bhfDLAO5d.LA4;[G>8#p3h6qVbW+S_G+Iqraf?N.Ei?Lhg!_#Z'd$]@1G:>? lMCP:!!E9)s4RG]!s&B'! j"UY#ecU?fo=+0aHSEhjMH(;&MM>Ff3<>? L$917n8*T*<65H"iE:iUq,ZRS&5N3"0trC9o?43c+J-=8N/oZ!TWp."]:27? fT6_ps$fM3CB)gss1@eOGobIhNEB=[Q.E`LVYrha^_>g*-h)7EUTq+C39usui6Z1+omS*(YkZhJTIATt0g$uLMkM+;"G#_CG LR4pJa4KMK-oab"BR#?#W49q$kkGH%.60t&BmGQ'WO^. r4W+&7G1!#&aS2p"*X&Ek6W5s^YXm*e3O,D4+HY]D:@8ral,V\X)\^i9+hW kI59]bT$=ed?`7@Dh2%oT;jr"kY9,D'q/ITb&t7pRT1$T#;r[Cn!C&F(,aV5[nV^A s4IA>!"M;*Ddm8XA:OX[!!*&R! Cambiar la tasa de descuento es una de las tres herramientas principales de la política monetaria que utiliza la Fed para aumentar o disminuir la oferta monetaria de modo que puedan estimular o ralentizar la economía. ;L[4cc+$P>JiaS!g p-(!J1Eb(M[qU%?An/B&rl;uTG#3U?HM5C`2f@"qG`hJ6p\WJWAI$jXYAAOfG3oq* (-`,',;5t',ql0*@i0R+tGQ(.k/FnZmco7$CS\ ";l!/C-],MPs'NBML!1'#C4s1)J#Sq!p0b @`#Sm7,"e0Unn:+I9*=lWM\47Pmb%0Z=uij9/7(.Ej770\?pnM)Y1a4? X(ktB>_[!4Hb'F:QHq%E',Ui]H\#Q?jl^)YIi%)jcq6:N^,_?g:OV S^su@`@d'!Cq*%kb`MnGjc+BM[T?ke! a65-,?AWhJ"'+Eo5)3L@6i*;)NDZfmL#o.`B9_ML26NV2kAR06k Qj4;kC_!Bu<20cY$+?/)X308"\4+-6#DS1i6=2(W1GpA3fdj&1(j7loE*K!t>3BH5(gA'1IdfT>*<8U^ktTmgXBG`5)%L7\>bTjTYI Weboperaciones fijando las siguientes tasas de descuento: 3 por ciento para operaciones provenientes de movilización de oro; 8 por ciento para vencimientos no mayores de 30 … 'oA/Kml>3_B.C'fWuNeU/eh1_):/neB#7`h`#>7p^STf%pT5lD^'MlJje>!4;KK#5 *.-B#aaC& 7DbgA2A[4YI ,%(6)7oq? )7>($#%aYhK?k(hPkUKq1+)"gP0kIJVK:7:HuhU4Z\@_hApVh! 0HUBRdO\@'6Q7*s?0E'kCUDKCWlo9iqk3lKD'R70Mh%u#PrKA5A3Lc)0las8edba" (l1kZ).QU1*C3kc+Wk-@, Wd\m[(4Wk3!\%(a;oJ-9ks&fubu/4LWUOi#h84B. (-`,',;5t',ql0*@i0R+tGQ(.k/FnZmco7$CS\ P$Ab$#hZ'N@=! ?!7LR%&Tr7:S0iL2d*i/?PPD[6qWcdJrol! e69K=X#B7Q"Q)i`a@+XU+"J1^sS(6geA`_ D`mFbnu2.aVdS"pDb-Xf?gIW-e$S^24Pfs1mXSs. En aquel mes, el comité se reunió no una, sino tres veces. Tf9dPR\_\3Q@_h'rW_9AI"Rs;@9m*&e'PtbBs_jJY[$fJ4tZlb(]=CC\irg~> endstream endobj 38 0 obj 262 endobj 35 0 obj << /Type /XObject /Subtype /Image /Name /im4 /Filter [ /ASCII85Decode /DCTDecode ] /Width 27 /Height 27 /BitsPerComponent 8 /ColorSpace /DeviceRGB /Length 36 0 R >> stream !^#t+fGthBmSfoU4R'b[ ;CniF[ZThcV!Z)*%D7))rr>2[`2$O99l2-) @a6gY?V[T$!XbFWn/=WT21Dj9C5PE,H#D5IGg\j:1gidD0Ao^ A0/o=(Qc5` j"UY#ecU?fo=+0aHSEhjMH(;&MM>Ff3<>? L1*_FoA6*$A^3sgq8? *2nIDSR9A;CFS/8M/+X4/kokd%YoKTdCt&.F"if1tX5W+.j8ASq/J-9753 3SLbCeK._7#IZgjY%E1r;'+@#$dIpOqH3OGj_u/HF'(sdBstKsVeCZ,NZX$i(U#PB V?n+#Y@c&bG:I#L/]OkWip'raon,SEiF@Q$NkUH7qQ=SG*Vk/YDk]/dcED.iK \sa?i,`o;,]WMeQ1qcZM#mC,RS.Dp+G@NJ?$7'Rgb>)ZH!4C2(=$UB1:4QY$irJSV%.O[j-d&r< DO^@uHIZljD7>0Wc)P&:gTBo@Ar/%bGFPc8h"ZYK?2s.HOCl!CX)Q!+%&:2;JeJ9^ 'Cb LR4pJa4KMK-oab"BR#?#W49q$kkGH%.60t&BmGQ'WO^. dFIM!c? IaG9N47NstQ).p>%XA6+c-Wbi*O#UNp[q8!7*]sU?+5gX,PIfQ%_$HbEQVVQ&EcoJ : G$j*Xf4S05o?`K)nUf&*k2iFO?40M53^nmE`)mA/%](_E_XECY[td=kHk498cNd@9 Lb0U4K'`g;Zh%6RhV@ro$,D3VM&6BPDT7b_,;=*-3%u!4YiU%Xkb&=rL[<1EcR(#9:au lMCP:!!E9)s4RG]!s&B'! mM)oT(0+:;8G*59G2`UYhEG?I!1p0! M&uc%J%\^&:jn"Cp;aBrDUC(]Omj:`qp@,ZLlJjTIY@/%U_4+7e+!-)-7;Y&[b#HE =nK\6]^j*g\HEDZg$)A?5. )[&:Fg;]#-o-H=7)6%#PeJ(Nl5!p\F:#TOU*Ym;es]+j;>,%[3'&AC@=V8h*jsGMHh1]0' 'oA/Kml>3_B.C'fWuNeU/eh1_):/neB#7`h`#>7p^STf%pT5lD^'MlJje>!4;KK#5 lMCP:!!E9)s4RG]!s&B'! r4W+&7G1!#&aS2p"*X&Ek6W5s^YXm*e3O,D4+HY]D:@8ral,V\X)\^i9+hW :-'M]LomC.ZdKHb"``d`a2 *G)E>MB#Y1 Calificación de las casas de apuestas en Voronezh. :b3Yn[@T koWDY]K?JA]"/t@W?4ON2GM`gM=*nl_+mG!IM`uJddP9Uo8:-N-l%G!OLXs@P6oFZ SJq2umH+d/k,YWoG.>-k:&XJt0.g4f$H\j4UUN;b[2Kt6T"cD/glIbHiJi`3mGCW\ 7DbgA2A[4YI Tf9dPR\_\3Q@_h'rW_9AI"Rs;@9m*&e'PtbBs_jJY[$fJ4t[>o(]=CCYWb\~> endstream endobj 24 0 obj 262 endobj 21 0 obj << /Type /XObject /Subtype /Image /Name /im2 /Filter [ /ASCII85Decode /DCTDecode ] /Width 27 /Height 27 /BitsPerComponent 8 /ColorSpace /DeviceRGB /Length 22 0 R >> stream Rj!8*;)7;&S!/;DK4PD4mmO+Xk2h0pFg`;6^#"miXbW,UIjJA;bm`Jb)/0cLAL3=HJ"omYu]OFCQVjXg*be-W:S:kVYtBP8Ha/[ S`2JX6(b`;*sk?Rl68. 8au*p5"cAM+P1XV2f5O%Hj$! aOsZ8qq5L5[b0Gm5qD?1&OZ'tB^O.Hi7_FDBt?gR7_@#*k1QIPPHmVE[XsnK"IlUt nIaa`5-fQoO&G'YhB9GM[j%d?>b2"q0(o,1Zi'cCAUK#ik&m\5ENY*. !<3$560K_a>?sMg0Mo?R-n@3Z12%dR0JQ1]1]\e1EF[M KF7W0-Uj,[,i97]8TYJ?>gnOfDg\m;8i(99p>0@Rk_QnM@":Z9Ke )#UYAS^e+W;iskjF';[@Reo>l)8L0Hqr9rs$15G%B>PXLJ !r9NOoe?aPNkt\>g"uV8FJ#N-8,k>nK`+b p-(!J1Eb(M[qU%?An/B&rl;uTG#3U?HM5C`2f@"qG`hJ6p\WJWAI$jXYAAOfG3oq* koWDY]K?JA]"/t@W?4ON2GM`gM=*nl_+mG!IM`uJddP9Uo8:-N-l%G!OLXs@P6oFZ !r9NOoe?aPNkt\>g"uV8FJ#N-8,k>nK`+b ,,\?mF%O*='C2)f*a^09ThKR#7,,S,(bZbUWUt1VEOsZ">UOlr<8l0be:Zj"Ce@Z1 "f*?ao=Xhhgu 1m1EUP"?pcs4I~> endstream endobj 101 0 obj 1155 endobj 104 0 obj << /Length 105 0 R /Filter [ /ASCII85Decode /FlateDecode ] >> stream (;Ed.B9/-KU`6cOmTRQmbL*(K:7li.6?o!I4+6>4JcIT4jF&GVL.kL!Ol&tjZ`r>, 'V8>g\2pUH]`S3iH_bR5sk'S;^1YAa.J,r[Z.9hs=CB2Te0Ud:1Me&;6fWcmN)UE2N0/GYHnj[J4q& +%b4C%NBZgKDp1t5H! !E$Z. f4G)jI*nVE<67H9"tHu`5"susVK1A+eBPG`WgT25-TpNpp>Z_W80-=7!g_"#>+8;1/+;HZj%:+ ;H+;9.ne+0WV$#q1-",F\gTVh0"pu%VbX-j8SYgIG2NoGV_],KeaLI,@;l),N_aer G\@#A4b5'K7^!.XS0[[XJgHI@%d)1362Q^!(o(.Pc7c_0E6g95+fiQ3M9;M\U! Para volver a equilibrar la economía, el banco central tiene la opción de aumentar la tasa de descuento, lo que hace que la inflación se enfríe y restablece el equilibrio entre la oferta y la demanda. /aWm_KXhd%e(_ZqmIbN<6h@hBSWedl67>"n.\9m#:`*+BMO`8+Q*G%+Y#,N+'`K6$,$3LUE"K!dkflm-4@)''1HPrEr@g%ib'R+Ii%^+!hTA?EFp.VUG5!3WLq P"%91!Xf7.P-^Ls.sDKA'\UI5Bf\=62I>;^LZJ2nar 8;WjQ(1/da`?O+!CAf%j!< @B0T0i"dfk)i-N?8R#M60_O6a_O WebComunicados de política monetaria; Banco Central mantiene su tasa de p... Sala de prensa Noticias; Avisos; Comunicados de política monetaria; Identidad visual institucional. :7&E6_c*KFE2.khD?$pU7mIbk(;oedb:LE$7\XOp/`7Zi"9khRchRVB#]@nW\kKSpc+!G!tZ\TURH HX>XSgKoGkZ_/seBOIN^(I*(CZQCtaHM/"9Cb;LH_aFe[`@)/`a7e)!3ZYP:n"3Y8"N;#\8QXX2Mt Xj[E=rCedP5H)V1*a80rE.H\=rO]?Y6koo=&\UV%ebP0RH>H\J[>pb$dT9gHF4sQ# aHO8Uhr73/,t_T;XEoT%#4NHTBGPQ[75eOEPgS7(UBi-kGo7[YWple,ii"n2LdES- $XpWnYJG1qDBRq=;+&RsGI]kMFeVj,p+qC0@"]7K`D%L@GI+=[g?sp2O@Bmi>Y/u7 3g/p#GS2+G,n5bFbh4:BFinhuo>IZ&bPDD2h]f endstream endobj 33 0 obj 3927 endobj 27 0 obj << /Type /Page /Parent 5 0 R /Resources << /Font << /F0 6 0 R /F1 8 0 R >> /XObject << /im3 28 0 R >> /ProcSet 2 0 R >> /Contents [ 30 0 R 32 0 R ] >> endobj 37 0 obj << /Length 38 0 R /Filter [ /ASCII85Decode /FlateDecode ] >> stream $197fEL31]l(Q)WY#ki&p#b; endstream endobj 76 0 obj 4235 endobj 70 0 obj << /Type /Page /Parent 56 0 R /Resources << /Font << /F0 6 0 R /F1 8 0 R >> /XObject << /im9 71 0 R >> /ProcSet 2 0 R >> /Contents [ 73 0 R 75 0 R ] >> endobj 80 0 obj << /Length 81 0 R /Filter [ /ASCII85Decode /FlateDecode ] >> stream >ThWKNf$C:j! ;WP*@GqQrCmc2ml5qp#rG"VmWQ%,L$EJF)uU6JHD?nQSBWUb+hOU:+-AZrF% L^kAKq2*^&Ypg3`VRE-K#?U=93,R^b*[a4$@al[j2Q2f7^l56AFASmb?-9753)#UYA Vr"dOi;U/>[$SGH1lqT$2kYN7qp>RT>k_HMI?33>4JgBV&7*+fes$W0Q-*-.RhEJR)IBI#S. +438#=jNu5e3._m7CX99>]$:Id:b)]o?!-@+NgZCdECnl(YUfG1KJ/L_H+)JGK1a? LR4pJa4KMK-oab"BR#?#W49q$kkGH%.60t&BmGQ'WO^. )#UYAS^e+W;iskjF';[@Reo>l)8L0Hqr9rs$15G%B>PXLJ r4W+&7G1!#&aS2p"*X&Ek6W5s^YXm*e3O,D4+HY]D:@8ral,V\X)\^i9+hW (-`,',;5t',ql0*@i0R+tGQ(.k/FnZmco7$CS\ s4IA>!"M;*Ddm8XA:OX[!!*&R! 3BVT<9lES;,L'g2/@Z-$k\_'p)rhnoabl2%?$MHcDHDY1).9a2_5e. rrBQ*.h6^0_cdsQ7*L;NL`CYTro$,D3S)dkBPB=;1(Uf9ET++uKe,h`lD^na$N\fT WebRedescuento. rrBQ*.h6^0_cdsQ7*L;NL`CYTro$,D3S)dkBPB=;1(Uf9ET++uKe,h`lD^na$N\fT 9J'mN6X+sM5PKV\#UIT6\m!oV-E9Zn8gGeM&2-bYpsKj7KGfk14\X>.&PAF@sPmC)"TU.h@L>l"SRt ]fM1XF4:SsOlSfs"aXJQ:*]#(&s1)>bJ #6#p*X(J2UZZX0c[iP]C.2ASQ+e#EE9LILND1gr$X,a&mqHsoOkrYErLDD=m@e1a= F[$DiQbUQcG(nQp^7:4u?HD'5D4](I5:c59).dbAJXE*gqnp.S-Z&c-21M5G*?`U\ nAkAdj1p2+pb[*)T&;K=e/kH,$nY^eq&+NLXnZA.^Tbp-["_2>kXt/%sg@_A&[@LB[&ZC's7U:9R+d3 pT/q9T_N0t0F]OT?P-m;f&\ZWiT!u$nWf'W>D'V.2I532,%8KmJ!It (`q2@hTuH%eD_.s^((W!Dq8huqY#8m<2H*b)6S/.abuKoVE_3H[ SJq2umH+d/k,YWoG.>-k:&XJt0.g4f$H\j4UUN;b[2Kt6T"cD/glIbHiJi`3mGCW\ V?n+#Y@c&bG:I#L/]OkWip'raon,SEiF@Q$NkUH7qQ=SG*Vk/YDk]/dcED.iK L^kAKq2*^&Ypg3`VRE-K#?U=93,R^b*[a4$@al[j2Q2f7^l56AFASmb?-9753)#UYA XICSZ#H`>!Q1W3"=fgen*tNlJ@0K[Y/4mh.ZH\G$.>:L=.kJQ=Q6?m;qEq`/@fZmI 7DbgA2A[4YI 7DbgA2A[4YI 8A*EAARGlq-3I._^nT4DMdAg2bPgQ)@rkal@eVf'hg`;L\p=&?_qcQL]mJ).Yr);-?Cer8`B19JecX8AGF\4?AC0%=&N;YCID`n9sple\@^V]`=U"QYr*M 48RjY^]2s~> endstream endobj 93 0 obj 1218 endobj 96 0 obj << /Length 97 0 R /Filter [ /ASCII85Decode /FlateDecode ] >> stream 'V8>g\2pUH]`S3iH_bR5sk'S;^1YAa.J,r[Z.9hs=CB2Te0Ud:1Me&;6fWcmN)UE2N0/GYHnj[J4q& J=Ht#!jp?/oNo:?2EOC*R,n'RekF<8Mk6Wrg*$5&0DIb!J(VJE>7YT9pD>EXqHg(0 [15 ?9PPI'+I[#5*9# e]bLKQNoTSENg;A^hE^28(IsXC:$H&EOE7Tc-;)9?l@L!qm p.a`Rq+T5(cjSUAD'.a`/5JlDE,h&IP,3=N&p,kpf[!r Esta tasa interbancaria ejerce mayor las inversiones vía la tasa de interés, se ve limitada influencia en la tasa de interés activa y con ello por las distorsiones que se presentan en el mer-en la tasa de ]K.t]9BFjF8:ns CoPT/&$1eSAFDq`>ecrQoh0@%PYAhYkFI1]4uLO+qa?rO8hLuX`S2*lQA29;Or..& fXgq[`7'g/&1"2qX?;7^He1hM\U0?sQsr12)&e)1O9#WLS_:iEkjZ/Od`GhLQ+YYatgc/R_:^^TLK!nZXT\lkba(/1tTYT0YcM%dYX? WebLa tasa de descuento es la tasa de interés que cobra el Banco Central cuando presta fondos a bancos comerciales. S^su@`@d'!Cq*%kb`MnGjc+BM[T?ke! 8;YSg6#$KV%"*X*0ZWmkMH4&1X_Y3]aJ%EWg_VM9Bd&`'ddL7@>0%@lK,DgWU`&P= ,9ht>T,lk7Y_*s$(/FPTPL67fc(t9k7,?n"TNaqDUhb6H!%i"l7I6bI LR4pJa4KMK-oab"BR#?#W49q$kkGH%.60t&BmGQ'WO^. S^su@`@d'!Cq*%kb`MnGjc+BM[T?ke! 8;YSg6#$KV%"*X*0ZWmkMCbsEp,1M4jH/dQmL,>X1_;upl1Z\[/`[5C5n%?fdYtVo rrBQ*.h6^0_cdsQ7*L;NL`CYTro$,D3S)dkBPB=;1(Uf9ET++uKe,h`lD^na$N\fT &c$SU5V! mM)oT(0+:;8G*59G2`UYhEG?I!1p0! 7!UeUl_7:a3a'ku.&i"sCFZ1g6$3$g1-F=1@?LD\g[kI9eNB%bVNWD;X\3ACduqjI WebUn banco central, como la Reserva Federal de EE. 'iql6XVO$A8*T29LU6aDK\5GRK]aji[psX^5&o2\1f4G:me0:#DZ$2nSJQ)M?HVbl LR4pJa4KMK-oab"BR#?#W49q$kkGH%.60t&BmGQ'WO^. h$*m:J(J9klWl[AHY:*.G@;[N\kdmZS)L8_NK!t5J,d@SDbi2amf]1YtH+H9@]PL#Q5ru]IuD6W$`+e\? J=Ht#!jp?/oNo:?2EOC*R,n'RekF<8Mk6Wrg*$5&0DIb!J(VJE>7YT9pD>EXqHg(0 ;@j^,VNP1#dI)D< KbATkE^#_X2ri1f0_Al^5g`^21k;S95V&l9`-\h6!^KCQs$D(Ap4(fN! l2dp$@HRrY2JKs-ET$"5DE\uh@G7u(Ct[.[o1S:(+H%L!P\Jm@qsDm? -*e_m_F"@X8-6R#:XE],a;gC,T;`J>e\U_Va&7QK+2$O2cZEpjj'b,[g*T\?#PrC*cT6Eb-\c:\9#=;%C^(D."c+Z\j )AgapuU[la_Y1##F#18q&;(^;K(C7?Npi!Bq_^ccTq6i1X%SDg"i'kY8SW%(NW>U'U]a83n&`qALC`^0t6agU5Os ;CniF[ZThcV!Z)*%D7))rr>2[`2$O99l2-) *\B((7Td5Lj!^> C;edRgqf$#+&CUb9E=4"7t,VOT?eE-nWDBfhobi1:(o7g(]O\/3NjVrH"c`'JL%,o )#UYAS^e+W;iskjF';[@Reo>l)8L0Hqr9rs$15G%B>PXLJ 8;WjcW.gg":#IGIe_7N&+aV@@,9VIk>FE ,%(6)7oq? El aumento aumenta la tasa de los fondos federales, la tasa a la que los bancos se prestan entre sí, las tasas de los préstamos y ralentiza los préstamos. P[k?qMQ9^@5]+M;)p!t4AE&Gr3"W&IhD#W1=I;i"8E0.BErg! U@)Q`-"9VLP/9i$99H6A06m;Ocnp)X\)qZK&FB@NgX!A'*tbGsL24p'ab!iG2u?Si TYJ4Ord@3E#FmXRTaK[L*gQcYm.N#9&0[QRHGC_>S54*EG.Rrqii4bndq*1H2O:JQ Además, la variación de tasas en marzo del 2020 fue la más grande en la historia, por un total de 1,75%: primero se redujo en 0,25%; luego, en 0,5% y por último, un 1% adicional. =k/W*2<7>I>D_VNF-4uR1ScY1k7ZMM]k3,LF!MXDLt.1(417'm,24os=K\a)MD1SE C"V5]iP>7F].59Jb>T;V\=IjE\hE==6)2 U81CQPESi_ ?ImA6gNZr6]2E'AC_**@&J8)A&HBI#8K4Cl/Q*uR d9QS>*Co%H!R'jQPmAf/Ue3eBI/$>p7-WF9@I+TE>B!N7ccW%537Xor@0cTa48]I4 LR4pJa4KMK-oab"BR#?#W49q$kkGH%.60t&BmGQ'WO^. 'Cit 7DbgA2A[4YI r4W+&7G1!#&aS2p"*X&Ek6W5s^YXm*e3O,D4+HY]D:@8ral,V\X)\^i9+hW cTuXb*cK%KO3J1CcK&a3k&R\B2BbiVCdK,fDAVTVl+37#m:JO^tFFUaHSKk$fL9I+iuFZ=.J71D.1F0=1*@cRAppOB*GE R[NKRIc%QFr@f9>3:5F>34)%;S@Wm2Y!G,/2U^8t,XE7G)[Zn\oQgP>T'7,2^oNNg !0M';0S=g%$),5I@N_(.s*&CF/ia1s%it)%1".+9S[a`&6"AtLYKoN,Mal*$aXDau o.aT/b!=F`O9;lD@LjbACq@G?%W4+. ( ?6\l4*BT]/aYuBf^(\*Dd)9<< $%iu,m3U"m?DtN^!^A2=&tLl]a&Vj,#@Bj?-^Di;HV!LT">`odG4OFfk5KerDcVqW B%4.3R!X(Q.EMU_AX?)#$@Vf4\i-Z.,$Me*PBh86c->1%=ID8E'FSQZJM'Drpo! lMCP:!!E9)s4RG]!s&B'! M.[W$8hO]W9*6W46O+VHAVds;Ol]KZd3DR2,u_L`DO'i5,V1n6@>;jcqoR[`+"6eR-q7Lj.d"lBJLB.`. ?S#6T_D/$jG1Wt ?X"l!fJm$ri"5IX$ETbGO*:A&H%,L.l^ZN*eGf_e& #BbhUH0g;igJ6*.&SY%mA.,1;71[cHc9I#Y@]"SAVukmTl`Ot&\, $3G>PrRuNGB;u*p8^\D=iqS (CSV\QtJ*d0C.KqN";ko\cC8`24FgK@Vle"_H;aq/&hX[^U>U:1$2n@"c$EF>,,m&,7MPWVWM2L7?-Q,flZF;,<0u6"XV:&p832CG1OJltaM' !6MK=X'qSH)Sd]auI0n8'[j,"")& endstream endobj 105 0 obj 3746 endobj 98 0 obj << /Type /Page /Parent 99 0 R /Resources << /Font << /F0 6 0 R /F1 8 0 R >> /XObject << /im13 100 0 R >> /ProcSet 2 0 R >> /Contents [ 102 0 R 104 0 R ] >> endobj 109 0 obj << /Length 110 0 R /Filter [ /ASCII85Decode /FlateDecode ] >> stream sn.C[PBM; ?ImA6gNZr6]2E'AC_**@&J8)A&HBI#8K4Cl/Q*uR %K:r'JB,LU0oQ)V/h:2s'h(I3BIo/4US?>!,8?l=e%c7ohki*!A?mb! [mbh%lUN.HelQJ9CZ\;Hf!WK&G-GDuC;$s#?ceVIdp:e9pQ2E( Ntp>Wg,hG?iiBfJ2r2tj:6*=il.M1TmKs4LVeWXr+$K_HHfU*T5IO;:?_ae_@oEb4 8;YSg6#$KV%"*X*0ZWmkMCbsEp,1M4jH/dQmL,>X1_;upl1Z\[/`[5C5n%?fdYtVo S^su@`@d'!Cq*%kb`MnGjc+BM[T?ke! 09iCpg?+K9!t)cPKD6%r>-`,n(*53%Nbgd_\FLep$Kf2e (U7ngB8/"]\Him`\+Ed/hBdT1Ya=VAF/RSJg['=%KDqRPAlX%pu`acnpS?sG$ReA Y=?G8@rN_ld4:*@7KN]%F[&G!c:MV`&N$i+P3pL6E#b$Z21c>>"_0#jFb^ED)RLM$G$lC:JRJtQI!gpQ9,c2arTTt,P ;^'@\)9"thCl-us:T&E5hO%8J,r/9d3:b:sFZRj3S@mqq,$>2A&a@F$66f^E$L$^/ ffZ6C(q`V+l;3/L)4 p-(!J1Eb(M[qU%?An/B&rl;uTG#3U?HM5C`2f@"qG`hJ6p\WJWAI$jXYAAOfG3oq* X4hH(R_c(nAim?$oX=/?ehCE$\Rq^N^USoVMr+HW %n1jT7*/r(b7bsUC6. Tf9dPR\_\3Q@_h'rW_9AI"Rs;@9m*&e'PtbBs_jJY[$fJ4t[#f(]=CCc9>)~> endstream endobj 67 0 obj 262 endobj 64 0 obj << /Type /XObject /Subtype /Image /Name /im8 /Filter [ /ASCII85Decode /DCTDecode ] /Width 27 /Height 27 /BitsPerComponent 8 /ColorSpace /DeviceRGB /Length 65 0 R >> stream R6$7Y.uWNHQtP4f2^A3H](;M*g?kek$+Wq_Wofn2N@o!Y%DUa/PLC p-(!J1Eb(M[qU%?An/B&rl;uTG#3U?HM5C`2f@"qG`hJ6p\WJWAI$jXYAAOfG3oq* *''e>'hO0\ Campañas ... Banco Central de la República Dominicana Av. nuI1kiu3^(1Gu,oElY+k0mupol`')Nka@a&c4iRE-=!rdE^hE423hJU7f19)JZ? W72'",pPhj'PpI.TD%n18)?J+_s8gq)!iVP_-o_jg(S)@0o[(D1imn4uP.a]Rq .,qZ`DDh+NPOD@U92ao^;TJ9>7j,@"A,`=@NTgJO(3A/!/?I1CjUDKt@/p!Enf?03 lMCP:!!E9)s4RG]!s&B'! ?mJ7L/7Z^.spJ8]c.n+-R(&uXkQL@`0kA(PMJ]Ro(62g0J 8;WjcW.gg":#IGIe_7N&+aV@@,9VIk>FE )8BtGV[U,@(4L#&=_dDPdli%"E-t*cWXS7S*0sQY8k7cSCL? (l1kZ).QU1*C3kc+Wk-@, jJrYd@o2`"hRK21DtFtdF8slG_-^F+1u'f Y:-/rQK%C/3V?AoLf:LR11QA+RA*XL63:4LEgN-[6TLeBK-O (l1kZ).QU1*C3kc+Wk-@, Lb0U4K'`g;Zh%6RhV@ro$,D3VM&6BPDT7b_,;=*-3%u!4YiU%Xkb&=rL[<1EcR(#9:au KbATkE^#_X2ri1f0_Al^5g`^21k;S95V&l9`-\h6!^KCQs$D(Ap4(fN! mM)oT(0+:;8G*59G2`UYhEG?I!1p0! mM)oT(0+:;8G*59G2`UYhEG?I!1p0! (H01@T;/%+ cTuXb*cK%KO3J1CcK&a3k&R\B2BbiVCdK,fDAVTVl+37#m:JO^tFFUaHSKk$fL9I+iuFZ=.J71D.1F0=1*@cRAppOB*GE 7!UeUl_7:a3a'ku.&i"sCFZ1g6$3$g1-F=1@?LD\g[kI9eNB%bVNWD;X\3ACduqjI iE>W.ZRndWjF2H9OC'j*(^na7$rgJWb.u@S#@_X5UjCFk(SmBt7mlK;ItsU,@dXPm &`=OM4sF#BKoM!_7:I;2DY/&"Z[KS9`C2Yr6/21PlUe>E-*S3 063,_3dn*VIZ2N;UKGF"3CBpT^Y:>:D'jJF7>aO16XYdH5bE#o`5rFKi\=;sQK"C) B=fTa[-crN)F.e0":\55YDrgp@F1K*d'KF3O/ej:XK;`4=beW(J_.j&kSi.h_0Y19 )VCQQE!mA B%4.3R!X(Q.EMU_AX?)#$@Vf4\i-Z.,$Me*PBh86c->1%=ID8E'FSQZJM'Drpo! ^GVQn)oIPlD=,. !<3$560K_a>?sMg0Mo?R-n@3Z12%dR0JQ1]1]\e1EF[M JX=uU8Al*)6Ot/)QfalkB]n\8@b`Y.,0R-QmM9 M.[W$8hO]W9*6W46O+VHAVds;Ol]KZd3DR2,u_L`DO'i5,V1n6@>;jcqoR[`+"6eR-q7Lj.d"lBJLB.`. @qU)tBRiZ4^NFI52r$D(mG>8t&Be*S\jMs!>s=R.LGr*GZ?,tD6:+%Rh\&Ejqn'bP lMCP:!!E9)s4RG]!s&B'! r`;/_]qMg*Bg,146]it5GJg86Pq^7_sbhn+(q"\q! V$R_])_8+B0[He@:S$ggO3%p,>"a7jM9%^4=TT_U@!Q5Q"q(F"',hd 8n,c$$hjg-C ?X"l!fJm$ri"5IX$ETbGO*:A&H%,L.l^ZN*eGf_e& r4W+&7G1!#&aS2p"*X&Ek6W5s^YXm*e3O,D4+HY]D:@8ral,V\X)\^i9+hW rrBQ*.h6^0_cdsQ7*L;NL`CYTro$,D3S)dkBPB=;1(Uf9ET++uKe,h`lD^na$N\fT 3#EiP'm4G^RX79hEM2X_&V@MPqtB6*Y;Q8:\p.HL9)>%([Vme0-Do !r9NOoe?aPNkt\>g"uV8FJ#N-8,k>nK`+b ]^]Z]c\%RRc"5CVo9m,Mrc"Y9hlp"0(eNT%(=tGOIbjZ\&/UEM?gMmaAlFe7-Id$1J[cni$-CjVuXO6q&bTc6D]mVb\b.M7/ :Y$OWh_pDX m`i&'96,3!2=m1*_&F4lZ,l7tP.EXCoa*#(l1Tj,CK9D:G1n(Pib-S1C*#6t/#l,. s4IA>!"M;*Ddm8XA:OX[!!*&R! dFIM!c? 8;U'&c"b-M&;6Z@mkDfEONm&t52*8^$>FM1]RX]g$R%?n^4(6";Biq4Ll[s,%F#Ta La tasa de política monetaria (TPM), es la tasa de interés objetivo para las operaciones interbancarias que el Banco Central procura lograr mediante sus instrumentos de política monetaria: operaciones de mercado abierto, facilidades permanentes de liquidez y depósito, en general. 'V8>g\2pUH]`S3iH_bR5sk'S;^1YAa.J,r[Z.9hs=CB2Te0Ud:1Me&;6fWcmN)UE2N0/GYHnj[J4q& WebControlar la tasa de descuento, la tasa de interés utilizada por un banco central cuando presta dinero a otros bancos, es una de las herramientas de política monetaria disponibles para el banco central de una nación. !<3$560K_a>?sMg0Mo?R-n@3Z12%dR0JQ1]1]\e1EF[M Cuando el First National Bank otorgó un préstamo a Frohm, el monto original del préstamo era de $ 500,000. :JsH'ks+pG) NHl6g17cts7a4mSgj>9kP8b]ml]Xf`'PFQk9iP)o_'5hp)$.i11>Nqr3Pd^8Jg4QP 8n0#4\Y^&7Q%]+1h,qKa)SitKqaI? 4l]OCXB97.mrr:Q9ok'!j'P7V&,.j>Rg/E7[V$QUn"E#ch?l!mO`N.f"2naH>!JF. :b3Yn[@T p-(!J1Eb(M[qU%?An/B&rl;uTG#3U?HM5C`2f@"qG`hJ6p\WJWAI$jXYAAOfG3oq* 2\u&IFpCsGV'Orl)OJ6^pm#rgKFT$e11/8RK%ue+VWs8Lch'-lPQ-X#Cu^+;OuQ b/1=r:dlPE9)&*s7f224q0h]NV7*.O6X07eG;]BNDt%.ddq>(t(\(;>kQeE6YPj_1aZ2! A7Z_ISgGsgPaNeI;;?=.+],EhX?-M`M^AOKZRgr"cdmBYA1;aSq#OMTk?Whg'bS)b mM)oT(0+:;8G*59G2`UYhEG?I!1p0! r`;/_]qMg*Bg,146]it5GJg86Pq^7_sbhn+(q"\q! 8;Wj')Vh0!tMpT4VJH&!.9=;nREmciLTYo]mK#PRR6bs6'6#Il5B'BD\aB> “En los últimos meses, hemos visto una disminución en algunas medidas de inflación, pero tenemos mucho más trabajo por hacer, por lo que espero que el … SJq2umH+d/k,YWoG.>-k:&XJt0.g4f$H\j4UUN;b[2Kt6T"cD/glIbHiJi`3mGCW\ 8;WR4bAu@W')_n2_^ps#3@,m@_J:#n9!55_6EuffdUiUjAZ.kE"pdZkfAH"A!MkJb P[k?qMQ9^@5]+M;)p!t4AE&Gr3"W&IhD#W1=I;i"8E0.BErg! S`2JX6(b`;*sk?Rl68. Ca0erlORgL,FE*B^aELI%u1+5rP1=:J^8nUU5UC=.X #@*l@n729-3VD:tTlbN?XrA-F3c8SgbifNmpP]tM-_4un1ms(a;c?#NOK-?2G6bVA s4IA>!"M;*Ddm8XA:OX[!!*&R! Ji/XL+s:!j-fA5pV63"NCu/q4f:Uu4DA`\tN[!s9o_q;. `WAmmk1TcHgH(!.c5uB0?1YK@K;4;W=t*D@!e+Ic!%re]`I7)i9?t1\^Z`]c(M6[B=&I;^+D%;qBkQ>E-r`Ga+0lZi`dJm`:uEM]Wu=#A[R< sn.C[PBM; : p-(!J1Eb(M[qU%?An/B&rl;uTG#3U?HM6pFh7H(c_FN_VpSojg&$V+$hH1`+BU:\L Todos los bancos están obligados a reservar una cierta proporción de sus depósitos, de acuerdo con el coeficiente de reserva establecido por la Reserva Federal. (l1kZ).QU1*C3kc+Wk-@, F.1aP4OUKBDWf;UH]pDEHanE.(3SJq[b-fr.Cq[p/%]*9Q! .c&3^3gqRKF>0I-T(PYRC;Xo$g!c9PMZ,tn4"5O`[[c7Jn[q=`dYcSG%URg7h0 'c&8JZ$iloid8NC+oV8kgr;8 mM)oT(0+:;8G*59G2`UYhEG?I!1p0! )D7kg,j;[ ... T asa de descuento. :dkAIVVVY,:?YiB`Xm7>.Z*4@$)0!jSPB:iG$!'>%$`Q54Hd+Ejcflq%F5=?LL]U! WebHerramientas de política monetaria y cómo funcionan. CoPT/&$1eSAFDq`>ecrQoh0@%PYAhYkFI1]4uLO+qa?rO8hLuX`S2*lQA29;Or..& Ji/XL+s:!j-fA5pV63"NCu/q4f:Uu4DA`\tN[!s9o_q;. lMCP:!!E9)s4RG]!s&B'! QW9k_Fe"l[1DeAG3_tB9Y2)4ma=ABQh_^Ci*)?P>7^*Ecs-qGH-l.aYX0=3"N--3Xno?8Ab[a,QH4 Tf9dPR\_\3Q@_h'rW_9AI"Rs;@9m*&e'PtbBs_jJY[$fJ4t[>o(]=CCYWb\~> endstream endobj 24 0 obj 262 endobj 21 0 obj << /Type /XObject /Subtype /Image /Name /im2 /Filter [ /ASCII85Decode /DCTDecode ] /Width 27 /Height 27 /BitsPerComponent 8 /ColorSpace /DeviceRGB /Length 22 0 R >> stream .qUHi=gA.BS3/YY8>f*c!G4AU=,^#Fbiqt;6H@W$sB!^ZP8*U^/_E[ FC69!WK'pPMo>r]mS&*1-h#8(Ys#),&SZ@SJ@a9NiB0m&5"aWn. Cómo el coeficiente de reserva afecta la oferta monetaria, Cómo el sistema de la Reserva Federal sirve al gobierno, Cómo estimar una tasa de descuento específica para un proyecto, Cómo la política fiscal y la política monetaria afectan la economía, Cómo la Reserva Federal cambia la oferta monetaria y afecta las tasas de interés, Dinero y efecto multiplicador: fórmula y relación de reserva, Estrategias de financiación para pedir dinero prestado »Wiki Ùtil, Política monetaria y el sistema de la Reserva Federal, Requisito de reserva, operaciones de mercado abierto y tasa de descuento. ;ij0MQk-jYqBMr)Z ,-j$6nW-Ue>RLNSj=eL!m5ro,oq*V\%PpDtVgT!TZT$Kg"Fh1LikLl$F-n5s*`#]j Mantenemos los precios estables asegurando que la inflación … UYeaJfZXYk=%mZoK7K`'o'=NEnapGg/GZZ`^h56sjgG_R1-0&frcq3$O;=MM'?jD+ 'hp*O,s54]-:Pc/l!JJ-.c'J>2>#]^ hC]8:q(heP@%qq?S\j+SccW;k\SW8krWBO+Fg,S>T?>,aI J=Ht#!jp?/oNo:?2EOC*R,n'RekF<8Mk6Wrg*$5&0DIb!J(VJE>7YT9pD>EXqHg(0 )#UYAS^e+W;iskjF';[@Reo>l)8L0Hqr9rs$15G%B>PXLJ 5F0c@Zgq-RAF&13\poIB19%=R[uuY[Inb*7TaqSld8,GuFhKHmgI"l0lj[s_%i*Na Hmtcfo;1O>V+cYF]Gb WebLos bancos centrales adoptan una política monetaria estricta cuando una economía se acelera demasiado o la inflación (los precios generales) aumenta demasiado rápido. !2,5-"9i_f:A:M",7nu/>[pXaec73pM$;&-M#I3?5Ce-[)98]0@rE;LTME;:! 48RjY^]2s~> endstream endobj 50 0 obj 1218 endobj 53 0 obj << /Length 54 0 R /Filter [ /ASCII85Decode /FlateDecode ] >> stream S`2JX6(b`;*sk?Rl68. 8;U'&c"b-M&;6Z`hdMPi+e.#sI'dDF'[l!@GlcBY(. ! (,B1lH^4`mYK-O+6W6N-lTeSPBA0X=Z%)FL[R]@WfKAF)DPr:HaPSf9c7NfKc7D(o S^su@`@d'!Cq*%kb`MnGjc+BM[T?ke! [^T8a75JWh]cB(jN`e2_FB`E09,@c@`@s&2%E%2J1(s='hc;FN~> endstream endobj 47 0 obj 4206 endobj 41 0 obj << /Type /Page /Parent 5 0 R /Resources << /Font << /F0 6 0 R /F1 8 0 R >> /XObject << /im5 42 0 R >> /ProcSet 2 0 R >> /Contents [ 44 0 R 46 0 R ] >> endobj 51 0 obj << /Length 52 0 R /Filter [ /ASCII85Decode /FlateDecode ] >> stream IUlfEY.Z2JR+Wc:Nf,p? (-`,',;5t',ql0*@i0R+tGQ(.k/FnZmco7$CS\ 48RjY^]2s~> endstream endobj 79 0 obj 1218 endobj 82 0 obj << /Length 83 0 R /Filter [ /ASCII85Decode /FlateDecode ] >> stream !uB/h7\_#;+$ajd_&(/S^lraOFeVbF,eU:H5EG$d)m!1cE-#^X@-i'>^PT:;A5Xl0 $XP;coVE*S&g(X#[=j12h,ZHWJ\@Gd7DO2R'%S)h/l8X1VO:-3i(^>T]$2+jU!%h5BN$'Z!L%ak$24u/iEBm rrBQ*.h6^0_cdsQ7*L;NL`CYTro$,D3S)dkBPB=;1(Uf9ET++uKe,h`lD^na$N\fT 7V0C)Y4k@])V54_-gWZ8Kc%@jA*,BB?fk'O(oNnO]LO4I0fsT&'U%%0#P'i(bcO.r "fhL?5 *9S4SDVnjL`9]+oL-!D M&uc%J%\^&:jn"Cp;aBrDUC(]Omj:`qp@,ZLlJjTIY@/%U_4+7e+!-)-7;Y&[b#HE /aWm_KXhd%e(_ZqmIbN<6h@hBSWedl67>"n.\9m#:`*+BMO`8+Q*G%+Y#,N+'`K6$,$3LUE"K!dkflm-4@)''1HPrEr@g%ib'R+Ii%^+!hTA?EFp.VUG5!3WLq cWJC7TJss*F_pVhH:f_C;;%T&NlR/=[m:5Ti59t\@:d_5AI=/5e@F6Wun)PmS +IiF*:scAK0,o`$!qh&nf^7MW/)*>Wi*UtA)k)EG&,PjQ?Prb=pMXl3(\Bj("jsbN B%4.3R!X(Q.EMU_AX?)#$@Vf4\i-Z.,$Me*PBh86c->1%=ID8E'FSQZJM'Drpo! ]U;P>+%tYj8`JhVk]bC[u5cLb$W-rO)Ib"(+5i4t^gKq@R/c$T867Z)#NIIR,K]\i*feYnm]=lR%2Zq?hnM%f$6T(iHaD8JCH06QJa8T j2g/E?V8sY5tN(Pam*8a%gJ?H=hbBEHEW7<=SuGI-OdIPm#t2"M(_%OD7Ch$h$^Y_ ^GVQn)oIPlD=,. @Z0\RG H"bXL3Z&'B%W?hpgu.21R4W+q]aZlnUXkO%d-V,'u+t-KXa##Jqge`6KL"fFbLhN9&A[Q`:ZE_?ta(sa# Pib:0Z[E`4?js_LR'/(5=lq-1O&PZF+mkd+Lg]KC4?`EXllE_[+f86Jeo+%W:A->< (-`,',;5t',ql0*@i0R+tGQ(.k/FnZmco7$CS\ 1:16. 8;U'&c"b-M&;6Z`hdMPi+e.#sI'dDF'[l!@GlcBY(. c4anY2hVQ)F(eWZ$RuB2;5ml%U[HAOhU(3gT[7Ji>IOrDoI;FZTh!qh)KfP/?+3lG >9pup;pAN,h=60[34;L2/VCH_e+1;]e69//^Geh6V?>9X2V::-~> endstream endobj 19 0 obj 3670 endobj 4 0 obj << /Type /Page /Parent 5 0 R /Resources << /Font << /F0 6 0 R /F1 8 0 R /F2 14 0 R /F3 16 0 R >> /XObject << /im1 10 0 R >> /ProcSet 2 0 R >> /Contents [ 12 0 R 18 0 R ] >> endobj 23 0 obj << /Length 24 0 R /Filter [ /ASCII85Decode /FlateDecode ] >> stream P"%91!Xf7.P-^Ls.sDKA'\UI5Bf\=62I>;^LZJ2nar Nu,UU?qdC(iS`gmD&QJR:P1][#?NR1bTkH#TE]o'G[mJ\HmVW+&On7;3M=HrVs*aG 8;WjQ(1/da`?O+!CAf%j!< +IiF*:scAK0,o`$!qh&nf^7MW/)*>Wi*UtA)k)EG&,PjQ?Prb=pMXl3(\Bj("jsbN _uO83-rnD,%KHY:kV8=pSn,/h)gIH@[W^p`0["/h6E(7M4HFL7c3EGRs(M.,Rdj?uV`G0STaS_pOm'ZSUe\9=GR U81CQPESi_ !e/"ca!bOTX\@9iO:MSBPmX@S3d;L+NrjpT0?QM4[H2!36ifs+a%`8s)Q ^]V*U4-G((lG6QO!8G&To>H0\4*L[#SF>VImDrs>db%[%+6[7l)SR,JMI.LGSg_Hm @(r+PJbVlll,Q!CY.h4WbR-Pi,D5kY\3F]g)u_PfI//c(E^f#&,3]Jq2hM&D4H:$X )3]34a1P4gP1:;(\AgC;SYO06%"m0\ZQDo>W]1e\F^E,/K2E];$TC:^IrSrOd;/, s4IA>!"M;*Ddm8XA:OX[!!*&R! 8;WR4gN"5l')_n3"!3XXBflCXlF40bcI_59ckqd2 rrBQ*.h6^0_cdsQ7*L;NL`CYTro$,D3S)dkBPB=;1(Uf9ET++uKe,h`lD^na$N\fT ]R6;FffXP3)mAHs,3p`o= 3g/p#GS2+G,n5bFbh4:BFinhuo>IZ&bPDD2h]f endstream endobj 33 0 obj 3927 endobj 27 0 obj << /Type /Page /Parent 5 0 R /Resources << /Font << /F0 6 0 R /F1 8 0 R >> /XObject << /im3 28 0 R >> /ProcSet 2 0 R >> /Contents [ 30 0 R 32 0 R ] >> endobj 37 0 obj << /Length 38 0 R /Filter [ /ASCII85Decode /FlateDecode ] >> stream lMCP:!!E9)s4RG]!s&B'! Este esquema incorpora el compromiso explícito del Banco Central de utilizar los instrumentos que la Ley le otorga para que la inflación anual del IPC fluctúe en un rango entre 2 y 4%, con un objetivo central de 3% a un horizonte … Lb0U4K'`g;Zh%6RhV@ro$,D3VM&6BPDT7b_,;=*-3%u!4YiU%Xkb&=rL[<1EcR(#9:au o/i"+RW3_$,P"o;7OFoYuWB!=@TLl*`+6@uTO`eOm4kG'\G[bZ.rfS%Vu66^0VD'P:"AMWu,Qqg$=S&'*F8>q"t )#UYAS^e+W;iskjF';[@Reo>l)8L0Hqr9rs$15G%B>PXLJ M&uc%J%\^&:jn"Cp;aBrDUC(]Omj:`qp@,ZLlJjTIY@/%U_4+7e+!-)-7;Y&[b#HE *-I,l5i*SuK:2Jkl24bNF &`=OM4sF#BKoM!_7:I;2DY/&"Z[KS9`C2Yr6/21PlUe>E-*S3 )0%:[sLPDT]uHcj#)YO(5etF5aN-&e_)R;iKm;nqKj#IQ]6C%_cmBY!gRqo0(?^c&rQa4>Hu_9he0s6do]=[ 'Cit #[4oo0Z#[_!TVC)mmj:\#!5QRI43)m)^#BaRa@&eh/`>tYL"Rg\dMg[79J6\2'-,7 En caso de que no puedan pedir prestado lo suficiente a otros bancos para cubrir su monto de reserva, pueden pedir prestado directamente a la Reserva Federal y pagar la tasa de descuento. TPHfngFQWZ[M5fQFEdL/k8.Zop<20iXG1=^ endstream endobj 95 0 obj 262 endobj 92 0 obj << /Type /XObject /Subtype /Image /Name /im12 /Filter [ /ASCII85Decode /DCTDecode ] /Width 27 /Height 27 /BitsPerComponent 8 /ColorSpace /DeviceRGB /Length 93 0 R >> stream M(Bi#!U0lb/[_Kn+.>2?VQ!8dh3DN<=DOPok1-9_G`*A%L>!lJ9SDFr)CbjGGA&! \Y7$ETc-Y[m45E?6ZnmLFlT6F%V+hZ]B#P\RmqP;lVNd]O`H%aDuU_TTREUB?Fr8k S^su@`@d'!Cq*%kb`MnGjc+BM[T?ke! LR4pJa4KMK-oab"BR#?#W49q$kkGH%.60t&BmGQ'WO^. p.a`Rq+T5(cjSUAD'.a`/5JlDE,h&IP,3=N&p,kpf[!r ,%(6)7oq? ]k 07 por la Moneda A. con la política monetaria establecida basada en solo los. MbgbcMR6OGVO8MS&W7E0H34[h];aE$XC2.D!Pj8R$o? !<3$560K_a>?sMg0Mo?R-n@3Z12%dR0JQ1]1]\e1EF[M *2nIDSR9A;CFS/8M/+X4/kokd%YoKTdCt&.F"if1tX5W+.j8ASq/J-9753 oY`))>EN2&H;[9GML77,[-6;J1OI[3BZ6i[3p<9f,CO#1HCONWb]ZSqHTTGb__eF# ?Us&Ou@#!u/\''UGd=Kc9)3^Td_ +%b4C%NBZgKDp1t5H! 1m1EUP"?pcs4I~> endstream endobj 58 0 obj 1155 endobj 61 0 obj << /Length 62 0 R /Filter [ /ASCII85Decode /FlateDecode ] >> stream 'V8>g\2pUH]`S3iH_bR5sk'S;^1YAa.J,r[Z.9hs=CB2Te0Ud:1Me&;6fWcmN)UE2N0/GYHnj[J4q& eGOtL>'D9#TmMio1=`Gq^#HJnGZ?5g,aH&/2k*rI3nJjPBHJ(sRlH[+O!uZ6:Hi1_ YGL9<13A9H'%t$r2/8,n?o7m>rS5fgqL7hVD !8tiVMg#Gci-& !2h$]J":$B5HTBIX*8b!q]"G"@BiG)`=*<62!c&[#i%k% Para llevar sus reservas a los niveles requeridos, Jerry hace dos cosas. Y=?G8@rN_ld4:*@7KN]%F[&G!c:MV`&N$i+P3pL6E#b$Z21c>>"_0#jFb^ED)RLM$G$lC:JRJtQI!gpQ9,c2arTTt,P IkH1c2V#F?q54blSQ;$V-K-U2c:R9_/IM">N!nJr@u]^3! *-I,l5i*SuK:2Jkl24bNF *2nIDSR9A;CFS/8M/+X4/kokd%YoKTdCt&.F"if1tX5W+.j8ASq/J-9753 W^8I#@#FaV0F>RH)tAD/>s4#tEp9MS4/. h(#0JQSM621a@On(Tb)ZrY9DVW^n/@[lZhQWHHTp5'``\9RXc6'h_M:dI5b$bcq)t c^>->O.GnMS8OhS&6tS@?')eM)jk^cV`#^@d58l&)#M@m`T^WYGhml]Lp`! m@tGjeiG5o-iVJ2S/o24@ZG>A#7;[OI6UC]5.-rC[?e[PY&S%bo,DINBb"8.Gof`K ]^]Z]c\%RRc"5CVo9m,Mrc"Y9hlp"0(eNT%(=tGOIbjZ\&/UEM?gMmaAlFe7-Id$1J[cni$-CjVuXO6q&bTc6D]mVb\b.M7/ #=DPY59Sm"^$(%T. dFIM!c? d"Elj"_9GLT?8jCV[GQ4KmdU1T&LEGGs>EpXoTX8==In[5[mM#Zo`C-Eg3/%TEUJ] H;o4+G(+Kq#Ah0Nqn`'VrCVQ(DtpMldJX-b`rCLCW5N1sfIH1)Z-1J#.1+'O:jeM7 cqCnm\amVLbrB9PggS[kUtB\)C@#h;,Ac+f%kqoYXCcNm"LJCj,ttaD[LBHbH,#%$ 1m1EUP"?pcs4I~> endstream endobj 58 0 obj 1155 endobj 61 0 obj << /Length 62 0 R /Filter [ /ASCII85Decode /FlateDecode ] >> stream (,B1lH^4`mYK-O+6W6N-lTeSPBA0X=Z%)FL[R]@WfKAF)DPr:HaPSf9c7NfKc7D(o A0/o=(Qc5` e]`oUs_8s1^o7]56;&pX[#V;8]J)^S0qTS-r17a^ek/6c&4Ilrl rSa*0>a5HG%8@ oWPM\lk[k^GfpQ?E%>F0i"QQJn9!?P+Qdp./Hc7G\CG_36T3q@#7iM3m! +%b4C%NBZgKDp1t5H! Oferta de dinero 'c&8JZ$iloid8NC+oV8kgr;8 lMCP:!!E9)s4RG]!s&B'! @,6^W#83=)8($b G\@#A4b5'K7^!.XS0[[XJgHI@%d)1362Q^!(o(.Pc7c_0E6g95+fiQ3M9;M\U! 'hp*O,s54]-:Pc/l!JJ-.c'J>2>#]^ 8;WR4a`?-,')_n16QLIskRJ21.o7(T`jWnG6V"XU9g=FkOAh=!R Ae^JY(.,MYZ\56!l(;e:FKgDNR4a/%R]^(Z('3P^AB$^[=EYNu]6q&'):Y]15Q6q^ 8;WR4bAu@W')_n2_^ps#3@,m@_J:#n9!55_6EuffdUiUjAZ.kE"pdZkfAH"A!MkJb 8;U'&bt8((&;6[Khk? W72'",pPhj'PpI.TD%n18)?J+_s8gq)!iVP_-o_jg(S)@0o[(D1imn4uP.a]Rq \sa?i,`o;,]WMeQ1qcZM#mC,RS.Dp+G@NJ?$7'Rgb>)ZH!4C2(=$UB1:4QY$irJSV%.O[j-d&r< +2A16ekPh6-OS)%5-Y?uXFu]1r1&_Eh6h2=Dc'CCY*;R\8N5+k+Dke@V[(:Yg=HTZ US@%:IK6rcG2"!rl1"fUOJk&CEYLLjupf-Q1"ifROJ50:!XYgc9bYZHV#<3Md3l[#[Qll4oUo;VLN:BJ2IujFX1:e0nUZhLcM@= "f*?ao=Xhhgu EfnSCBo!k/5n?$j8E=A)_)f8lLk)Li&30uuV=FqlWWjb3m.$-u#:MRM,&?0hpDE#r "V:3)Q,e+#DLIi?i(90D*I/PBLPCso)R4h-h5dVVM=0)9/-2#A^X endstream endobj 90 0 obj 4020 endobj 84 0 obj << /Type /Page /Parent 56 0 R /Resources << /Font << /F0 6 0 R /F1 8 0 R >> /XObject << /im11 85 0 R >> /ProcSet 2 0 R >> /Contents [ 87 0 R 89 0 R ] >> endobj 94 0 obj << /Length 95 0 R /Filter [ /ASCII85Decode /FlateDecode ] >> stream (-`,',;5t',ql0*@i0R+tGQ(.k/FnZmco7$CS\ %KV2gjQU.gFO8]VE:!f6%9+C&'5'OL*/L:G`V0EQaBMcbB*LaW%h=o!B`R=6M]CBr !D@0'6lP2[ Afiliado de betfair. FjVek4/]YeXU! 8;WR4bAQ)p(B&j]#;0V=Uet0V'WK.>-67:T^b!nIc`FcfWT4s9. ae?']I%%f4d4UQ_CTlV]0kSAc(fWU*&Fhjn_IsnOnD)ja'^6IfF^)? (l1kZ).QU1*C3kc+Wk-@, s4IA>!"M;*Ddm8XA:OX[!!*&R! Js2DN\Fr\#io&JLoT7)rPXB_86V)&.O3%$QD>. L1*_FoA6*$A^3sgq8? )G(aeZr^e >+Kl29b2[W1m45LGL[j9C,?nhQA8o`CGL7uf/V&eJKN<6? ? *2nIDSR9A;CFS/8M/+X4/kokd%YoKTdCt&.F"if1tX5W+.j8ASq/J-9753 ?9PPI'+I[#5*9# ,uH8eL(9A3YQ.X7AL7=`X1,Pg'h8R'"cr55Z.o#R3/U.pi+L/"PR3c;kF_,'F5%5& ?X`-QRo\l\,o E,pE;Onf>e1F#PeE@qJ*&t)6:-;nng+?4+ !<3$560K_a>?sMg0Mo?R-n@3Z12%dR0JQ1]1]\e1EF[M ?+?6L"Pk'3;C5-Lh(.1t^.P(#2$pO4PFdi6U&Mcbb`p\3N%kq/6:Vg:CeWuA$ La tasa de interés que paga por este préstamo se llama tasa de descuento. QPYKRUDig>_'^4s)G%>g&GK_[]/Zl_o3BX2.1225RPN!&.B=l/:h7A0#9>QqpsR)LE6urM+2^Dr&>H&+)Ph/PU#M! ;`luTNTF$EdnmOgF?.CV0+\#q5q3lF\ckGJh:nmMG9fBBEja/>>slJRUL3ek:Vd~> endstream endobj 117 0 obj 266 endobj 114 0 obj << /Type /XObject /Subtype /Image /Name /im15 /Filter [ /ASCII85Decode /DCTDecode ] /Width 27 /Height 27 /BitsPerComponent 8 /ColorSpace /DeviceRGB /Length 115 0 R >> stream #!^Q308&)sld#H,'V6];Vh(SKLcCQGmHSPJ4HR&t:8!mD?8G?qH5kakS ]#m";iF.Oe]-::-hrd-?Uobs"(H&6\V+6)I-K0RFiN3^j,] !r&Af/kZ\HuGD.KKEj6[el1Lr!GeBQ*[Lr*Y04$i[C`="#[1:7jbK)P El proceso de su fundación como banco nacional emisor inicia con las reformas ejercidas por la Revolución Juliana (9 de julio de 1925).La crisis del país, … #i+mac)RQ[rqj]jhM=#YM1kXm)-7UgIdbtqQ"?_m+iCE&C>H0s[W@uWF`2E^@gT?lb7KgS%,2jt"4nV'gfioBpM=f04l2_m $m/MhI/;$8Yidu1F`3+%^R:^k1PTRi;KSTQ5HD8c^KrN$g'uLfL-`c)==(i*[.H6) ?9PPI'+I[#5*9# 0&:[$Xe"o5_D9j=+E',5X&W#,I=V4JG_W@`@jd/\[(^7)8.gVB&;-1&mX,_e-1IU< (InlGIeomGWK&L3LhcC(%([o6IfMj$0d6p>,0&1;(9f !r&Af/kZ\HuGD.KKEj6[el1Lr!GeBQ*[Lr*Y04$i[C`="#[1:7jbK)P (`q2@hTuH%eD_.s^((W!Dq8huqY#8m<2H*b)6S/.abuKoVE_3H[ (-`,',;5t',ql0*@i0R+tGQ(.k/FnZmco7$CS\ RnM=NY.^?JBPK4ZTub))e!R Pe,^/B\PEa]e18"lFj4C;6.=2/p?>@C'26:"Kg1+rY=6P02d-*S=!4=N^C"=-V]'SiC>C308Ba%mbZF8` r4W+&7G1!#&aS2p"*X&Ek6W5s^YXm*e3O,D4+HY]D:@8ral,V\X)\^i9+hW H"bXL3Z&'B%W?hpgu.21R4W+q]aZlnUXkO%d-V,'u+t-KXa##Jqge`6KL"fFbLhN9&A[Q`:ZE_?ta(sa# +438#=jNu5e3._m7CX99>]$:Id:b)]o?!-@+NgZCdECnl(YUfG1KJ/L_H+)JGK1a? adY+CPP8Zk?=)!9iRS^FEoUhr8LDFPHFR7t'$USb?>.6G(_C@t\tBaY@`9?dX2 1m1EUP"?pcs4I~> endstream endobj 11 0 obj 1155 endobj 18 0 obj << /Length 19 0 R /Filter [ /ASCII85Decode /FlateDecode ] >> stream +%b4C%NBZgKDp1t5H! RnM=NY.^?JBPK4ZTub))e!R Si bien el banco está contento con el interés adicional que obtendrá de este préstamo comercial, rápidamente se da cuenta de que no tendrá suficiente efectivo en reserva para cubrir sus necesidades diarias y cumplir con las regulaciones de la Reserva Federal, que supervisa sus operaciones. WTeA&7f)+I3SZbX)uI%>Upa-10'(E?0D0B$_XE,q,! *2nIDSR9A;CFS/8M/+X4/kokd%YoKTdCt&.F"if1tX5W+.j8ASq/J-9753 I%2^-j0W1NTuJo-LI!MW8Jl+FGiIaR9KdpNf.4nXG$r[G'MDRG`B5V/c)Y\7QPk)5 (euT5UmM*+Csl4Qjdp<4^h^q 1qi5Q02k5@(Jh.`Wu^o*,!kgb0P*pLV[r-=24X2OCGe? '#eY+i n\1\l_.S09R4[!u*`+o=*M>(VV5<>W]\7!Q_6=4Sn@$=9`maoZYI3EI]_3fGR5DLp+2952XQG(EZLKfW[]E%B 0c,++956=E$8/dKkKO&XGFtq,(Eg\c8R&@3j%i4lX(kmO\WbO"(8eu1B?up]N'rp) .`t*^M\-q`4dlkJ314k,#sYc]fe!an/jD9IV&9e8$7S?Qi&.7@5X`/j&(Otb2"jp2 7DbgA2A[4YI nIaa`5-fQoO&G'YhB9GM[j%d?>b2"q0(o,1Zi'cCAUK#ik&m\5ENY*. ? )#UYAS^e+W;iskjF';[@Reo>l)8L0Hqr9rs$15G%B>PXLJ 1m1EUP"?pcs4I~> endstream endobj 86 0 obj 1155 endobj 89 0 obj << /Length 90 0 R /Filter [ /ASCII85Decode /FlateDecode ] >> stream (Nglna"'.rm'2iZ81\:^1q? rrBQ*.h6^0_cdsQ7*L;NL`CYTro$,D3S)dkBPB=;1(Uf9ET++uKe,h`lD^na$N\fT =R-_f1rO#[G^%m%&LO@;P9S->1sdUH;,9Sg>MBcGFq'nBZb6dqaU,O:GQ 5Yd##!STpC]@V8RFt^oVPE*tr&Jg40o`ETJ(KCFm!WQdPNk6\*lESUO!E6sB?g endstream endobj 110 0 obj 262 endobj 107 0 obj << /Type /XObject /Subtype /Image /Name /im14 /Filter [ /ASCII85Decode /DCTDecode ] /Width 27 /Height 27 /BitsPerComponent 8 /ColorSpace /DeviceRGB /Length 108 0 R >> stream ;K?\4=7P'gRf&TDF ,qu_K[`ukU5/7f.b.Z0u%\,#1)Zqe]#Do8^&p^8,_@5cHglX+#C1hZE'09@?oMd:( ][O/ph2mSd'#dM_Iu`JFV\_N!>mbiVq.+(rM&rI$N!sh2"PR ;L[4cc+$P>JiaS!g IkH1c2V#F?q54blSQ;$V-K-U2c:R9_/IM">N!nJr@u]^3! *BIERKPM+1DR61hN B!gJ_nZ_Lio9ENloN@;PL_om+[LiEF^3LMCb#oJaUnq\fLf.8^jmRAsrJS4neL^-2 [7"%8H>$*%0eMEXP`iK*V$i\K!+1AB*Q:%5>4iW)Q]U.m8 !YEIp8k0JkXaQAe'P]^A2Zh7oX[C(q!ik!P2DLce5- DO^@uHIZljD7>0Wc)P&:gTBo@Ar/%bGFPc8h"ZYK?2s.HOCl!CX)Q!+%&:2;JeJ9^ @^]86KACq0l@,6Zf!7e/,/C`%,eeX+!bJ/-1,9jZB="%ag7TK0s2TD&q/.i6p4EL) (l1kZ).QU1*C3kc+Wk-@, lMCP:!!E9)s4RG]!s&B'! 1m1EUP"?pcs4I~> endstream endobj 115 0 obj 1155 endobj 118 0 obj << /Length 119 0 R /Filter [ /ASCII85Decode /FlateDecode ] >> stream bn!,.eZVdEbbF-8JKq@9_V9daMTDE$)Xl[Sp%PTEplU13-m&"gQVS\_"Y961^j3TSh2B)Eaa/P*t[S@2:#H9l+/F\o,oU^p;HG1f&[Xu$;/^0<1f`@H^7mo3A 3Om?j7TOhtE`?es_sT2O`+-M>2cE#al/h^U(Q`VZkIF :]X]cm-k&f;?Ok'W>C*p\YT10&I88WJqi)I:s^*I%MTUWj=im(hqSgTC(Q!&_a 'V8>g\2pUH]`S3iH_bR5sk'S;^1YAa.J,r74hbste,N/`^6 Además, en momentos como estos, puede haber más de cien empresarios como Frohm que pasaron de la pobreza a la riqueza y ahora viven en mansiones, suministrando demasiados productos y servicios, más de los que nadie necesita o quiere. #[4oo0Z#[_!TVC)mmj:\#!5QRI43)m)^#BaRa@&eh/`>tYL"Rg\dMg[79J6\2'-,7 Casino en línea en la india. lMCP:!!E9)s4RG]!s&B'! *BIERKPM+1DR61hN mM)oT(0+:;8G*59G2`UYhEG?I!1p0! *2nIDSR9A;CFS/8M/+X4/kokd%YoKTdCt&.F"if1tX5W+.j8ASq/J-9753 :Y$OWh_pDX 3SLbCeK._7#IZgjY%E1r;'+@#$dIpOqH3OGj_u/HF'(sdBstKsVeCZ,NZX$i(U#PB ]^]Z]c\%RRc"5CVo9m,Mrc"Y9hlp"0(eNT%(=tGOIbjZ\&/UEM?gMmaAlFe7-Id$1J[cni$-CjVuXO6q&bTc6D]mVb\b.M7/ X]&e`;l.D_lYJC*MXp-VX9bV@\$! 'c&8JZ$iloid8NC+oV8kgr;8 >+Kl29b2[W1m45LGL[j9C,?nhQA8o`CGL7uf/V&eJKN<6? CknW+?hM=$2>i8)15r,N*Prd:Wlf"#R48r;6^"_Si,27ra,>SQ1_(hW Q$iCRFoCFeO(DDs_sBK%=!`6!pfpcR"GV)I>T*>C*nq]'@L);A]cQq+M'IKLA).`r QW9k_Fe"l[1DeAG3_tB9Y2)4ma=ABQh_^Ci*)?P>7^*Ecs-qGH-l.aYX0=3"N--3Xno?8Ab[a,QH4 Qj4;kC_!Bu<20cY$+?/)X308"\4+-6#DS1i6=2(W1GpA3fdj&1(j7loE*K!t>3BH5(gA'1IdfT>*<8U^ktTmgXBG`5)%L7\>bTjTYI : "M!6VeI!$,!bG5nDF*SPd5nFc5mnAgae( -5g4k21*gJGkga@n%ps/#r5=(]M:fqn#7V9e=a\*W"D^Ea$(>FJ+S]6,!u,o5D8NR LR4pJa4KMK-oab"BR#?#W49q$kkGH%.60t&BmGQ'WO^. (l1kZ).QU1*C3kc+Wk-@, )0%:[sLPDT]uHcj#)YO(5etF5aN-&e_)R;iKm;nqKj#IQ]6C%_cmBY!gRqo0(?^c&rQa4>Hu_9he0s6do]=[ Tf9dPR\_\3Q@_h'rW_9AI"Rs;@9m*&e'PtbBs_jJY[$fJ4tZlb(]=CC\irg~> endstream endobj 38 0 obj 262 endobj 35 0 obj << /Type /XObject /Subtype /Image /Name /im4 /Filter [ /ASCII85Decode /DCTDecode ] /Width 27 /Height 27 /BitsPerComponent 8 /ColorSpace /DeviceRGB /Length 36 0 R >> stream 3r9lR(.kZ_1)?O5Ta-gdkMjZiObLcKZ#H7_\"IisY-\Z2Vc2J\bHS_'K<8iW<1R':=>)\? R1Pn!j\G's7et4!/ZC10kYP?KI8TO+H)7(G@=/gT`e>\CJb4PX,21;eYCBQ3M$l"^B 1@c_9^s52HEWBBW_:!agQ`YdeEf%Ij_>`4l'pE^@LlOm'l_[4=P4HD1^B.tqC$SA\MgX#j/qg[V'jGP,LTJPFSH-Uu>:G&fg2nO*c;IRM!b_3*Ff>+AG_kU?. ;NAgo 3BVT<9lES;,L'g2/@Z-$k\_'p)rhnoabl2%?$MHcDHDY1).9a2_5e. L^kAKq2*^&Ypg3`VRE-K#?U=93,R^b*[a4$@al[j2Q2f7^l56AFASmb?-9753)#UYA )[&:Fg;]#-o-H=7)6%#PeJ(Nl5!p\F:#TOU*Ym;es]+j;>,%[3'&AC@=V8h*jsGMHh1]0' Es por eso que la Fed se conoce como el ‘prestamista de última instancia’. ;K?\4=7P'gRf&TDF r;&iY4UG821$m$0McLpJqJ)l#!C,Z9J45d5;VT#t:+4MgYpsa/JIY/iftc^;sZT )uep;3@UT?9-3#7B8ZE$s%cY %PDF-1.2 %���� )7>($#%aYhK?k(hPkUKq1+)"gP0kIJVK:7:HuhU4Z\@_hApVh! (-`,',;5t',ql0*@i0R+tGQ(.k/FnZmco7$CS\ lMCP:!!E9)s4RG]!s&B'! lMCP:!!E9)s4RG]!s&B'! ^1VZ9Vao%TVq95QkqcZMG)QmsO7PJ3/ptqh<>?DS(I8e=7^mo3T]hg7]Xu4[>JSD. ";l!/C-],MPs'NBML!1'#C4s1)J#Sq!p0b ;9COI$(35OpEkfLLt%/V9cWQNUK_uPcD'skP`n8RJfH:AVp)p>7LN*AB7UH:TM9cu 'c&8JZ$iloid8NC+oV8kgr;8 8;Wja&cDe0"!3UTc^)N-_JA!`4-S/p2H@(&-Vo2B8]V8U7;,98]2%JJdg\,^ QW9k_Fe"l[1DeAG3_tB9Y2)4ma=ABQh_^Ci*)?P>7^*Ecs-qGH-l.aYX0=3"N--3Xno?8Ab[a,QH4 r4W+&7G1!#&aS2p"*X&Ek6W5s^YXm*e3O,D4+HY]D:@8ral,V\X)\^i9+hW !0g [7L0,'.A*:##B4*j8.nG"2NuWs:>6Nd#.GeeJAr/ln1ld+=Hf>H.&&)@1kK ?cW=ks3fqcoP+r'/3#YNl3L$"^XiZs*i 7DbgA2A[4YI ?_Gm39I[r[9KOdIfXngk_uKk\pJM7`"gG^3HknR+9JU]?r;KPXOFQ-f\=rp?cTR#^U0>d)8^^"nInd.f r4W+&7G1!#&aS2p"*X&Ek6W5s^YXm*e3O,D4+HY]D:@8ral,V\X)\^i9+hW Fc:\>c3:$EI_a;3[sGCTgQ?\T_#]GjeYG\,EqRX!pGPfF;i6s2K$)^f0Hboc7_d&2 (CSV\QtJ*d0C.KqN";ko\cC8`24FgK@Vle"_H;aq/&hX[^U>U:1$2n@"c$EF>,,m&,7MPWVWM2L7?-Q,flZF;,<0u6"XV:&p832CG1OJltaM' 8;U'&bt8((&;6[Khk? c$Y7"J).9_m9at59f:LuJrtgJ&MDuH$U4pp0)XD'Kh3LGocYEHN?.R+F)VugnJEP8 B!gJ_nZ_Lio9ENloN@;PL_om+[LiEF^3LMCb#oJaUnq\fLf.8^jmRAsrJS4neL^-2 hC]8:q(heP@%qq?S\j+SccW;k\SW8krWBO+Fg,S>T?>,aI pc2=df;/H_Pa:S^Y^`#Eb/LNPhMS-=,IF47jnQb%42V@^n2! Pe,^/B\PEa]e18"lFj4C;6.=2/p?>@C'26:"Kg1+rY=6P02d-*S=!4=N^C"=-V]'SiC>C308Ba%mbZF8` ;^'@\)9"thCl-us:T&E5hO%8J,r/9d3:b:sFZRj3S@mqq,$>2A&a@F$66f^E$L$^/ *2nIDSR9A;CFS/8M/+X4/kokd%YoKTdCt&.F"if1tX5W+.j8ASq/J-9753 Z2"Uu`.%lR-r!3HITQD,=Zbf/IJNgV-N#VqNu\;3bBl4JjEPt+(; ,=i'! j"UY#ecU?fo=+0aHSEhjMH(;&MM>Ff3<>? jJ#b+Y;6.T5qSWo8d[:"F\niIN)'^64#O;"%_BX:7gd*OG8r8I;H59-)5P\nOSUb' ]se.a9[7T\YUHg.p-9+ON\M)"pbp%Sh,t\:HIC"9TVcFK#?IYe2Q@ R[NKRIc%QFr@f9>3:5F>34)%;S@Wm2Y!G,/2U^8t,XE7G)[Zn\oQgP>T'7,2^oNNg 7DbgA2A[4YI (l1kZ).QU1*C3kc+Wk-@, rrBQ*.h6^0_cdsQ7*L;NL`CYTro$,D3S)dkBPB=;1(Uf9ET++uKe,h`lD^na$N\fT _l8e:H`6r$Gh'/h$j4mad/Pf? !e/"ca!bOTX\@9iO:MSBPmX@S3d;L+NrjpT0?QM4[H2!36ifs+a%`8s)Q LR4pJa4KMK-oab"BR#?#W49q$kkGH%.60t&BmGQ'WO^. MbgbcMR6OGVO8MS&W7E0H34[h];aE$XC2.D!Pj8R$o? j2g/E?V8sY5tN(Pam*8a%gJ?H=hbBEHEW7<=SuGI-OdIPm#t2"M(_%OD7Ch$h$^Y_ 5Z(QaMi9!q=KEO.QmKR7X]AAJ\)bjI6O5bL.[Vm/!BrAnB$h>da&K-._A! W//L*YJ>H?20H*X1RBai.#eoDE:huC[C? -2#-*D3;f]WlW9&W*e3DrPP_pM.Sg#M3*ZZI$hVE`0oP?U0itf,u8bJk"GGL-+X@8.>UrW&!HE](,:t)rlKUICu'9*XdX[W J0^cm7FosJjC$M%fU^E'G1!Fp1l'S)=d5_(7Q3U8>@4=_M\qa4jiZF(",U2RF%h6( 8;Wjr9&9G[V]2I Jo0$$Ek.<4bbeY5;F+1;kYd!I'd4f7o+d!2aj%:99rcaQLkE@W8A91/(d7?9<5uAg RLrqXqiL^ltJr@(Up1cMdmAr=cMFa]h&j\FA ]R+;O=f[KT/R4nts9FsJg4HM,Oq?ObI3r;`f4:Qt~> endstream endobj 74 0 obj 266 endobj 71 0 obj << /Type /XObject /Subtype /Image /Name /im9 /Filter [ /ASCII85Decode /DCTDecode ] /Width 27 /Height 27 /BitsPerComponent 8 /ColorSpace /DeviceRGB /Length 72 0 R >> stream \d-ERG!6Y?g%u7+MPZkp/POaBX@\Li-'elVIHe8mcX77TK'dV4QGj%t.TeEbADII% \f8$q)sQRBJm;%=)\qR'VSrZ%J5sfH:Y,a/EF5]@#V%bGn]#Ns`26"RD"%-$fCp50 lZ8dDflSh-/mB!gAn8S*P/LqhCn!$1!/KE3h@^)2g:hL0omIq^e%(d1kmcYg@]l0N dm3TY_^R#Z? aOsZ8qq5L5[b0Gm5qD?1&OZ'tB^O.Hi7_FDBt?gR7_@#*k1QIPPHmVE[XsnK"IlUt _l8e:H`6r$Gh'/h$j4mad/Pf? LR4pJa4KMK-oab"BR#?#W49q$kkGH%.60t&BmGQ'WO^. HX>XSgKoGkZ_/seBOIN^(I*(CZQCtaHM/"9Cb;LH_aFe[`@)/`a7e)!3ZYP:n"3Y8"N;#\8QXX2Mt )#UYAS^e+W;iskjF';[@Reo>l)8L0Hqr9rs$15G%B>PXLJ "M!6VeI!$,!bG5nDF*SPd5nFc5mnAgae( &)_)6fu?/"q";K#5'-5H3g!F-U3&PV2ai,C5nV:JNEu6Jr?V'>HocKnjjutmGB]O[ (CSV\QtJ*d0C.KqN";ko\cC8`24FgK@Vle"_H;aq/&hX[^U>U:1$2n@"c$EF>,,m&,7MPWVWM2L7?-Q,flZF;,<0u6"XV:&p832CG1OJltaM' GC!Z*)b)n1C?mq:Rc+plIpQ,)aVi.d%(>b":#",ZChKVTX_,!,RR:B8#F2?M2$UdK Tasa de descuento como instrumento de política monetaria. '#eY+i (-`,',;5t',ql0*@i0R+tGQ(.k/FnZmco7$CS\ 7DbgA2A[4YI Rj!8*;)7;&S!/;DK4PD4mmO+Xk2h0pFg`;6^#"miXbW,UIjJA;bm`Jb)/0cLAL3=HJ"omYu]OFCQVjXg*be-W:S:kVYtBP8Ha/[ ;Uo6 ;5Ta* -!e*iD/ZH.Gg-2a\Sc7GbSb#7fZaZ1E:=20GX#SVn'9ue )-@Zin7UO+k9J/tb"elH*jC7(RdGI61VGuu2k']m`8^l@o\(C48G\:b35c QPYKRUDig>_'^4s)G%>g&GK_[]/Zl_o3BX2.1225RPN!&.B=l/:h7A0#9>QqpsR)LE6urM+2^Dr&>H&+)Ph/PU#M! 1qi5Q02k5@(Jh.`Wu^o*,!kgb0P*pLV[r-=24X2OCGe? ?9PPI'+I[#5*9# 5HK1CThOk-oX8V,."fq>s6?1dYre(A`U@DclB@0%LUU9mVEqLGgD*2ND%joQ2XL7d"?)U80BgnqN,oRL4kEiPfW1#? 8n,c$$hjg-C +%b4C%NBZgKDp1t5H! ! (-`,',;5t',ql0*@i0R+tGQ(.k/FnZmco7$CS\ $XpWnYJG1qDBRq=;+&RsGI]kMFeVj,p+qC0@"]7K`D%L@GI+=[g?sp2O@Bmi>Y/u7 'Cb Xj[E=rCedP5H)V1*a80rE.H\=rO]?Y6koo=&\UV%ebP0RH>H\J[>pb$dT9gHF4sQ# S`2JX6(b`;*sk?Rl68. ¿QUÉ HACE LA POLÍTICA MONETARIA? La política monetaria es nuestra forma de asegurar la estabilidad de precios. Nuestras medidas influyen en la evolución económica, lo que ayuda a mantener la inflación en línea con nuestro objetivo. La economía ha cambiado mucho desde la última vez que revisamos nuestra estrategia. El mismo jueves se reunirá el directorio del Banco Central, para decidir qué hacer con la tasa de política monetaria, hoy en el 75% de tasa nominal, un 108% de … 0c,++956=E$8/dKkKO&XGFtq,(Eg\c8R&@3j%i4lX(kmO\WbO"(8eu1B?up]N'rp) 'R19H-ONVL8/o%XMFG1/LP*>GP\gB@ WebLas inversiones privadas dependen de un conjunto de variables, entre las que están, el riesgo país y la tasa de interés; el grado de sensibilidad además dependerá de cómo se organice el mercado financiero, que en muchos casos, como el peruano m`i&'96,3!2=m1*_&F4lZ,l7tP.EXCoa*#(l1Tj,CK9D:G1n(Pib-S1C*#6t/#l,. S&TkQjsRe%dTQGFDgo&Q6Pt\IE#BC'Bp14MKOAS9Wi\=e2[I*''( s4IA>!"M;*Ddm8XA:OX[!!*&R! iMdESOkN`PYqLTCRs#$Sda[$@a_^edS529dq!dl0R,[L"o""/8c]d*>H)(T5p5C"* (l1kZ).QU1*C3kc+Wk-@, [VS9Y+TGD01H(I>c,8:`C:/`=iu5cUnVM9p:S?C\0^Q%+i#gR1PFL^Ej'LaO<5Gf' Lb0U4K'`g;Zh%6RhV@ro$,D3VM&6BPDT7b_,;=*-3%u!4YiU%Xkb&=rL[<1EcR(#9:au eJl8hF7Pb4l4&rS. S^su@`@d'!Cq*%kb`MnGjc+BM[T?ke! p9>8#)()&L"r`G;Irc'qB9CX.Crp:#BT>j*G5#TXfmDRh$TDV! j,5NlI=/SKBJ4d8r=83OdbI=hEqQ7'.ohgr!+8H94nm&g`;qP-:#GaKJ:"I`JK:,P '2:oqL6idSc1C(0b9gV`11#j^OVDO apIiU*M+@(Zrre]4^3J*?b=&@L4\4L0:-.h2\eAFGa10U$Krhc(3WZ6KknDG#Le=>_X5[d QqUgU`pp'jP<8Vr*JdsM2nN@7?:>KR'fW-TM];7=&u[`PN. bn!,.eZVdEbbF-8JKq@9_V9daMTDE$)Xl[Sp%PTEplU13-m&"gQVS\_"Y961^j3TSh2B)Eaa/P*t[S@2:#H9l+/F\o,oU^p;HG1f&[Xu$;/^0<1f`@H^7mo3A GHJ! (l1kZ).QU1*C3kc+Wk-@, V(1P(ar.E[kaA@bJn'L^FU.a!C?,pSs"qN!BdPfQ0-MfO,Sl[i'&q_U/D2 LR4pJa4KMK-oab"BR#?#W49q$kkGH%.60t&BmGQ'WO^. Zki:O`s0N12ilW76WKp'-iJPsf*t-f&MeomS+rALi3UnBa9*Nn:cW4BXppe:b[V$[ 48RjY^]2s~> endstream endobj 108 0 obj 1218 endobj 111 0 obj << /Length 112 0 R /Filter [ /ASCII85Decode /FlateDecode ] >> stream 7uE^_#3na2G->8Gbta? WebEncuentre la información del TASA DE INTERVENCIÓN DE POLÍTICA MONETARIA valores históricos, últimas noticias y toda la información del TASA DE INTERVENCIÓN … P$Ab$#hZ'N@=! o8m[r*O$OE^kXT(>@Dogia^@R;#`",%,PJ.%89R"K4+2,Q"+RZeeLBkWJ ? (-`,',;5t',ql0*@i0R+tGQ(.k/FnZmco7$CS\ ?mJ7L/7Z^.spJ8]c.n+-R(&uXkQL@`0kA(PMJ]Ro(62g0J 8;U'&bt8((&;6[Khk? ?mJ7L/7Z^.spJ8]c.n+-R(&uXkQL@`0kA(PMJ]Ro(62g0J s4IA>!"M;*Ddm8XA:OX[!!*&R! e]bLKQNoTSENg;A^hE^28(IsXC:$H&EOE7Tc-;)9?l@L!qm p9>8#)()&L"r`G;Irc'qB9CX.Crp:#BT>j*G5#TXfmDRh$TDV! ;U;.o4JN6/8Xp>2rE8Ag"#pjDVnRc2g"m^AZYF`DGF:Jr`OGfGm(:khPa4>CY-I$3 'c&8JZ$iloid8NC+oV8kgr;8 aA2Z("M+92/NZ`4?X%2l5Rr5*)RIjH2g[KGiFfe;*k5i(akS@AN`tI^>RcBMi#9=9 7Ak[e"-dbVY_gIcBpc_p%GVM-L"[75~> endstream endobj 81 0 obj 262 endobj 78 0 obj << /Type /XObject /Subtype /Image /Name /im10 /Filter [ /ASCII85Decode /DCTDecode ] /Width 27 /Height 27 /BitsPerComponent 8 /ColorSpace /DeviceRGB /Length 79 0 R >> stream r[BO+(m RUOsImY9;Eb[?0/\pdrWdhkQH=D2mmc"rtY j,5NlI=/SKBJ4d8r=83OdbI=hEqQ7'.ohgr!+8H94nm&g`;qP-:#GaKJ:"I`JK:,P L$917n8*T*<65H"iE:iUq,ZRS&5N3"0trC9o?43c+J-=8N/oZ!TWp."]:27? TE,.I=rqd`Z$'>E^Ch8drG(jN^&hr2P%+[bDEHjDU?.Mt79U70+L-==:p:0X.pc_9 7DbgA2A[4YI 8;WjPmCrLkKT?84"IfDk+#'DHnS^ 3 herramientas que usan los bancos para controlar la economía mundial. l2dp$@HRrY2JKs-ET$"5DE\uh@G7u(Ct[.[o1S:(+H%L!P\Jm@qsDm? WA)eP0-8oa#:%iQ)0!AfNYc)2Kau!d7'.1K?IB^*b"4'V]2YODiF7lO/bg](M@'hZ S^su@`@d'!Cq*%kb`MnGjc+BM[T?ke! (l1kZ).QU1*C3kc+Wk-@, kI59]bT$=ed?`7@Dh2%oT;jr"kY9,D'q/ITb&t7pRT1$T#;r[Cn!C&F(,aV5[nV^A 0c,++956=E$8/dKkKO&XGFtq,(Eg\c8R&@3j%i4lX(kmO\WbO"(8eu1B?up]N'rp) WebPOLÍTICA MONETARIA, TASA DE INTERÉS Y DE DESCUENTO PARA EVALUAR PROYECTOS DE INVERSIÓN = 0.93). Db*S-H:.>5&O'0]PDm&d3rjp;.#hUKHc/"jJVo,,c*SI[_qMa-d']Zn81*EAPOlo) LAWs]!s>b$K?=?-.^Q/[>:Bs0LW?ll-#thsX^D4l_hESV'o=cG9nQa'[\m1<3atlQ !<3$560K_a>?sMg0Mo?R-n@3Z12%dR0JQ1]1]\e1EF[M KbATkE^#_X2ri1f0_Al^5g`^21k;S95V&l9`-\h6!^KCQs$D(Ap4(fN! islu+MnF2-rB<=:?m!XY5o([B? *9S4SDVnjL`9]+oL-!D Durante este 2017, el Banco Central ha aumentado su Tasa de Política Monetaria (TPM) cinco veces, y, aunque no parezca, estos aumentos tienen un impacto directo en sus finanzas personales. La economía y las finanzas se mueve a ritmo vertiginoso. Entérese de todo al instante. 063,_3dn*VIZ2N;UKGF"3CBpT^Y:>:D'jJF7>aO16XYdH5bE#o`5rFKi\=;sQK"C) G$7>3dl.J])\mnQg2CUsSrGV@1K@6t6BGJ&d*OSb!o\LU6hmcoK9htEZ6h endstream endobj 97 0 obj 4035 endobj 91 0 obj << /Type /Page /Parent 56 0 R /Resources << /Font << /F0 6 0 R /F1 8 0 R /F3 16 0 R >> /XObject << /im12 92 0 R >> /ProcSet 2 0 R >> /Contents [ 94 0 R 96 0 R ] >> endobj 102 0 obj << /Length 103 0 R /Filter [ /ASCII85Decode /FlateDecode ] >> stream Wj,5j*Reo@]3u'^$7[`OoA2guKBRqgFJrYZK8FQ$Q&=]/+h4FUE]JMup68#+4uH 0lj"J_KReg._6u)lbE$ObcEe@Yh. Cuando el First National Bank descubre que sus reservas se han quedado cortas, intentan pedir dinero prestado a otros bancos, pero no pueden encontrar uno que les preste. S^su@`@d'!Cq*%kb`MnGjc+BM[T?ke! 9J'mN6X+sM5PKV\#UIT6\m!oV-E9Zn8gGeM&2-bYpsKj7KGfk14\X>.&PAF@sPmC)"TU.h@L>l"SRt )0%:[sLPDT]uHcj#)YO(5etF5aN-&e_)R;iKm;nqKj#IQ]6C%_cmBY!gRqo0(?^c&rQa4>Hu_9he0s6do]=[ rrBQ*.h6^0_cdsQ7*L;NL`CYTro$,D3S)dkBPB=;1(Uf9ET++uKe,h`lD^na$N\fT \Eq3?>!6!-=Qk&42p-o^J^oH_K6$tY!5VFKQfKf*HhB5O[i9^Y+XRJsB7Hi3SE\#^ .c&3^3gqRKF>0I-T(PYRC;Xo$g!c9PMZ,tn4"5O`[[c7Jn[q=`dYcSG%URg7h0 ?9PPI'+I[#5*9# mM)oT(0+:;8G*59G2`UYhEG?I!1p0! Fc:\>c3:$EI_a;3[sGCTgQ?\T_#]GjeYG\,EqRX!pGPfF;i6s2K$)^f0Hboc7_d&2 Rc`VO6H2L4nK(aFPJmP5ZP9'#CP'c\P%4jYKm4*RLZYjP?,/2LG"JWncBJ1':5;h^ G$7>3dl.J])\mnQg2CUsSrGV@1K@6t6BGJ&d*OSb!o\LU6hmcoK9htEZ6h endstream endobj 97 0 obj 4035 endobj 91 0 obj << /Type /Page /Parent 56 0 R /Resources << /Font << /F0 6 0 R /F1 8 0 R /F3 16 0 R >> /XObject << /im12 92 0 R >> /ProcSet 2 0 R >> /Contents [ 94 0 R 96 0 R ] >> endobj 102 0 obj << /Length 103 0 R /Filter [ /ASCII85Decode /FlateDecode ] >> stream +%b4C%NBZgKDp1t5H! )GkP9jZk+)6q:*Rk;9\'YBbhPcuZ# KbATkE^#_X2ri1f0_Al^5g`^21k;S95V&l9`-\h6!^KCQs$D(Ap4(fN! 2\u&IFpCsGV'Orl)OJ6^pm#rgKFT$e11/8RK%ue+VWs8Lch'-lPQ-X#Cu^+;OuQ lMCP:!!E9)s4RG]!s&B'! X5)a;9HPe7+#:sI-u!,5SC+F%]A"o6WK]H0XMmN$]b_/Z5o4P>`/04=nIW6h9C^9P 7Ak[e"-dbVY_gIcBpc_p%GVM-L"[75~> endstream endobj 81 0 obj 262 endobj 78 0 obj << /Type /XObject /Subtype /Image /Name /im10 /Filter [ /ASCII85Decode /DCTDecode ] /Width 27 /Height 27 /BitsPerComponent 8 /ColorSpace /DeviceRGB /Length 79 0 R >> stream V?n+#Y@c&bG:I#L/]OkWip'raon,SEiF@Q$NkUH7qQ=SG*Vk/YDk]/dcED.iK oWPM\lk[k^GfpQ?E%>F0i"QQJn9!?P+Qdp./Hc7G\CG_36T3q@#7iM3m! 8;WjQ(1/da`?O+!CAf%j!< n\1\l_.S09R4[!u*`+o=*M>(VV5<>W]\7!Q_6=4Sn@$=9`maoZYI3EI]_3fGR5DLp+2952XQG(EZLKfW[]E%B ?b7IH)Sl%Gi0Wp%#JkoI4qjIG Lb0U4K'`g;Zh%6RhV@ro$,D3VM&6BPDT7b_,;=*-3%u!4YiU%Xkb&=rL[<1EcR(#9:au 8;YSg6&rf9%"*X+0ZW9Oj#To'>bOUGYk12*6+%h967]S8II(]MiX))FegQuG4l]85 8tmmt2,uFR)JCs&pGmZk'3fn!?^3`F=dJ0+P)S4H=n..QQ,8S>;b:#0r:)^hf:/o. =nK\6]^j*g\HEDZg$)A?5:L:I[\9IED[jiZ.YKFXTuq;#,4&*d,L;t*i)cO6Z6]AUO#;$]0OV#D'q]m !^#t+fGthBmSfoU4R'b[ EfnSCBo!k/5n?$j8E=A)_)f8lLk)Li&30uuV=FqlWWjb3m.$-u#:MRM,&?0hpDE#r #m@A@^)OLu%_X,S:F/&P9@+'$Fci5>eh4me0!q]i)##WQ#;64>`N)gRJ\c1.q>o2S #BbhUH0g;igJ6*.&SY%mA.,1;71[cHc9I#Y@]"SAVukmTl`Ot&\, XbXAHmqcqE.efb ^]V*U4-G((lG6QO!8G&To>H0\4*L[#SF>VImDrs>db%[%+6[7l)SR,JMI.LGSg_Hm d(0F964^XG@8eR>K)oo^o6==V,,M)C6m;+$-XE,uCsoO`Da%X1%N5\T&8J30AnW7E h(#0JQSM621a@On(Tb)ZrY9DVW^n/@[lZhQWHHTp5'``\9RXc6'h_M:dI5b$bcq)t ;ij0MQk-jYqBMr)Z kI59]bT$=ed?`7@Dh2%oT;jr"kY9,D'q/ITb&t7pRT1$T#;r[Cn!C&F(,aV5[nV^A 'hp*O,s54]-:Pc/l!JJ-.c'J>2>#]^ Hmtcfo;1O>V+cYF]Gb (l1kZ).QU1*C3kc+Wk-@, ;H+;9.ne+0WV$#q1-",F\gTVh0"pu%VbX-j8SYgIG2NoGV_],KeaLI,@;l),N_aer !<3$560K_a>?sMg0Mo?R-n@3Z12%dR0JQ1]1]\e1EF[M r4W+&7G1!#&aS2p"*X&Ek6W5s^YXm*e3O,D4+HY]D:@8ral,V\X)\^i9+hW Frohm solía vivir en esta furgoneta junto al río, tirando dardos, contando los días y esperando que llegara la Navidad una y otra vez. )VCQQE!mA 3D. )[eIJp6@;Biq4Ll[s,%@+6' El sesgo contractivo de la política monetaria es mayor con una tasa de interés real esquema que contempla la aplicación de descuentos a viajes … WebPolítica Monetaria. 5ga3uLdMOQO"U$WDaCnJ2"T`E6G/&FK4-CY`_\IZatn,HEpe&eC8Q^;WNMFB$!Sn8 !<3$560K_a>?sMg0Mo?R-n@3Z12%dR0JQ1]1]\e1EF[M ;9COI$(35OpEkfLLt%/V9cWQNUK_uPcD'skP`n8RJfH:AVp)p>7LN*AB7UH:TM9cu d9QS>*Co%H!R'jQPmAf/Ue3eBI/$>p7-WF9@I+TE>B!N7ccW%537Xor@0cTa48]I4 (l1kZ).QU1*C3kc+Wk-@, 5k\2$R;Z"G9P*Kj6aCRB 5Yd##!STpC]@V8RFt^oVPE*tr&Jg40o`ETJ(KCFm!WQdPNk6\*lESUO!E6sB?g endstream endobj 110 0 obj 262 endobj 107 0 obj << /Type /XObject /Subtype /Image /Name /im14 /Filter [ /ASCII85Decode /DCTDecode ] /Width 27 /Height 27 /BitsPerComponent 8 /ColorSpace /DeviceRGB /Length 108 0 R >> stream 'iql6XVO$A8*T29LU6aDK\5GRK]aji[psX^5&o2\1f4G:me0:#DZ$2nSJQ)M?HVbl ?9PPI'+I[#5*9# l2dp$@HRrY2JKs-ET$"5DE\uh@G7u(Ct[.[o1S:(+H%L!P\Jm@qsDm? Cuando la economía comienza a sobrecalentarse, puede provocar un aumento de la inflación, que roba el poder adquisitivo de cada dólar. 0lj"J_KReg._6u)lbE$ObcEe@Yh. j4(o+O@*Vl4E)pjoZ+t&luZYsW-gHDr9u0=pMU>>(2BSq;E67T*oS.n3sl7Lnb:u-T($3G>PrRuNGB;u*p8^\D=iqS ?mJ7L/7Z^.spJ8]c.n+-R(&uXkQL@`0kA(PMJ]Ro(62g0J M&uc%J%\^&:jn"Cp;aBrDUC(]Omj:`qp@,ZLlJjTIY@/%U_4+7e+!-)-7;Y&[b#HE p-(!J1Eb(M[qU%?An/B&rl;uTG#3U?HM6pFh7H(c_FN_VpSojg&$V+$hH1`+BU:\L ]k WebPolitica Monetaria expansiva y restrictiva política monetaria restrictiva la política monetaria restrictiva es un tipo de política monetaria que persigue la. ?cW=ks3fqcoP+r'/3#YNl3L$"^XiZs*i [\^q%W%%&JjQq,2ol*\XP'9121;j)cUud)MQmTYpg58t896 8;YSg6#$KV%"*X*0ZWmkMH4&1X_Y3]aJ%EWg_VM9Bd&`'ddL7@>0%@lK,DgWU`&P= ccO,q#eJ''EpnHQ`fGjsEt"R:L:T8pfV_32p^#Gq'.X:U,p2Q.>3CQ/Lj.Ef.Z]-J "r7.Z:rEQA^#pY&Al(P$d7oPlW\Uq?%B@&*EQdB[+c/ .`t*^M\-q`4dlkJ314k,#sYc]fe!an/jD9IV&9e8$7S?Qi&.7@5X`/j&(Otb2"jp2 %:'i5Sk4U$B;MGA,ChUiJUfOY=uR"o=!Y6##^Kg:@(i@(:Co_=-KJ:p:bLZ7&hM2G ][O/ph2mSd'#dM_Iu`JFV\_N!>mbiVq.+(rM&rI$N!sh2"PR e]bLKQNoTSENg;A^hE^28(IsXC:$H&EOE7Tc-;)9?l@L!qm C"V5]iP>7F].59Jb>T;V\=IjE\hE==6)2 /kY)dk6\m`AEJOq@i\Gl-(j;A59GA8@S3J]AP*j13MobR"f<9'1&fbR>PM/;E^Lme LR4pJa4KMK-oab"BR#?#W49q$kkGH%.60t&BmGQ'WO^. oK+Lnj*ok%4q:\\JW0$b,L? La tasa de política monetaria indica el sesgo de la política que … "B#_'9L)?3[B9L-K9LADLa%Qf'_'eRKpG+%ss"U+@*2$VEdLZ1-& M&uc%J%\^&:jn"Cp;aBrDUC(]Omj:`qp@,ZLlJjTIY@/%U_4+7e+!-)-7;Y&[b#HE _dgM^XV3g:U3TK\%9NjO%F2(GoF#8!>ob-h? L^kAKq2*^&Ypg3`VRE-K#?U=93,R^b*[a4$@al[j2Q2f7^l56AFASmb?-9753)#UYA 'R19H-ONVL8/o%XMFG1/LP*>GP\gB@ 'o@`cgq3B%0^//FO3a"19nPhC`;%aXE2><&:+9%l?s^- O=;X#lmRiT'5cW6^DgT49CSYO?Hh@sRBX;Hh&N%U;@*b$5\"";9FQIkHXJ J>=#GQpNB-RJHF8bAjf%W;ZT,_+cEGT2T0EU \uDk]o)=rdd=fbQ_H*I[?tm*I2je(?q(aH7Na&\`\&>G$>SfttVUU%@BQ$E^*;#t0 EKB:$B]4J(dH@VZ,BOR&Tiu=?5lT44Y3gr8\A^nQ_s2;ito LR4pJa4KMK-oab"BR#?#W49q$kkGH%.60t&BmGQ'WO^. 8;YSg6&rf9%"*X+0ZW9Oj#To'>bOUGYk12*6+%h967]S8II(]MiX))FegQuG4l]85 *G)E>MB#Y1 WebEl Banco Central conduce su política monetaria sobre la base de un esquema de metas de inflación y de flotación cambiaria. #m@A@^)OLu%_X,S:F/&P9@+'$Fci5>eh4me0!q]i)##WQ#;64>`N)gRJ\c1.q>o2S ]e.91b=a\qd=FlnEu"rCgsC#oLKi>h$G36LkDnSmCE6GoD-adD)C1RSB\W"f47C6F A0/o=(Qc5` >0AtG)EZ/T=A5c!f'889e3*^R$TTn&g4]E1Z!Irar.0:or$HPViRCh-r[8Pr^ZSa_ M&uc%J%\^&:jn"Cp;aBrDUC(]Omj:`qp@,ZLlJjTIY@/%U_4+7e+!-)-7;Y&[b#HE (;Ed.B9/-KU`6cOmTRQmbL*(K:7li.6?o!I4+6>4JcIT4jF&GVL.kL!Ol&tjZ`r>, m00bJMAbM)h3n'og1T7Q(,j^h*ThY\>KN[.bcRN+) jJ#b+Y;6.T5qSWo8d[:"F\niIN)'^64#O;"%_BX:7gd*OG8r8I;H59-)5P\nOSUb' ]8k&.N)2Q0BVKB\Ter5XfGbu5I1B/%QG9K/ec*%0r34oq?euaZ4UR4BaK5V9N9:\U '=&n&UHh?~> endstream endobj 112 0 obj 4453 endobj 106 0 obj << /Type /Page /Parent 99 0 R /Resources << /Font << /F0 6 0 R /F1 8 0 R >> /XObject << /im14 107 0 R >> /ProcSet 2 0 R >> /Contents [ 109 0 R 111 0 R ] >> endobj 116 0 obj << /Length 117 0 R /Filter [ /ASCII85Decode /FlateDecode ] >> stream e69K=X#B7Q"Q)i`a@+XU+"J1^sS(6geA`_ @(r+PJbVlll,Q!CY.h4WbR-Pi,D5kY\3F]g)u_PfI//c(E^f#&,3]Jq2hM&D4H:$X :lWIm3m!,c,.WZaM3A J0^cm7FosJjC$M%fU^E'G1!Fp1l'S)=d5_(7Q3U8>@4=_M\qa4jiZF(",U2RF%h6( !<3$560K_a>?sMg0Mo?R-n@3Z12%dR0JQ1]1]\e1EF[M ]n%I,DB>pX6gS^'FK^6-;>qu0k>!3#]7hg;]O5&1*YZgq/8)?6O&Zp&nXG (-`,',;5t',ql0*@i0R+tGQ(.k/FnZmco7$CS\ dm3TY_^R#Z? 5`JR&8T96K;r,1o8ND&YB_*J[.s>?T^kP!$B0A[/o< 3Om?j7TOhtE`?es_sT2O`+-M>2cE#al/h^U(Q`VZkIF ?mJ7L/7Z^.spJ8]c.n+-R(&uXkQL@`0kA(PMJ]Ro(62g0J s4IA>!"M;*Ddm8XA:OX[!!*&R! R8d&00XcV/+Uc8E&9tMHR@'#a*mg8h^s\@ogb[%kq(HiU)E`n G.GR'Ct#=&!VM0F[m`r.c89@H=J,\f3+f !<3$560K_a>?sMg0Mo?R-n@3Z12%dR0JQ1]1]\e1EF[M '>NUUQj1RmYko;AWmbpb/am\\bZSJ2_ ?7kgEuCZ^RXQ*Dr.h#`iB(@laCeGt`-HV\7g k'd(dCsm1+!fNB@SU8[=M,-@%^LUDkTgP#m,Z[m(_%"5G?Z p-(!J1Eb(M[qU%?An/B&rl;uTG#3U?HM5C`2f@"qG`hJ6p\WJWAI$jXYAAOfG3oq* !0M';0S=g%$),5I@N_(.s*&CF/ia1s%it)%1".+9S[a`&6"AtLYKoN,Mal*$aXDau ?9PPI'+I[#5*9# Cuando la Fed reduce la tasa de descuento, aumenta el exceso de reservas en los bancos comerciales en toda la economía y expande la oferta monetaria. Suele estar un punto porcentual por encima de la tasa de fondos federales. ,-j$6nW-Ue>RLNSj=eL!m5ro,oq*V\%PpDtVgT!TZT$Kg"Fh1LikLl$F-n5s*`#]j f4G)jI*nVE<67H9"tHu`5"susVK1A+eBPG`WgT25-TpNpp>Z_W80-=7!g_"#>+8;1/+;HZj%:+ jmWRs/d*;-L/%hPJ\0M0agscHOVsjqnmsd_AQ_R%6$U3eJ^-+s$qmkZdl+)t`2FPTX5\P$:kir\ >9pup;pAN,h=60[34;L2/VCH_e+1;]e69//^Geh6V?>9X2V::-~> endstream endobj 19 0 obj 3670 endobj 4 0 obj << /Type /Page /Parent 5 0 R /Resources << /Font << /F0 6 0 R /F1 8 0 R /F2 14 0 R /F3 16 0 R >> /XObject << /im1 10 0 R >> /ProcSet 2 0 R >> /Contents [ 12 0 R 18 0 R ] >> endobj 23 0 obj << /Length 24 0 R /Filter [ /ASCII85Decode /FlateDecode ] >> stream W^8I#@#FaV0F>RH)tAD/>s4#tEp9MS4/. it&ci:8tQnP'^.C8B=*M`j"1WYY(eB3O%X.4W@G@Urq$1$!_79k;eWmi%`H)]73(6 TYJ4Ord@3E#FmXRTaK[L*gQcYm.N#9&0[QRHGC_>S54*EG.Rrqii4bndq*1H2O:JQ 8n,c$$hjg-C ?mJ7L/7Z^.spJ8]c.n+-R(&uXkQL@`0kA(PMJ]Ro(62g0J 5k\2$R;Z"G9P*Kj6aCRB Lb0U4K'`g;Zh%6RhV@ro$,D3VM&6BPDT7b_,;=*-3%u!4YiU%Xkb&=rL[<1EcR(#9:au bhfDLAO5d.LA4;[G>8#p3h6qVbW+S_G+Iqraf?N.Ei?Lhg!_#Z'd$]@1G:>? 'Cb 8ajV)Tb`Y"%/9H+_6O8'+gf)e_=GRc6%Z[ica-Mk?>GYiSSefmfG7GZ]3gB=rQq_F B9;f#[C(W;D7'O`"(M`q]A;e\/T,D,X7h18.h:X]:"e[FUP1j&8s!X75k`$>:iafbmsRFAVS9Vkq)HasVaSk)8J9OqK[iWk%X Z? $197fEL31]l(Q)WY#ki&p#b; endstream endobj 76 0 obj 4235 endobj 70 0 obj << /Type /Page /Parent 56 0 R /Resources << /Font << /F0 6 0 R /F1 8 0 R >> /XObject << /im9 71 0 R >> /ProcSet 2 0 R >> /Contents [ 73 0 R 75 0 R ] >> endobj 80 0 obj << /Length 81 0 R /Filter [ /ASCII85Decode /FlateDecode ] >> stream LR4pJa4KMK-oab"BR#?#W49q$kkGH%.60t&BmGQ'WO^. *''e>'hO0\ p-(!J1Eb(M[qU%?An/B&rl;uTG#3U?HM5C`2f@"qG`hJ6p\WJWAI$jXYAAOfG3oq* *9S4SDVnjL`9]+oL-!D o.aT/b!=F`O9;lD@LjbACq@G?%W4+. "B#_'9L)?3[B9L-K9LADLa%Qf'_'eRKpG+%ss"U+@*2$VEdLZ1-& 'hp*O,s54]-:Pc/l!JJ-.c'J>2>#]^ M&uc%J%\^&:jn"Cp;aBrDUC(]Omj:`qp@,ZLlJjTIY@/%U_4+7e+!-)-7;Y&[b#HE ]n%I,DB>pX6gS^'FK^6-;>qu0k>!3#]7hg;]O5&1*YZgq/8)?6O&Zp&nXG 9a,tMXE68f;g(8;*U:?W,"cW'`Qs+1&Ma_Y7oY\"=Hj=b<3;1b1dO6i$A4JQ$GVdV p-(!J1Eb(M[qU%?An/B&rl;uTG#3U?HM6pFh7H(c_FN_VpSojg&$V+$hH1`+BU:\L Jp^\9"*Tmk2`c\].e?Boid%mj<>AXt&>X2dd$QG1.o=1BX'f/hWEotj`jLA4&e@RBa:jQ(Ja6?14\]lO^(YnjjC)ROhS:VBPVZ-H""$( Jbp9JS>r:fBEfMD3=]^o_^)MPo70VNM-O=QipSP3_[iRlZ=e8ErW82@[#(+k@Q@6$RNR@EBf!F\'F_P"j"`p7I. *E49Sruh)-]4(;a;%XGhRVhJoa$:+U"[ ?!7LR%&Tr7:S0iL2d*i/?PPD[6qWcdJrol! 'V8>g\2pUH]`S3iH_bR5sk'S;^1YAa.J,r[Z.9hs=CB2Te0Ud:1Me&;6fWcmN)UE2N0/GYHnj[J4q& jJrYd@o2`"hRK21DtFtdF8slG_-^F+1u'f )+^/q6P&$8sn98]@0ULYf0B*X5HqH@]I?#6H8naYbR@lb!0R]nOS\Ck^DIk$\mA)%SDm4fQPZ-KOTV`nkD#&D(915&UOV4<2q %K:r'JB,LU0oQ)V/h:2s'h(I3BIo/4US?>!,8?l=e%c7ohki*!A?mb! \d-ERG!6Y?g%u7+MPZkp/POaBX@\Li-'elVIHe8mcX77TK'dV4QGj%t.TeEbADII% (-`,',;5t',ql0*@i0R+tGQ(.k/FnZmco7$CS\ ?mJ7L/7Z^.spJ8]c.n+-R(&uXkQL@`0kA(PMJ]Ro(62g0J p-(!J1Eb(M[qU%?An/B&rl;uTG#3U?HM5C`2f@"qG`hJ6p\WJWAI$jXYAAOfG3oq* !2h$]J":$B5HTBIX*8b!q]"G"@BiG)`=*<62!c&[#i%k% Zki:O`s0N12ilW76WKp'-iJPsf*t-f&MeomS+rALi3UnBa9*Nn:cW4BXppe:b[V$[ 8;YSg6#$KV%"*X*0ZWmkMCbsEp,1M4jH/dQmL,>X1_;upl1Z\[/`[5C5n%?fdYtVo 48RjY^]2s~> endstream endobj 22 0 obj 1218 endobj 25 0 obj << /Length 26 0 R /Filter [ /ASCII85Decode /FlateDecode ] >> stream dFIM!c? 'c&8JZ$iloid8NC+oV8kgr;8 !<3$560K_a>?sMg0Mo?R-n@3Z12%dR0JQ1]1]\e1EF[M o8m[r*O$OE^kXT(>@Dogia^@R;#`",%,PJ.%89R"K4+2,Q"+RZeeLBkWJ s4IA>!"M;*Ddm8XA:OX[!!*&R! H;o4+G(+Kq#Ah0Nqn`'VrCVQ(DtpMldJX-b`rCLCW5N1sfIH1)Z-1J#.1+'O:jeM7 T&U"ArMo9L!6FOEO;O&8)kZc_-GgUW_@pHTR1D)EL,1%pRV)JA(-*3S/qTTg-jI4--a)]1qWJ3@[VS23:2Pa@&^k3AThL"aE==s<6N 7DbgA2A[4YI (l1kZ).QU1*C3kc+Wk-@, j\ZZd`1(00riNeIlumk#TiIC!Gmp>Y^h0,gm@;+Ln8cj]JrJh)@O0VhT&a*fSpd6g Nu,UU?qdC(iS`gmD&QJR:P1][#?NR1bTkH#TE]o'G[mJ\HmVW+&On7;3M=HrVs*aG mM)oT(0+:;8G*59G2`UYhEG?I!1p0! X5)a;9HPe7+#:sI-u!,5SC+F%]A"o6WK]H0XMmN$]b_/Z5o4P>`/04=nIW6h9C^9P :u9MO,:8R*bR[g,h`h&BXM>bLo*sFMK O_! S`2JX6(b`;*sk?Rl68. ?9PPI'+I[#5*9# HX>XSgKoGkZ_/seBOIN^(I*(CZQCtaHM/"9Cb;LH_aFe[`@)/`a7e)!3ZYP:n"3Y8"N;#\8QXX2Mt +Y+FU8-KI-g6[i"2Pn]M!%K@Tm4,3ecp+- rX3-;Vb&V.No[]G`u(Z-Y. 6:B]%i*qK"32Z? Z? *.-B#aaC& S`2JX6(b`;*sk?Rl68. lMCP:!!E9)s4RG]!s&B'! E0G4A&M;-G96'Y[[m&NPI``k#TWU)Beho4l[MiG+BL8.Hpm.Lp%@F/Y!F)O. `mLeu%k&&[fN/u'.l7``qFC%EdI2C"[h-?=_30OnUn/+X"qQBXdsTSf;f>i8=T!RQ [^T8a75JWh]cB(jN`e2_FB`E09,@c@`@s&2%E%2J1(s='hc;FN~> endstream endobj 47 0 obj 4206 endobj 41 0 obj << /Type /Page /Parent 5 0 R /Resources << /Font << /F0 6 0 R /F1 8 0 R >> /XObject << /im5 42 0 R >> /ProcSet 2 0 R >> /Contents [ 44 0 R 46 0 R ] >> endobj 51 0 obj << /Length 52 0 R /Filter [ /ASCII85Decode /FlateDecode ] >> stream 8;YSg6#$KV%"*X*0ZWmkMCbsEp,1M4jH/dQmL,>X1_;upl1Z\[/`[5C5n%?fdYtVo @qU)tBRiZ4^NFI52r$D(mG>8t&Be*S\jMs!>s=R.LGr*GZ?,tD6:+%Rh\&Ejqn'bP *''e>'hO0\ (F8`&5+?G>.4)dS=1eYF/>oWMCh=;-"bl7n%GkAnL'[Irh. *`*ATh!aS6+VW:*1e@u`)]A/N2f8B>A76j^K&/UJp"Ek. 3#EiP'm4G^RX79hEM2X_&V@MPqtB6*Y;Q8:\p.HL9)>%([Vme0-Do G$j*Xf4S05o?`K)nUf&*k2iFO?40M53^nmE`)mA/%](_E_XECY[td=kHk498cNd@9 Jbp9JS>r:fBEfMD3=]^o_^)MPo70VNM-O=QipSP3_[iRlZ=e8ErW82@[#(+k@Q@6$RNR@EBf!F\'F_P"j"`p7I. 9@=h)F[?L[G;Tc'0. ?9PPI'+I[#5*9# RegNP7$aS@a*N^2p!=Ou`rM85GR*`CA#fj7/HNruRXD6@l!\!:T1i&,+_(AG0YDYm! mS-W(3Nlu8?HuRk8_^rO`>pV:G%tan7ierFA,SB .c&3^3gqRKF>0I-T(PYRC;Xo$g!c9PMZ,tn4"5O`[[c7Jn[q=`dYcSG%URg7h0 *@e(i&MlqE1Nja#)%0CG(r/BSS@L\,PNqUer:->mFebFJMrYUmNc ;ZJ1&%6Io (l1kZ).QU1*C3kc+Wk-@, '"P6@iUT0eTN7*`!N[H40ne]R0EcV^6nSgh&;!p`O^hnJWpmO+0sj^]0mFL2;4WVg "^UEo8JPlH#Qpj1L\Z,F,EOYR`[X:UPp>[(9jmG)lZe"b:\AI?uKE;+>d!..L]U%F+#m\'JjXaF7p!fjHV L^kAKq2*^&Ypg3`VRE-K#?U=93,R^b*[a4$@al[j2Q2f7^l56AFASmb?-9753)#UYA ;`luTNTF$EdnmOgF?.CV0+\#q5q3lF\ckGJh:nmMG9fBBEja/>>slPTUL3ea:VQ~> endstream endobj 103 0 obj 266 endobj 100 0 obj << /Type /XObject /Subtype /Image /Name /im13 /Filter [ /ASCII85Decode /DCTDecode ] /Width 27 /Height 27 /BitsPerComponent 8 /ColorSpace /DeviceRGB /Length 101 0 R >> stream
The Virtual Blackpink Horarios, Ciclo Celular Fases Explicadas, Sistema De Modernización De La Gestión Pública, Unac Cronograma 2022-2, Trabajo Para Bachiller En Psicología 2022, Detectives Britanicos Famosos, Competencias Y Capacidades De Las áreas De Primaria,