US","og_type":"article","og_title":"The ECB's 2% target won\u2019t be reached until the end of 2024","og_description":"As happens every month, investors were waiting with bated breath to hear what came out of Thursday's meeting of the European Central Bank (ECB).","og_url":"https:\/\/www.mapfream.com\/en\/ecb-target-end-2024\/","og_site_name":"Mapfre AM","article_published_time":"2023-10-26T09:54:42+00:00","article_modified_time":"2023-10-26T11:46:10+00:00","og_image":[{"width":736,"height":676,"url":"https:\/\/www.mapfream.com\/wp-content\/uploads\/bce-nueva-sede-destacada.png","type":"image\/png"}],"author":"Daniel Badia Gonzalez","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Daniel Badia Gonzalez","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.mapfream.com\/en\/ecb-target-end-2024\/#article","isPartOf":{"@id":"https:\/\/www.mapfream.com\/en\/ecb-target-end-2024\/"},"author":{"name":"Daniel Badia Gonzalez","@id":"https:\/\/www.mapfream.com\/en\/#\/schema\/person\/7cfc237ac8ec871cb374ce6606ea1934"},"headline":"The ECB's 2% target won\u2019t be reached until the end of 2024","datePublished":"2023-10-26T09:54:42+00:00","dateModified":"2023-10-26T11:46:10+00:00","mainEntityOfPage":{"@id":"https:\/\/www.mapfream.com\/en\/ecb-target-end-2024\/"},"wordCount":990,"image":{"@id":"https:\/\/www.mapfream.com\/en\/ecb-target-end-2024\/#primaryimage"},"thumbnailUrl":"https:\/\/www.mapfream.com\/wp-content\/uploads\/bce-nueva-sede-destacada.png","articleSection":["Markets research"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.mapfream.com\/en\/ecb-target-end-2024\/","url":"https:\/\/www.mapfream.com\/en\/ecb-target-end-2024\/","name":"The ECB's 2% target won\u2019t be reached until the end of 2024","isPartOf":{"@id":"https:\/\/www.mapfream.com\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.mapfream.com\/en\/ecb-target-end-2024\/#primaryimage"},"image":{"@id":"https:\/\/www.mapfream.com\/en\/ecb-target-end-2024\/#primaryimage"},"thumbnailUrl":"https:\/\/www.mapfream.com\/wp-content\/uploads\/bce-nueva-sede-destacada.png","datePublished":"2023-10-26T09:54:42+00:00","dateModified":"2023-10-26T11:46:10+00:00","author":{"@id":"https:\/\/www.mapfream.com\/en\/#\/schema\/person\/7cfc237ac8ec871cb374ce6606ea1934"},"description":"As happens every month, investors were waiting with bated breath to hear what came out of Thursday's meeting of the European Central Bank (ECB).","breadcrumb":{"@id":"https:\/\/www.mapfream.com\/en\/ecb-target-end-2024\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.mapfream.com\/en\/ecb-target-end-2024\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.mapfream.com\/en\/ecb-target-end-2024\/#primaryimage","url":"https:\/\/www.mapfream.com\/wp-content\/uploads\/bce-nueva-sede-destacada.png","contentUrl":"https:\/\/www.mapfream.com\/wp-content\/uploads\/bce-nueva-sede-destacada.png","width":736,"height":676},{"@type":"BreadcrumbList","@id":"https:\/\/www.mapfream.com\/en\/ecb-target-end-2024\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.mapfream.com\/en\/"},{"@type":"ListItem","position":2,"name":"The ECB's 2% target won\u2019t be reached until the end of 2024"}]},{"@type":"WebSite","@id":"https:\/\/www.mapfream.com\/en\/#website","url":"https:\/\/www.mapfream.com\/en\/","name":"Mapfre AM","description":"Mapfre AM Asset Management","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.mapfream.com\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.mapfream.com\/en\/#\/schema\/person\/7cfc237ac8ec871cb374ce6606ea1934","name":"Daniel Badia Gonzalez","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.mapfream.com\/en\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/75a5b4bf456e0c05cd80497e0367a7271c72e091ad8d9a57870839f7221203cf?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/75a5b4bf456e0c05cd80497e0367a7271c72e091ad8d9a57870839f7221203cf?s=96&d=mm&r=g","caption":"Daniel Badia Gonzalez"}}]}},"_links":{"self":[{"href":"https:\/\/www.mapfream.com\/en\/wp-json\/wp\/v2\/posts\/457684","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.mapfream.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.mapfream.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.mapfream.com\/en\/wp-json\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mapfream.com\/en\/wp-json\/wp\/v2\/comments?post=457684"}],"version-history":[{"count":2,"href":"https:\/\/www.mapfream.com\/en\/wp-json\/wp\/v2\/posts\/457684\/revisions"}],"predecessor-version":[{"id":457688,"href":"https:\/\/www.mapfream.com\/en\/wp-json\/wp\/v2\/posts\/457684\/revisions\/457688"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.mapfream.com\/en\/wp-json\/wp\/v2\/media\/457682"}],"wp:attachment":[{"href":"https:\/\/www.mapfream.com\/en\/wp-json\/wp\/v2\/media?parent=457684"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mapfream.com\/en\/wp-json\/wp\/v2\/categories?post=457684"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mapfream.com\/en\/wp-json\/wp\/v2\/tags?post=457684"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}