Markets  |  March 20, 2013 14:50:00

Cyprus is ammunition, concentrate on the afternoon speech of Ben Bernanke German economic institute RWI today doubled its forecast for German economic growth in 2013 to 0.6 percent. Improved outlook is due to rising domestic consumption and investment in the manufacturing sector. Economic growth should be supported by low interest rates, which do not prevent the Germans to buy real estate. The rate of inflation this year will be 1.6 percent and 2.0 percent in 2014. The unemployment rate should hold at 6.8 percent, and then drop to 6.4 percent. The German economy was able to grow even during the eurozone crisis, slowing it until the last quarter of 2012 with a fall of 0.6 percent.The German central bank expects this year, 0.4 percent growth.

Cyprus could not agree with Russia on financial aid. After the rejection of the conditions of Brussels, it is beginning to look that Cyprus already in hand holds no trumps. Cyprus Russia asked for an extension of maturity of 5 years in 2.5 billion dollar debt and humiliation rate to 4.5 percent, which has not taken off in Russia. Timidly and Cypriot Minister of Finance requested a new loan five billion euros, to Moscow so far not responded. Russia seems to be angry at the European Union for the offer, which was made in Cyprus in the form of mandatory tax deposits.

State budget Britain today published a local finance minister George Osborne. Great Britain in the coming years to borrow more money than predicted forecast from December.Net debt of the public sector to reach 7.4 percent of GDP, however, should begin to decrease and the years 2014-2015 should reach only 5.9 percent. Today's data is also a planned debt reduction considered impaired compared to the previous December, the report of the Budget Committee. Osborne plans to achieve a surplus in the budget until 2018. Osborne also leaned back in the UK central bank (BoE) to do more for growth in the domestic economy. In the future it is planned closer look at the policy and the BoE will want precisely defined its vision. Inflation target remains at 2 percent. The British economy would this year be anxious growth of 0.6 percent in 2014 even 1.8 percent.

Currency pair EUR / GBPcontinue to hold after declining trend line. However, it has repeatedly tested false punctures, which suggests that the market is fighting for its future. Similarly, fights with 0.8532 support, which can not be overcome. The nearest clock would be able to show a new short-term trend.

Now investors will deny their sights on monetary statement the U.S. central bank (Fed) and downstream thousands conference of chief Ben Bernanke. Market will try to read between the lines to see what is the real position for the duration of the Fed's current monetary easing program, and especially after a series of improving economic data from the U.S. and the outbreak of the current problem of Cyprus, who recalled the fragility of the global environment.

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Kypru dochází munice, soustřeďme se na odpolední projev Bena Bernankeho

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