Post by account_disabled on Mar 16, 2024 15:59:53 GMT 5.75
The governor of the Bank of Spain, Pablo Hernández de Cos , indicated this Tuesday that the rental price control of the Housing Law, which will be voted on this Thursday by the Plenary Session of the Congress of Deputies, "may end up causing the opposite effect to that of that is intended".
Hernández de Cos responded in this way in the discussion following the informative breakfast that he offered in Logroño. Asked about the rule approved by the Government, after the agreement with Bildu and ERC , and which provides for the control of rental prices, he recalled that his institution's annual report has already made an assessment of this bill
. control of prices, has indicated that "in the short term it can Phone Lead generate a reduction effect", but has added that "the empirical evidence we have is that it could generate the opposite effect in the rest of the markets in which does not apply".
"With a medium and long-term vision, which I believe is the one that must be had in the housing market, it can have negative effects on supply and therefore end up causing the opposite effect to that intended," he concluded.
Climate change The governor of the Bank of Spain has also been asked about the situation of climate change, since a study by the European Central Bank has become known which indicated that Spain has lost 5.4% of its Gross Domestic Product since 1980. due to extreme weather situations.
In his response, he recalled that the Bank of Spain has been devoting a lot of analysis to this issue for some time now. In fact, he has assured that the bank is concerned because it will be a "fundamental determinant" of the countries' economic growth, but also from "a financial stability perspective."
Given this, he highlighted that the Bank of Spain has even already developed some climate stress tests for entities and specific issues have also been analyzed. With this, he pointed out that "Spain, indeed, in some dimensions of climate change could be more affected.
Next, he highlighted that the fight against climate change has to be global , since the effectiveness of exclusively national, uncoordinated policies will be "very reduced" and, therefore, he opted for a European vision coordinated between countries. . Thus, he assured that Spain, "to a certain extent", is leading these debates in Europe to some extent, something that he considers "very positive.
Hernández de Cos responded in this way in the discussion following the informative breakfast that he offered in Logroño. Asked about the rule approved by the Government, after the agreement with Bildu and ERC , and which provides for the control of rental prices, he recalled that his institution's annual report has already made an assessment of this bill
. control of prices, has indicated that "in the short term it can Phone Lead generate a reduction effect", but has added that "the empirical evidence we have is that it could generate the opposite effect in the rest of the markets in which does not apply".
"With a medium and long-term vision, which I believe is the one that must be had in the housing market, it can have negative effects on supply and therefore end up causing the opposite effect to that intended," he concluded.
Climate change The governor of the Bank of Spain has also been asked about the situation of climate change, since a study by the European Central Bank has become known which indicated that Spain has lost 5.4% of its Gross Domestic Product since 1980. due to extreme weather situations.
In his response, he recalled that the Bank of Spain has been devoting a lot of analysis to this issue for some time now. In fact, he has assured that the bank is concerned because it will be a "fundamental determinant" of the countries' economic growth, but also from "a financial stability perspective."
Given this, he highlighted that the Bank of Spain has even already developed some climate stress tests for entities and specific issues have also been analyzed. With this, he pointed out that "Spain, indeed, in some dimensions of climate change could be more affected.
Next, he highlighted that the fight against climate change has to be global , since the effectiveness of exclusively national, uncoordinated policies will be "very reduced" and, therefore, he opted for a European vision coordinated between countries. . Thus, he assured that Spain, "to a certain extent", is leading these debates in Europe to some extent, something that he considers "very positive.