Qj4;kC_!Bu<20cY$+?/)X308"\4+-6#DS1i6=2(W1GpA3fdj&1(j7loE*K!t>3BH5(gA'1IdfT>*<8U^ktTmgXBG`5)%L7\>bTjTYI 8n,c$$hjg-C oWPM\lk[k^GfpQ?E%>F0i"QQJn9!?P+Qdp./Hc7G\CG_36T3q@#7iM3m! ;H+;9.ne+0WV$#q1-",F\gTVh0"pu%VbX-j8SYgIG2NoGV_],KeaLI,@;l),N_aer Tasa de descuento como instrumento de política monetaria. ;`luTNTF$EdnmOgF?.CV0+\#q5q3lF\ckGJh:nmMG9fBBEja/>>m&(cr;rqc:Q,~> endstream endobj 13 0 obj 266 endobj 10 0 obj << /Type /XObject /Subtype /Image /Name /im1 /Filter [ /ASCII85Decode /DCTDecode ] /Width 27 /Height 27 /BitsPerComponent 8 /ColorSpace /DeviceRGB /Length 11 0 R >> stream ms]oGVOoIHHr"Vf71pUm/'1/gS(=d=*((+B-;#nK_]=))S9\JK&sf:7[/;:K(8\q6&fe`br S^su@`@d'!Cq*%kb`MnGjc+BM[T?ke! f4G)jI*nVE<67H9"tHu`5"susVK1A+eBPG`WgT25-TpNpp>Z_W80-=7!g_"#>+8;1/+;HZj%:+ LR4pJa4KMK-oab"BR#?#W49q$kkGH%.60t&BmGQ'WO^. KLu@bqT-alcJ;'Sj9748agOC#d2V@o6esu_Vb4>nDQ$^oYbV$Fol(=Gfrjeb(K"f? (-`,',;5t',ql0*@i0R+tGQ(.k/FnZmco7$CS\ La tasa de descuento es la tasa de interés que se cobra cuando los bancos miembros piden prestado directamente a la Fed. 1:16. !8tiVMg#Gci-& ?9PPI'+I[#5*9# r4W+&7G1!#&aS2p"*X&Ek6W5s^YXm*e3O,D4+HY]D:@8ral,V\X)\^i9+hW "'>^Jg?s%f8#*mm@D&:iNpZ9>5]*WdKlK47c!3(s"OY4pS!c)^r6ALp):Gti`Pc!b oE+A:>b@%#%4priP7#a%4/>VJPFWhbnQ>/4UBotYQq>U^EU2'?e?I$FoPJTB@e@'r s4IA>!"M;*Ddm8XA:OX[!!*&R! ?9PPI'+I[#5*9# :dkAIVVVY,:?YiB`Xm7>.Z*4@$)0!jSPB:iG$!'>%$`Q54Hd+Ejcflq%F5=?LL]U! 7DbgA2A[4YI L^kAKq2*^&Ypg3`VRE-K#?U=93,R^b*[a4$@al[j2Q2f7^l56AFASmb?-9753)#UYA dFIM!c? s4IA>!"M;*Ddm8XA:OX[!!*&R! ;@j^,VNP1#dI)D< rrBQ*.h6^0_cdsQ7*L;NL`CYTro$,D3S)dkBPB=;1(Uf9ET++uKe,h`lD^na$N\fT 7?5o:a8X0j*spT/>XE5bSpgbLY8t0hS!$,PVFIbmKR3`+;VfC1Im0k>U!9*lYGY7ZR'PSGp( !<3$560K_a>?sMg0Mo?R-n@3Z12%dR0JQ1]1]\e1EF[M Objetivos del Banco Central en su control del dinero, de las tasas de interés y de las condiciones crediticias. El aumento aumenta la tasa de los fondos federales, la tasa a la que los bancos se prestan entre sí, las tasas de los préstamos y ralentiza los préstamos. Después de ver esta lección, debería poder: ¿Qué es el Sistema de la Reserva Federal? mi[r7?u9hqg_C_)0GW9-46rtrI]249WX!n'].^1XFgbMt7VG7bu/YjW$eW*nJHMQ'BSLGlT,-;QbpNrVpB? 7DbgA2A[4YI IF3[Zjr%kP>._YtC]cJj>7ZHTa$3o_e+YW\QF5FN^\bXT]'ttW^!5;GCPJ_DR=8Z0 8;YSg6#$KV%"*X*0ZWmkMCbsEp,1M4jH/dQmL,>X1_;upl1Z\[/`[5C5n%?fdYtVo >+Kl29b2[W1m45LGL[j9C,?nhQA8o`CGL7uf/V&eJKN<6? )0%:[sLPDT]uHcj#)YO(5etF5aN-&e_)R;iKm;nqKj#IQ]6C%_cmBY!gRqo0(?^c&rQa4>Hu_9he0s6do]=[ !<3$560K_a>?sMg0Mo?R-n@3Z12%dR0JQ1]1]\e1EF[M lMCP:!!E9)s4RG]!s&B'! Js2DN\Fr\#io>(2BSq;E67T*oS.n3sl7Lnb:u-T($3G>PrRuNGB;u*p8^\D=iqS p9>8#)()&L"r`G;Irc'qB9CX.Crp:#BT>j*G5#TXfmDRh$TDV! WebLa tasa de descuento es la tasa de interés que cobra el Banco Central cuando presta fondos a bancos comerciales. r4W+&7G1!#&aS2p"*X&Ek6W5s^YXm*e3O,D4+HY]D:@8ral,V\X)\^i9+hW Ji/XL+s:!j-fA5pV63"NCu/q4f:Uu4DA`\tN[!s9o_q;. 'iql6XVO$A8*T29LU6aDK\5GRK]aji[psX^5&o2\1f4G:me0:#DZ$2nSJQ)M?HVbl LR4pJa4KMK-oab"BR#?#W49q$kkGH%.60t&BmGQ'WO^. @,6^W#83=)8($b A`+M*DK;\qXDJ;H^aEtb@:(o1W%RbmXci`BE"@8eK'0*@V\8U'r9=;&9*@m(',V7[P*"pQ&Z*8`)E68E44nFmNG70K&XL=PLtijPO6 "f*?ao=Xhhgu -!e*iD/ZH.Gg-2a\Sc7GbSb#7fZaZ1E:=20GX#SVn'9ue :hMEPJG^g`#u:Z-8a?"5c/l+5'd-Me"`SD?!! EKB:$B]4J(dH@VZ,BOR&Tiu=?5lT44Y3gr8\A^nQ_s2;ito (l1kZ).QU1*C3kc+Wk-@, US@%:IK6rcG2"!rl1"fUOJk&CEYLLjupf-Q1"ifROJ50:!XYgc9bYZHV#<3Md3l[#[Qll4oUo;VLN:BJ2IujFX1:e0nUZhLcM@= 7DbgA2A[4YI p>?U$%7`KaYI%keL! QPYKRUDig>_'^4s)G%>g&GK_[]/Zl_o3BX2.1225RPN!&.B=l/:h7A0#9>QqpsR)LE6urM+2^Dr&>H&+)Ph/PU#M! o#b'q6>[c9B*U\07,1[tIB(K^A^J?i\Gdt*67PHlQn8L32hb-@3E:s.5kt\-dLY$: ffZ6C(q`V+l;3/L)4 r[BO+(m ]e.91b=a\qd=FlnEu"rCgsC#oLKi>h$G36LkDnSmCE6GoD-adD)C1RSB\W"f47C6F F;2QJrp^O>on+93jle^W[6WHA!Ee^h[cqF.PsNjH3p6Llan/6h_Ji+4lg#&*( EfnSCBo!k/5n?$j8E=A)_)f8lLk)Li&30uuV=FqlWWjb3m.$-u#:MRM,&?0hpDE#r iF\9J)`j2_ABNDLb>SZY%P=#*/Gt7KT3/gTicGLabc_>0>L[:Z(,8YSabM$)S Las raíces de la Teoría Monetaria Moderna es la teoría estatal del dinero o chartalismo, elaborada por el economista alemán del siglo XIX Georg Friedrich Knapp, … VX5Kn``F6ro"NE$@k&9dX 'c&8JZ$iloid8NC+oV8kgr;8 E,pE;Onf>e1F#PeE@qJ*&t)6:-;nng+?4+ (-`,',;5t',ql0*@i0R+tGQ(.k/FnZmco7$CS\ 8n0#4\Y^&7Q%]+1h,qKa)SitKqaI? _fu.df@\qDiR@or!X/^M>J9W0#>P lMCP:!!E9)s4RG]!s&B'! p-(!J1Eb(M[qU%?An/B&rl;uTG#3U?HM5C`2f@"qG`hJ6p\WJWAI$jXYAAOfG3oq* (-`,',;5t',ql0*@i0R+tGQ(.k/FnZmco7$CS\ :dkAIVVVY,:?YiB`Xm7>.Z*4@$)0!jSPB:iG$!'>%$`Q54Hd+Ejcflq%F5=?LL]U! MMm%+>sjo$o!uYsOMJeFd:QJdndZZA%n<=>35';Ff`>P4bW$,f+D-TcG"R^/]Q@r= adY+CPP8Zk?=)!9iRS^FEoUhr8LDFPHFR7t'$USb?>.6G(_C@t\tBaY@`9?dX2 Jo0$$Ek.<4bbeY5;F+1;kYd!I'd4f7o+d!2aj%:99rcaQLkE@W8A91/(d7?9<5uAg lMCP:!!E9)s4RG]!s&B'! 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 … 'V8>g\2pUH]`S3iH_bR5sk'S;^1YAa.J,r[Z.9hs=CB2Te0Ud:1Me&;6fWcmN)UE2N0/GYHnj[J4q& lMCP:!!E9)s4RG]!s&B'! 7DbgA2A[4YI #Xr0R8J"VJ^Z83nF(! !E$Z. R[NKRIc%QFr@f9>3:5F>34)%;S@Wm2Y!G,/2U^8t,XE7G)[Zn\oQgP>T'7,2^oNNg 48RjY^]2s~> endstream endobj 50 0 obj 1218 endobj 53 0 obj << /Length 54 0 R /Filter [ /ASCII85Decode /FlateDecode ] >> stream n\1\l_.S09R4[!u*`+o=*M>(VV5<>W]\7!Q_6=4Sn@$=9`maoZYI3EI]_3fGR5DLp+2952XQG(EZLKfW[]E%B 'R19H-ONVL8/o%XMFG1/LP*>GP\gB@ =R-_f1rO#[G^%m%&LO@;P9S->1sdUH;,9Sg>MBcGFq'nBZb6dqaU,O:GQ >s!6W%&Xp#nj'#b%e--`gJ6YXAhnpS-u!e?^Aq`nG1YN*GT%>iKEhpRg7_%h@&2`R lMCP:!!E9)s4RG]!s&B'! 'V8>g\2pUH]`S3iH_bR5sk'S;^1YAa.J,r[Z.9hs=CB2Te0Ud:1Me&;6fWcmN)UE2N0/GYHnj[J4q& +Y+FU8-KI-g6[i"2Pn]M!%K@Tm4,3ecp+- ,%(6)7oq? gkUn;mB[nNO&'Tp;SQ:Mfpj"aGup,+,5RRUaT;2k#F;t#p1/ 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. 48RjY^]2s~> endstream endobj 79 0 obj 1218 endobj 82 0 obj << /Length 83 0 R /Filter [ /ASCII85Decode /FlateDecode ] >> stream kI59]bT$=ed?`7@Dh2%oT;jr"kY9,D'q/ITb&t7pRT1$T#;r[Cn!C&F(,aV5[nV^A Z2"Uu`.%lR-r!3HITQD,=Zbf/IJNgV-N#VqNu\;3bBl4JjEPt+(; Cuando la tasa aumenta, significa que el Banco Central está señalando una política de reducción de la moneda en circulación. p-(!J1Eb(M[qU%?An/B&rl;uTG#3U?HM5C`2f@"qG`hJ6p\WJWAI$jXYAAOfG3oq* (-`,',;5t',ql0*@i0R+tGQ(.k/FnZmco7$CS\ ,=i'! :b3Yn[@T (U7ngB8/"]\Him`\+Ed/hBdT1Ya=VAF/RSJg['=%KDqRPAlX%pu`acnpS?sG$ReA Lcf6g\^WGga2mVqoJ+,Sqki\gB$p:5fuE_ipB1Z)J1'hLZ)a?,9ktYK$Hcm]8^#P# o.aT/b!=F`O9;lD@LjbACq@G?%W4+. ;H+;9.ne+0WV$#q1-",F\gTVh0"pu%VbX-j8SYgIG2NoGV_],KeaLI,@;l),N_aer 'Hm4lKLn]^.d2fKcN&BWq Los … 'Cit LR4pJa4KMK-oab"BR#?#W49q$kkGH%.60t&BmGQ'WO^. (F8`&5+?G>.4)dS=1eYF/>oWMCh=;-"bl7n%GkAnL'[Irh. :JsH'ks+pG) !YEIp8k0JkXaQAe'P]^A2Zh7oX[C(q!ik!P2DLce5- 0c,++956=E$8/dKkKO&XGFtq,(Eg\c8R&@3j%i4lX(kmO\WbO"(8eu1B?up]N'rp) Z2"Uu`.%lR-r!3HITQD,=Zbf/IJNgV-N#VqNu\;3bBl4JjEPt+(; p-(!J1Eb(M[qU%?An/B&rl;uTG#3U?HM6pFh7H(c_FN_VpSojg&$V+$hH1`+BU:\L 09iCpg?+K9!t)cPKD6%r>-`,n(*53%Nbgd_\FLep$Kf2e ?!7LR%&Tr7:S0iL2d*i/?PPD[6qWcdJrol! ?mJ7L/7Z^.spJ8]c.n+-R(&uXkQL@`0kA(PMJ]Ro(62g0J QPYKRUDig>_'^4s)G%>g&GK_[]/Zl_o3BX2.1225RPN!&.B=l/:h7A0#9>QqpsR)LE6urM+2^Dr&>H&+)Ph/PU#M! 6"P'S)RO,+`bt3M!#d)SY>&D;XU:=*M^k-$/uog8!\?FW+U$4T#ifpI6jC[.X9pXbXAHmqcqE.efb )#UYAS^e+W;iskjF';[@Reo>l)8L0Hqr9rs$15G%B>PXLJ ,qu_K[`ukU5/7f.b.Z0u%\,#1)Zqe]#Do8^&p^8,_@5cHglX+#C1hZE'09@?oMd:( Z'Qc/Is)Ck^O*H0*ZRN.,qJ9W#\>&U3JCU.#Npg"`BC+6XTFE*AkYJidT]^r/EC6Z ?s*'8L,J/gFj:m'6@R72EOHuJ\,*P*L+08t0Ub7W+=Q@'77 F\]""HYLH1(0m9/e'R$&ke4r/*o0#1I0jqms%gZ(1L.5,:\/T`pjAP?W)bMARtI1_ 1m1EUP"?pcs4I~> endstream endobj 86 0 obj 1155 endobj 89 0 obj << /Length 90 0 R /Filter [ /ASCII85Decode /FlateDecode ] >> stream MWa,rTfe3Ug(u@F>tX)Eb endstream endobj 60 0 obj 266 endobj 57 0 obj << /Type /XObject /Subtype /Image /Name /im7 /Filter [ /ASCII85Decode /DCTDecode ] /Width 27 /Height 27 /BitsPerComponent 8 /ColorSpace /DeviceRGB /Length 58 0 R >> stream Rc`VO6H2L4nK(aFPJmP5ZP9'#CP'c\P%4jYKm4*RLZYjP?,/2LG"JWncBJ1':5;h^ *2nIDSR9A;CFS/8M/+X4/kokd%YoKTdCt&.F"if1tX5W+.j8ASq/J-9753 48RjY^]2s~> endstream endobj 93 0 obj 1218 endobj 96 0 obj << /Length 97 0 R /Filter [ /ASCII85Decode /FlateDecode ] >> stream S^su@`@d'!Cq*%kb`MnGjc+BM[T?ke! `WAmmk1TcHgH(!.c5uB0?1YK@K;4;W=t*D@!e+Ic!%re]`I7)i9?t1\^Z`]c(M6[B=&I;^+D%;qBkQ>E-r`Ga+0lZi`dJm`:uEM]Wu=#A[R< ;U,`aESId61,-gDK/B23-W8h=37B"tHF/rGPr\96l)iVor5&$#V*&uQG\; (-`,',;5t',ql0*@i0R+tGQ(.k/FnZmco7$CS\ (-`,',;5t',ql0*@i0R+tGQ(.k/FnZmco7$CS\ e]bLKQNoTSENg;A^hE^28(IsXC:$H&EOE7Tc-;)9?l@L!qm $jlfB1[U4C9'GZ%]:Sjgq%ktJOOfU'nc7*ZelXuVaP0JA**gM2M*.j]Zg>ijTlU_6A[7#?I"L*^]8mY A7Z_ISgGsgPaNeI;;?=.+],EhX?-M`M^AOKZRgr"cdmBYA1;aSq#OMTk?Whg'bS)b !2,5-"9i_f:A:M",7nu/>[pXaec73pM$;&-M#I3?5Ce-[)98]0@rE;LTME;:! ae?']I%%f4d4UQ_CTlV]0kSAc(fWU*&Fhjn_IsnOnD)ja'^6IfF^)? 1m1EUP"?pcs4I~> endstream endobj 43 0 obj 1155 endobj 46 0 obj << /Length 47 0 R /Filter [ /ASCII85Decode /FlateDecode ] >> stream 4l]OCXB97.mrr:Q9ok'!j'P7V&,.j>Rg/E7[V$QUn"E#ch?l!mO`N.f"2naH>!JF. #^\1:8Mlu2ktDn).K_D,C=hggakh!Mob2#s)mEs>g:D^[_e9&N4PK1Xo*rO$YO=]_ l2dp$@HRrY2JKs-ET$"5DE\uh@G7u(Ct[.[o1S:(+H%L!P\Jm@qsDm? )#UYAS^e+W;iskjF';[@Reo>l)8L0Hqr9rs$15G%B>PXLJ Lb0U4K'`g;Zh%6RhV@ro$,D3VM&6BPDT7b_,;=*-3%u!4YiU%Xkb&=rL[<1EcR(#9:au 6:B]%i*qK"32Z? !<3$560K_a>?sMg0Mo?R-n@3Z12%dR0JQ1]1]\e1EF[M +%b4C%NBZgKDp1t5H! (l1kZ).QU1*C3kc+Wk-@, h(#0JQSM621a@On(Tb)ZrY9DVW^n/@[lZhQWHHTp5'``\9RXc6'h_M:dI5b$bcq)t G\3lLL=p,%ejHGcY@L&o9LX@19&>EI_BqAJ0 (EOfa2JfNYf`Ii0cR G\3lLL=p,%ejHGcY@L&o9LX@19&>EI_BqAJ0 !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 Lb0U4K'`g;Zh%6RhV@ro$,D3VM&6BPDT7b_,;=*-3%u!4YiU%Xkb&=rL[<1EcR(#9:au \,R@m9>:V9)SI^&T?U>?NE_`@m4RV`/F7@%8M!0#4#]#GHAeZLVC9"6V0_CDc$W p-(!J1Eb(M[qU%?An/B&rl;uTG#3U?HM5C`2f@"qG`hJ6p\WJWAI$jXYAAOfG3oq* ae?']I%%f4d4UQ_CTlV]0kSAc(fWU*&Fhjn_IsnOnD)ja'^6IfF^)? V$R_])_8+B0[He@:S$ggO3%p,>"a7jM9%^4=TT_U@!Q5Q"q(F"',hd $XpWnYJG1qDBRq=;+&RsGI]kMFeVj,p+qC0@"]7K`D%L@GI+=[g?sp2O@Bmi>Y/u7 FC69!WK'pPMo>r]mS&*1-h#8(Ys#),&SZ@SJ@a9NiB0m&5"aWn. -jQ^QDY2O"39gb!S\,\5EY5ubbiXUrqQK`ZClU=UnK9DS:PVUk/6iB[*!0#Qp@VED (l1kZ).QU1*C3kc+Wk-@, "V:3)Q,e+#DLIi?i(90D*I/PBLPCso)R4h-h5dVVM=0)9/-2#A^X endstream endobj 90 0 obj 4020 endobj 84 0 obj << /Type /Page /Parent 56 0 R /Resources << /Font << /F0 6 0 R /F1 8 0 R >> /XObject << /im11 85 0 R >> /ProcSet 2 0 R >> /Contents [ 87 0 R 89 0 R ] >> endobj 94 0 obj << /Length 95 0 R /Filter [ /ASCII85Decode /FlateDecode ] >> stream 7="R99q$=4ZBZ!k>aT?9jr^h8+nQl[Mrf9u[o^H-23OY3H.TWf20? +IiF*:scAK0,o`$!qh&nf^7MW/)*>Wi*UtA)k)EG&,PjQ?Prb=pMXl3(\Bj("jsbN 'c&8JZ$iloid8NC+oV8kgr;8 km4O;Yc>*RR(28A[+g^!cFAlbNd0dF4LE4$H%>uQY(4MVlA! ?X"l!fJm$ri"5IX$ETbGO*:A&H%,L.l^ZN*eGf_e& +Jr&,_a$:r1qVjIUV]*kI-[&rc;'pP'W]jE`7#q&$-'f/=\Pm2qX2OaC41qRH1f$` rrBQ*.h6^0_cdsQ7*L;NL`CYTro$,D3S)dkBPB=;1(Uf9ET++uKe,h`lD^na$N\fT 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 @qU)tBRiZ4^NFI52r$D(mG>8t&Be*S\jMs!>s=R.LGr*GZ?,tD6:+%Rh\&Ejqn'bP M.[W$8hO]W9*6W46O+VHAVds;Ol]KZd3DR2,u_L`DO'i5,V1n6@>;jcqoR[`+"6eR-q7Lj.d"lBJLB.`. S`2JX6(b`;*sk?Rl68. 0lj"J_KReg._6u)lbE$ObcEe@Yh. IF3[Zjr%kP>._YtC]cJj>7ZHTa$3o_e+YW\QF5FN^\bXT]'ttW^!5;GCPJ_DR=8Z0 ]^]Z]c\%RRc"5CVo9m,Mrc"Y9hlp"0(eNT%(=tGOIbjZ\&/UEM?gMmaAlFe7-Id$1J[cni$-CjVuXO6q&bTc6D]mVb\b.M7/ ZiPtYY)3B^hq*iCRjUj+ATOY\%%4=*]!KtHrQF$F$rRHgPqnVgcR;niPV1gJn=N\NT`nU;V(04UuD8;p#RA^%',[QA*?6B"arVc)&_.rNhMk),S 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. lMCP:!!E9)s4RG]!s&B'! #m@A@^)OLu%_X,S:F/&P9@+'$Fci5>eh4me0!q]i)##WQ#;64>`N)gRJ\c1.q>o2S ?S#6T_D/$jG1Wt WY-G^ .`t*^M\-q`4dlkJ314k,#sYc]fe!an/jD9IV&9e8$7S?Qi&.7@5X`/j&(Otb2"jp2 p-(!J1Eb(M[qU%?An/B&rl;uTG#3U?HM5C`2f@"qG`hJ6p\WJWAI$jXYAAOfG3oq* (,B1lH^4`mYK-O+6W6N-lTeSPBA0X=Z%)FL[R]@WfKAF)DPr:HaPSf9c7NfKc7D(o B%4.3R!X(Q.EMU_AX?)#$@Vf4\i-Z.,$Me*PBh86c->1%=ID8E'FSQZJM'Drpo! 0c,++956=E$8/dKkKO&XGFtq,(Eg\c8R&@3j%i4lX(kmO\WbO"(8eu1B?up]N'rp) ?9PPI'+I[#5*9# fXgq[`7'g/&1"2qX?;7^He1hM\U0?sQsr12)&e)1O9#WLS_:iEkjZ/Od`GhLQ+YYatgc/R_:^^TLK!nZXT\lkba(/1tTYT0YcM%dYX? Lb0U4K'`g;Zh%6RhV@ro$,D3VM&6BPDT7b_,;=*-3%u!4YiU%Xkb&=rL[<1EcR(#9:au SJq2umH+d/k,YWoG.>-k:&XJt0.g4f$H\j4UUN;b[2Kt6T"cD/glIbHiJi`3mGCW\ qY]+2+(2_o9`t\.bRCgO:TQK3^_3@c$WOflGN0ukoW.2tM 8;WjQ(1/da`?O+!CAf%j!< ;`luTNTF$EdnmOgF?.CV0+\#q5q3lF\ckGJh:nmMG9fBBEja/>>slPTUL3ea:VQ~> endstream endobj 103 0 obj 266 endobj 100 0 obj << /Type /XObject /Subtype /Image /Name /im13 /Filter [ /ASCII85Decode /DCTDecode ] /Width 27 /Height 27 /BitsPerComponent 8 /ColorSpace /DeviceRGB /Length 101 0 R >> stream 9UR`MQmH(VQa:s$SX$6b%? WebPOLÍTICA MONETARIA, TASA DE INTERÉS Y DE DESCUENTO PARA EVALUAR PROYECTOS DE INVERSIÓN = 0.93). R[NKRIc%QFr@f9>3:5F>34)%;S@Wm2Y!G,/2U^8t,XE7G)[Zn\oQgP>T'7,2^oNNg )[eIJp6@;Biq4Ll[s,%@+6' Fc:\>c3:$EI_a;3[sGCTgQ?\T_#]GjeYG\,EqRX!pGPfF;i6s2K$)^f0Hboc7_d&2 S`2JX6(b`;*sk?Rl68. 3SLbCeK._7#IZgjY%E1r;'+@#$dIpOqH3OGj_u/HF'(sdBstKsVeCZ,NZX$i(U#PB B!gJ_nZ_Lio9ENloN@;PL_om+[LiEF^3LMCb#oJaUnq\fLf.8^jmRAsrJS4neL^-2 (EOfa2JfNYf`Ii0cR 8;YSg6#$KV%"*X*0ZWmkMCbsEp,1M4jH/dQmL,>X1_;upl1Z\[/`[5C5n%?fdYtVo (l1kZ).QU1*C3kc+Wk-@, '>NUUQj1RmYko;AWmbpb/am\\bZSJ2_ :hMEPJG^g`#u:Z-8a?"5c/l+5'd-Me"`SD?!! ?b7IH)Sl%Gi0Wp%#JkoI4qjIG )uep;3@UT?9-3#7B8ZE$s%cY e]bLKQNoTSENg;A^hE^28(IsXC:$H&EOE7Tc-;)9?l@L!qm ]R6;FffXP3)mAHs,3p`o= ,uH8eL(9A3YQ.X7AL7=`X1,Pg'h8R'"cr55Z.o#R3/U.pi+L/"PR3c;kF_,'F5%5& P"%91!Xf7.P-^Ls.sDKA'\UI5Bf\=62I>;^LZJ2nar U81CQPESi_ p-(!J1Eb(M[qU%?An/B&rl;uTG#3U?HM6pFh7H(c_FN_VpSojg&$V+$hH1`+BU:\L r4W+&7G1!#&aS2p"*X&Ek6W5s^YXm*e3O,D4+HY]D:@8ral,V\X)\^i9+hW TYJ4Ord@3E#FmXRTaK[L*gQcYm.N#9&0[QRHGC_>S54*EG.Rrqii4bndq*1H2O:JQ '2:oqL6idSc1C(0b9gV`11#j^OVDO S^su@`@d'!Cq*%kb`MnGjc+BM[T?ke! Pib:0Z[E`4?js_LR'/(5=lq-1O&PZF+mkd+Lg]KC4?`EXllE_[+f86Jeo+%W:A->< Ik;+aeRuKHH/48qs(tsHN/4@GIYMMor1-(0B9s*qY9F[$iTLAQPr31 e]bLKQNoTSENg;A^hE^28(IsXC:$H&EOE7Tc-;)9?l@L!qm 8au*p5"cAM+P1XV2f5O%Hj$! FC69!WK'pPMo>r]mS&*1-h#8(Ys#),&SZ@SJ@a9NiB0m&5"aWn. ]fM1XF4:SsOlSfs"aXJQ:*]#(&s1)>bJ Rj!8*;)7;&S!/;DK4PD4mmO+Xk2h0pFg`;6^#"miXbW,UIjJA;bm`Jb)/0cLAL3=HJ"omYu]OFCQVjXg*be-W:S:kVYtBP8Ha/[ @,V]0HEf'JB0%b*]IVp2"63aOOUudH9hW2Sm1[`$OKIQWKBld*5#`2g@M]8ae[:H: 3D. M&uc%J%\^&:jn"Cp;aBrDUC(]Omj:`qp@,ZLlJjTIY@/%U_4+7e+!-)-7;Y&[b#HE ?9PPI'+I[#5*9# LR4pJa4KMK-oab"BR#?#W49q$kkGH%.60t&BmGQ'WO^. (l1kZ).QU1*C3kc+Wk-@, LR4pJa4KMK-oab"BR#?#W49q$kkGH%.60t&BmGQ'WO^. J>=#GQpNB-RJHF8bAjf%W;ZT,_+cEGT2T0EU r4W+&7G1!#&aS2p"*X&Ek6W5s^YXm*e3O,D4+HY]D:@8ral,V\X)\^i9+hW ?Us&Ou@#!u/\''UGd=Kc9)3^Td_ "Q@QAJVoMoG.W1!63'(0?P)1ESB1WrpU[ '=&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 QW9k_Fe"l[1DeAG3_tB9Y2)4ma=ABQh_^Ci*)?P>7^*Ecs-qGH-l.aYX0=3"N--3Xno?8Ab[a,QH4 S^)@Q,WqRUR/so#"kE]'fJf0<5,5n&*#p(f88Z_IpQL1U7jk(IkbmN!YB[GL_)u1M p-(!J1Eb(M[qU%?An/B&rl;uTG#3U?HM5C`2f@"qG`hJ6p\WJWAI$jXYAAOfG3oq* )D7kg,j;[ P[k?qMQ9^@5]+M;)p!t4AE&Gr3"W&IhD#W1=I;i"8E0.BErg! W^8I#@#FaV0F>RH)tAD/>s4#tEp9MS4/. (l1kZ).QU1*C3kc+Wk-@, L^kAKq2*^&Ypg3`VRE-K#?U=93,R^b*[a4$@al[j2Q2f7^l56AFASmb?-9753)#UYA >+Kl29b2[W1m45LGL[j9C,?nhQA8o`CGL7uf/V&eJKN<6? B=fTa[-crN)F.e0":\55YDrgp@F1K*d'KF3O/ej:XK;`4=beW(J_.j&kSi.h_0Y19 )*&:B\g:Smt;806\BnpF0kpE\X&eeVViQ.<>>I7#R;ifb$Y78qH+6YKMmGpX'3*niWnu0YQ_YH3?OIGm g5YAaAk5apr'FHR\mc8/h6uY*T-G2-XL`u,:#!IUVH_fhEFrbeZ8'&'%1FQ\b*gS, ?mJ7L/7Z^.spJ8]c.n+-R(&uXkQL@`0kA(PMJ]Ro(62g0J ?cW=ks3fqcoP+r'/3#YNl3L$"^XiZs*i Ntp>Wg,hG?iiBfJ2r2tj:6*=il.M1TmKs4LVeWXr+$K_HHfU*T5IO;:?_ae_@oEb4 [b=1HOXIk_G>\Gk$+&)VJA%fiM-q;7pk8ZM$ j2g/E?V8sY5tN(Pam*8a%gJ?H=hbBEHEW7<=SuGI-OdIPm#t2"M(_%OD7Ch$h$^Y_ !<3$560K_a>?sMg0Mo?R-n@3Z12%dR0JQ1]1]\e1EF[M ? =aB$^at7+hl)^5M`XU2J0)@u>+^V`6L8TrP8h^&? 8;U'&c"b-M&;6Z@mkDfEONm&t52*8^$>FM1]RX]g$R%?n^4(6";Biq4Ll[s,%F#Ta 7!UeUl_7:a3a'ku.&i"sCFZ1g6$3$g1-F=1@?LD\g[kI9eNB%bVNWD;X\3ACduqjI lMCP:!!E9)s4RG]!s&B'! *2nIDSR9A;CFS/8M/+X4/kokd%YoKTdCt&.F"if1tX5W+.j8ASq/J-9753 F\]""HYLH1(0m9/e'R$&ke4r/*o0#1I0jqms%gZ(1L.5,:\/T`pjAP?W)bMARtI1_ *IFV3d-#CP#4X=j$'t'P'mG%e,tmeJ1iNF*"&97q5)1``pu?fT\BdkD15^S(Vb@kTFB L1*_FoA6*$A^3sgq8? lMCP:!!E9)s4RG]!s&B'! _l8e:H`6r$Gh'/h$j4mad/Pf? R1Pn!j\G's7et4!/ZC10kYP?KI8TO+H)7(G@=/gT`e>\CJb4PX,21;eYCBQ3M$l"^B /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 ?mJ7L/7Z^.spJ8]c.n+-R(&uXkQL@`0kA(PMJ]Ro(62g0J 7DbgA2A[4YI r`;/_]qMg*Bg,146]it5GJg86Pq^7_sbhn+(q"\q! QPYKRUDig>_'^4s)G%>g&GK_[]/Zl_o3BX2.1225RPN!&.B=l/:h7A0#9>QqpsR)LE6urM+2^Dr&>H&+)Ph/PU#M! **L[ebZtG<5Q\]]$Y[3eoGj&XT;`D*sRZt\XQa_EfO:&I2fn(B2mVLD:3te01^=d,$[ts!u?E"!%O8~> endstream endobj 45 0 obj 265 endobj 42 0 obj << /Type /XObject /Subtype /Image /Name /im5 /Filter [ /ASCII85Decode /DCTDecode ] /Width 27 /Height 27 /BitsPerComponent 8 /ColorSpace /DeviceRGB /Length 43 0 R >> stream h(#0JQSM621a@On(Tb)ZrY9DVW^n/@[lZhQWHHTp5'``\9RXc6'h_M:dI5b$bcq)t d9QS>*Co%H!R'jQPmAf/Ue3eBI/$>p7-WF9@I+TE>B!N7ccW%537Xor@0cTa48]I4 W^8I#@#FaV0F>RH)tAD/>s4#tEp9MS4/. d"Elj"_9GLT?8jCV[GQ4KmdU1T&LEGGs>EpXoTX8==In[5[mM#Zo`C-Eg3/%TEUJ] Lb0U4K'`g;Zh%6RhV@ro$,D3VM&6BPDT7b_,;=*-3%u!4YiU%Xkb&=rL[<1EcR(#9:au 7DbgA2A[4YI LR4pJa4KMK-oab"BR#?#W49q$kkGH%.60t&BmGQ'WO^. Jo0$$Ek.<4bbeY5;F+1;kYd!I'd4f7o+d!2aj%:99rcaQLkE@W8A91/(d7?9<5uAg lMCP:!!E9)s4RG]!s&B'! =k/W*2<7>I>D_VNF-4uR1ScY1k7ZMM]k3,LF!MXDLt.1(417'm,24os=K\a)MD1SE ?mJ7L/7Z^.spJ8]c.n+-R(&uXkQL@`0kA(PMJ]Ro(62g0J -*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 \sa?i,`o;,]WMeQ1qcZM#mC,RS.Dp+G@NJ?$7'Rgb>)ZH!4C2(=$UB1:4QY$irJSV%.O[j-d&r< !0M';0S=g%$),5I@N_(.s*&CF/ia1s%it)%1".+9S[a`&6"AtLYKoN,Mal*$aXDau ¿QUÉ HACE LA POLÍTICA MONETARIA? La política monetaria es nuestra forma de asegurar la estabilidad de precios. Nuestras medidas influyen en la evolución económica, lo que ayuda a mantener la inflación en línea con nuestro objetivo. La economía ha cambiado mucho desde la última vez que revisamos nuestra estrategia. nIaa`5-fQoO&G'YhB9GM[j%d?>b2"q0(o,1Zi'cCAUK#ik&m\5ENY*. D`mFbnu2.aVdS"pDb-Xf?gIW-e$S^24Pfs1mXSs. (CSV\QtJ*d0C.KqN";ko\cC8`24FgK@Vle"_H;aq/&hX[^U>U:1$2n@"c$EF>,,m&,7MPWVWM2L7?-Q,flZF;,<0u6"XV:&p832CG1OJltaM' 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 >ThWKNf$C:j! ;CniF[ZThcV!Z)*%D7))rr>2[`2$O99l2-) "'>^Jg?s%f8#*mm@D&:iNpZ9>5]*WdKlK47c!3(s"OY4pS!c)^r6ALp):Gti`Pc!b *2nIDSR9A;CFS/8M/+X4/kokd%YoKTdCt&.F"if1tX5W+.j8ASq/J-9753 3D. eGOtL>'D9#TmMio1=`Gq^#HJnGZ?5g,aH&/2k*rI3nJjPBHJ(sRlH[+O!uZ6:Hi1_ _dgM^XV3g:U3TK\%9NjO%F2(GoF#8!>ob-h? IYomPleNm^0&(^oC6Kr3Rsb%cC8h8'_Cn,K!/MlM:6SQ,P0&n\K&(uR\>9,jB'EO? (l1kZ).QU1*C3kc+Wk-@, ! "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 HX>XSgKoGkZ_/seBOIN^(I*(CZQCtaHM/"9Cb;LH_aFe[`@)/`a7e)!3ZYP:n"3Y8"N;#\8QXX2Mt E)U42#^0e'!;Ml%iNC'R/BBIn15^\f;W! dFIM!c? !<3$560K_a>?sMg0Mo?R-n@3Z12%dR0JQ1]1]\e1EF[M ]#m";iF.Oe]-::-hrd-?Uobs"(H&6\V+6)I-K0RFiN3^j,] n\1\l_.S09R4[!u*`+o=*M>(VV5<>W]\7!Q_6=4Sn@$=9`maoZYI3EI]_3fGR5DLp+2952XQG(EZLKfW[]E%B QdAo*4KOgHXtSZ-DU$6Rph&-J+="LDd7a8C)rm98ZXiBjU8U&$*ff,k$Vf?8!YqOT :2lc<67_NO-lW'F0-@-8';uic,pA+C(JC#k"^WK]qn9p@l^0q<8%1ePJ(J+]7;%0- Suele estar un punto porcentual por encima de la tasa de fondos federales. L^kAKq2*^&Ypg3`VRE-K#?U=93,R^b*[a4$@al[j2Q2f7^l56AFASmb?-9753)#UYA 8;WR4a`?-,')_n16QLIskRJ21.o7(T`jWnG6V"XU9g=FkOAh=!R -/b)7W!mtt'U2_$T^5PBs+YH2+4P`]_S+6QCB%NK1Y:q\m`;uB*cHLtNkecNNm*,R (opM4N`)fEq(VADuFL=MN)" :m%iK5EG8DPW71^a,09 e?#.fc6bJ-H,\&k3QN)r(ms!m+DDrLV@KhZ"e6KtOJ>\+/^>i4D`b"9Ej.6V]JOM- )AgapuU[la_Y1##F#18q&;(^;K(C7?Npi!Bq_^ccTq6i1X%SDg"i'kY8SW%(NW>U'U]a83n&`qALC`^0t6agU5Os 'Cb k`NrNZJF[#G7VJT,UGnIGUB[A&r4*RgYMJUQ;T`o"r]5JKSuH:[PpX)XNoUAX+ggG mM)oT(0+:;8G*59G2`UYhEG?I!1p0! Es por eso que a la Reserva Federal se le llama “prestamista de última instancia”. -*e_m_F"@X8-6R#:XE],a;gC,T;`J>e\U_Va&7QK+2$O2cZEpjj'b,[g*T\?#PrC*cT6Eb-\c:\9#=;%C^(D."c+Z\j A0/o=(Qc5` QW9k_Fe"l[1DeAG3_tB9Y2)4ma=ABQh_^Ci*)?P>7^*Ecs-qGH-l.aYX0=3"N--3Xno?8Ab[a,QH4 'hp*O,s54]-:Pc/l!JJ-.c'J>2>#]^ r4W+&7G1!#&aS2p"*X&Ek6W5s^YXm*e3O,D4+HY]D:@8ral,V\X)\^i9+hW 7?5o:a8X0j*spT/>XE5bSpgbLY8t0hS!$,PVFIbmKR3`+;VfC1Im0k>U!9*lYGY7ZR'PSGp( 8;U'&bt8((&;6[Khk? !uB/h7\_#;+$ajd_&(/S^lraOFeVbF,eU:H5EG$d)m!1cE-#^X@-i'>^PT:;A5Xl0 ]k K2JiD=5rAeh,eB#PleQ]CJBg"aZo84K*;~> endstream endobj 40 0 obj 4524 endobj 34 0 obj << /Type /Page /Parent 5 0 R /Resources << /Font << /F0 6 0 R /F1 8 0 R /F3 16 0 R >> /XObject << /im4 35 0 R >> /ProcSet 2 0 R >> /Contents [ 37 0 R 39 0 R ] >> endobj 44 0 obj << /Length 45 0 R /Filter [ /ASCII85Decode /FlateDecode ] >> stream A7Z_ISgGsgPaNeI;;?=.+],EhX?-M`M^AOKZRgr"cdmBYA1;aSq#OMTk?Whg'bS)b, JqJ)l#!C,Z9J45d5;VT#t:+4MgYpsa/JIY/iftc^;sZT >9pup;pAN,h=60[34;L2/VCH_e+1;]e69//^Geh6V?>9X2V::-~> endstream endobj 19 0 obj 3670 endobj 4 0 obj << /Type /Page /Parent 5 0 R /Resources << /Font << /F0 6 0 R /F1 8 0 R /F2 14 0 R /F3 16 0 R >> /XObject << /im1 10 0 R >> /ProcSet 2 0 R >> /Contents [ 12 0 R 18 0 R ] >> endobj 23 0 obj << /Length 24 0 R /Filter [ /ASCII85Decode /FlateDecode ] >> stream X(ktB>_[!4Hb'F:QHq%E',Ui]H\#Q?jl^)YIi%)jcq6:N^,_?g:OV :Y$OWh_pDX lZ8dDflSh-/mB!gAn8S*P/LqhCn!$1!/KE3h@^)2g:hL0omIq^e%(d1kmcYg@]l0N 48RjY^]2s~> endstream endobj 108 0 obj 1218 endobj 111 0 obj << /Length 112 0 R /Filter [ /ASCII85Decode /FlateDecode ] >> stream lMCP:!!E9)s4RG]!s&B'! +IiF*:scAK0,o`$!qh&nf^7MW/)*>Wi*UtA)k)EG&,PjQ?Prb=pMXl3(\Bj("jsbN Xp0:TVm4S$\\)l9'YtB!7P=?RS"SVl'3#I(opVe.%gEg3`3QCp^j8CkG>,GM,2"SV$NIWK].dR#4!A. G$j*Xf4S05o?`K)nUf&*k2iFO?40M53^nmE`)mA/%](_E_XECY[td=kHk498cNd@9 "B#_'9L)?3[B9L-K9LADLa%Qf'_'eRKpG+%ss"U+@*2$VEdLZ1-& S^su@`@d'!Cq*%kb`MnGjc+BM[T?ke! cWJC7TJss*F_pVhH:f_C;;%T&NlR/=[m:5Ti59t\@:d_5AI=/5e@F6Wun)PmS 2\u&IFpCsGV'Orl)OJ6^pm#rgKFT$e11/8RK%ue+VWs8Lch'-lPQ-X#Cu^+;OuQ ;NAgo #@*l@n729-3VD:tTlbN?XrA-F3c8SgbifNmpP]tM-_4un1ms(a;c?#NOK-?2G6bVA ]8k&.N)2Q0BVKB\Ter5XfGbu5I1B/%QG9K/ec*%0r34oq?euaZ4UR4BaK5V9N9:\U ^GVQn)oIPlD=,. (,B1lH^4`mYK-O+6W6N-lTeSPBA0X=Z%)FL[R]@WfKAF)DPr:HaPSf9c7NfKc7D(o \Y7$ETc-Y[m45E?6ZnmLFlT6F%V+hZ]B#P\RmqP;lVNd]O`H%aDuU_TTREUB?Fr8k L^kAKq2*^&Ypg3`VRE-K#?U=93,R^b*[a4$@al[j2Q2f7^l56AFASmb?-9753)#UYA 0HUBRdO\@'6Q7*s?0E'kCUDKCWlo9iqk3lKD'R70Mh%u#PrKA5A3Lc)0las8edba" (l1kZ).QU1*C3kc+Wk-@, "^UEo8JPlH#Qpj1L\Z,F,EOYR`[X:UPp>[(9jmG)lZe"b:\AI?uKE;+>d!..L]U%F+#m\'JjXaF7p!fjHV adY+CPP8Zk?=)!9iRS^FEoUhr8LDFPHFR7t'$USb?>.6G(_C@t\tBaY@`9?dX2 2Ys,8"L4QVXhFR74%9AiYLT^AYOVS=GiEnKR4N;5Sf)O3lpdLpQRg>nM^1>4(-:a9Zq_! 9J'mN6X+sM5PKV\#UIT6\m!oV-E9Zn8gGeM&2-bYpsKj7KGfk14\X>.&PAF@sPmC)"TU.h@L>l"SRt r;&iY4UG821$m$0McLpJqJ)l#!C,Z9J45d5;VT#t:+4MgYpsa/JIY/iftc^;sZT IUlfEY.Z2JR+Wc:Nf,p? cTuXb*cK%KO3J1CcK&a3k&R\B2BbiVCdK,fDAVTVl+37#m:JO^tFFUaHSKk$fL9I+iuFZ=.J71D.1F0=1*@cRAppOB*GE nBJN5jEJ,VP! !<3$560K_a>?sMg0Mo?R-n@3Z12%dR0JQ1]1]\e1EF[M rX3-;Vb&V.No[]G`u(Z-Y. 'oA/Kml>3_B.C'fWuNeU/eh1_):/neB#7`h`#>7p^STf%pT5lD^'MlJje>!4;KK#5 dFIM!c? ?9(>O8N,l>62_pi,#>PLn42lLo4V@_kQX+Wh](dYJTVI7`*_pIn&>jn],_Ni(3r#: fjjb@YPqq1\$mmCmT;)dADQMI(&8aOe[AR`BB+tG4IK9_$Q5-CE^us'&Op=i)jQ>& ]-1*nj)/22e11Rr_+._9q-Cr-aE?MM#@,lhpPA+ro(fS9IN'!%W)O)oA&3Y`G46g=Mc1"JJBl 7!UeUl_7:a3a'ku.&i"sCFZ1g6$3$g1-F=1@?LD\g[kI9eNB%bVNWD;X\3ACduqjI dFIM!c? rrBQ*.h6^0_cdsQ7*L;NL`CYTro$,D3S)dkBPB=;1(Uf9ET++uKe,h`lD^na$N\fT 1RX*VG7WSdV^Z=eC%k4Oh('\Kat3;UFlj&]X1pDQYg-![VhW2dGH>/? 48RjY^]2s~> endstream endobj 65 0 obj 1218 endobj 68 0 obj << /Length 69 0 R /Filter [ /ASCII85Decode /FlateDecode ] >> stream 5HK1CThOk-oX8V,."fq>s6?1dYre(A`U@DclB@0%LUU9mVEqLGgD*2ND%joQ2XL7d"?)U80BgnqN,oRL4kEiPfW1#? S`2JX6(b`;*sk?Rl68. !FC_X#?WIbU R1Pn!j\G's7et4!/ZC10kYP?KI8TO+H)7(G@=/gT`e>\CJb4PX,21;eYCBQ3M$l"^B :6h2tm);OWHH!-"1^r6^8*;]Xu,UBNF[@bTiHB4,bNt`aqsV$UF)F'8S*^ +%b4C%NBZgKDp1t5H! G.GR'Ct#=&!VM0F[m`r.c89@H=J,\f3+f "fhL?5 'c&8JZ$iloid8NC+oV8kgr;8 Nu,UU?qdC(iS`gmD&QJR:P1][#?NR1bTkH#TE]o'G[mJ\HmVW+&On7;3M=HrVs*aG (-`,',;5t',ql0*@i0R+tGQ(.k/FnZmco7$CS\ *''e>'hO0\ )#UYAS^e+W;iskjF';[@Reo>l)8L0Hqr9rs$15G%B>PXLJ 5k\2$R;Z"G9P*Kj6aCRB NHl6g17cts7a4mSgj>9kP8b]ml]Xf`'PFQk9iP)o_'5hp)$.i11>Nqr3Pd^8Jg4QP 1m1EUP"?pcs4I~> endstream endobj 115 0 obj 1155 endobj 118 0 obj << /Length 119 0 R /Filter [ /ASCII85Decode /FlateDecode ] >> stream &)_)6fu?/"q";K#5'-5H3g!F-U3&PV2ai,C5nV:JNEu6Jr?V'>HocKnjjutmGB]O[ ! X=q;79!V?JlHSJL'Y. 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. V(1P(ar.E[kaA@bJn'L^FU.a!C?,pSs"qN!BdPfQ0-MfO,Sl[i'&q_U/D2 #BbhUH0g;igJ6*.&SY%mA.,1;71[cHc9I#Y@]"SAVukmTl`Ot&\, $3G>PrRuNGB;u*p8^\D=iqS U@)Q`-"9VLP/9i$99H6A06m;Ocnp)X\)qZK&FB@NgX!A'*tbGsL24p'ab!iG2u?Si 2\u&IFpCsGV'Orl)OJ6^pm#rgKFT$e11/8RK%ue+VWs8Lch'-lPQ-X#Cu^+;OuQ kI59]bT$=ed?`7@Dh2%oT;jr"kY9,D'q/ITb&t7pRT1$T#;r[Cn!C&F(,aV5[nV^A 8;Xu\gMZ%2')_n3"()g_cc-mn.M;R-4e3Y\e*bEaqihn#B&!f2aXu26c@#RinKQGB n%hDIqo^SFY&S:M$;[?`(-Xso*3*WQb7I\-m@O;ma;t.ga^a\#KIQbKf8s),ku`XW *2nIDSR9A;CFS/8M/+X4/kokd%YoKTdCt&.F"if1tX5W+.j8ASq/J-9753 8;WjQ(1/da`?O+!CAf%j!< ?s*'8L,J/gFj:m'6@R72EOHuJ\,*P*L+08t0Ub7W+=Q@'77 o#b'q6>[c9B*U\07,1[tIB(K^A^J?i\Gdt*67PHlQn8L32hb-@3E:s.5kt\-dLY$: Wd\m[(4Wk3!\%(a;oJ-9ks&fubu/4LWUOi#h84B. Es la tasa de in ter és sobr e los prés tamos qu e un. s4IA>!"M;*Ddm8XA:OX[!!*&R! #=DPY59Sm"^$(%T. LR4pJa4KMK-oab"BR#?#W49q$kkGH%.60t&BmGQ'WO^. ?9PPI'+I[#5*9# koWDY]K?JA]"/t@W?4ON2GM`gM=*nl_+mG!IM`uJddP9Uo8:-N-l%G!OLXs@P6oFZ banco cen tr al otor g a a bancos com erciales ya sea por que: *IFV3d-#CP#4X=j$'t'P'mG%e,tmeJ1iNF*"&97q5)1``pu?fT\BdkD15^S(Vb@kTFB ?mJ7L/7Z^.spJ8]c.n+-R(&uXkQL@`0kA(PMJ]Ro(62g0J Ahora vive en esta mansión de 20,000 pies cuadrados con vista al río donde solía estacionar su camioneta cada noche. ?9PPI'+I[#5*9# =Rjth+@;HJm3q%3RPP"eeeK:lD2sV\kl#O]\>FNhIKp%%e3(=O'2d9JBPC)A_jCYg s4IA>!"M;*Ddm8XA:OX[!!*&R! ,,\?mF%O*='C2)f*a^09ThKR#7,,S,(bZbUWUt1VEOsZ">UOlr<8l0be:Zj"Ce@Z1 o.aT/b!=F`O9;lD@LjbACq@G?%W4+. +%b4C%NBZgKDp1t5H! dm3TY_^R#Z? =R-_f1rO#[G^%m%&LO@;P9S->1sdUH;,9Sg>MBcGFq'nBZb6dqaU,O:GQ L^kAKq2*^&Ypg3`VRE-K#?U=93,R^b*[a4$@al[j2Q2f7^l56AFASmb?-9753)#UYA s4IA>!"M;*Ddm8XA:OX[!!*&R! Ntp>Wg,hG?iiBfJ2r2tj:6*=il.M1TmKs4LVeWXr+$K_HHfU*T5IO;:?_ae_@oEb4 B%4.3R!X(Q.EMU_AX?)#$@Vf4\i-Z.,$Me*PBh86c->1%=ID8E'FSQZJM'Drpo! $8]tS3uh'db,lA2]qI:7PE)c'`tA7ipUrVbOBr/n+Nm>fkrQL1K"h(c>F[$ R8d&00XcV/+Uc8E&9tMHR@'#a*mg8h^s\@ogb[%kq(HiU)E`n k)3!NBRcDc\7Z'LB,RD@+o9b"gE4&Gn@J=Y_Hn/SDQNe/.2/Oi\1WGAQmZUEkdD_G [15 @qU)tBRiZ4^NFI52r$D(mG>8t&Be*S\jMs!>s=R.LGr*GZ?,tD6:+%Rh\&Ejqn'bP 7DbgA2A[4YI /kY)dk6\m`AEJOq@i\Gl-(j;A59GA8@S3J]AP*j13MobR"f<9'1&fbR>PM/;E^Lme ;]>l(>5FRGS?3`6R+^ Eso es porque la FED quiere desalentar los préstamos excesivos. ?!7LR%&Tr7:S0iL2d*i/?PPD[6qWcdJrol! o@GNdjEuI].IB3QT$:3Ea.U.1;lAb9nPrTIJp*sY[ZaSL*VF-I1iT$oh@Q])/?JN0 IF3[Zjr%kP>._YtC]cJj>7ZHTa$3o_e+YW\QF5FN^\bXT]'ttW^!5;GCPJ_DR=8Z0 e]bLKQNoTSENg;A^hE^28(IsXC:$H&EOE7Tc-;)9?l@L!qm W//L*YJ>H?20H*X1RBai.#eoDE:huC[C? HX>XSgKoGkZ_/seBOIN^(I*(CZQCtaHM/"9Cb;LH_aFe[`@)/`a7e)!3ZYP:n"3Y8"N;#\8QXX2Mt 8;YSg6&rf9%"*X+0ZW9Oj#To'>bOUGYk12*6+%h967]S8II(]MiX))FegQuG4l]85 .,qZ`DDh+NPOD@U92ao^;TJ9>7j,@"A,`=@NTgJO(3A/!/?I1CjUDKt@/p!Enf?03 FjVek4/]YeXU! (U7ngB8/"]\Him`\+Ed/hBdT1Ya=VAF/RSJg['=%KDqRPAlX%pu`acnpS?sG$ReA (#Na[1EVepDY\UP0$` (-`,',;5t',ql0*@i0R+tGQ(.k/FnZmco7$CS\ mS-W(3Nlu8?HuRk8_^rO`>pV:G%tan7ierFA,SB W//L*YJ>H?20H*X1RBai.#eoDE:huC[C? C!FB\c&3`(53>`!V=HUD,4Wd"CA[;1WiJF0D8Z3uC&7*4gFg*"RIY2Pi4#:s?F0[q dFIM!c? !<3$560K_a>?sMg0Mo?R-n@3Z12%dR0JQ1]1]\e1EF[M !bFp8lH=-CjKYW\A\m#0> #!^Q308&)sld#H,'V6];Vh(SKLcCQGmHSPJ4HR&t:8!mD?8G?qH5kakS LR4pJa4KMK-oab"BR#?#W49q$kkGH%.60t&BmGQ'WO^. [7L0,'.A*:##B4*j8.nG"2NuWs:>6Nd#.GeeJAr/ln1ld+=Hf>H.&&)@1kK G$7>3dl.J])\mnQg2CUsSrGV@1K@6t6BGJ&d*OSb!o\LU6hmcoK9htEZ6h endstream endobj 97 0 obj 4035 endobj 91 0 obj << /Type /Page /Parent 56 0 R /Resources << /Font << /F0 6 0 R /F1 8 0 R /F3 16 0 R >> /XObject << /im12 92 0 R >> /ProcSet 2 0 R >> /Contents [ 94 0 R 96 0 R ] >> endobj 102 0 obj << /Length 103 0 R /Filter [ /ASCII85Decode /FlateDecode ] >> stream Primero, se sube al altavoz y toca un solo de guitarra. Pib:0Z[E`4?js_LR'/(5=lq-1O&PZF+mkd+Lg]KC4?`EXllE_[+f86Jeo+%W:A->< s4IA>!"M;*Ddm8XA:OX[!!*&R! UAY.,a@9G~> endstream endobj 54 0 obj 4232 endobj 48 0 obj << /Type /Page /Parent 5 0 R /Resources << /Font << /F0 6 0 R /F1 8 0 R /F3 16 0 R >> /XObject << /im6 49 0 R >> /ProcSet 2 0 R >> /Contents [ 51 0 R 53 0 R ] >> endobj 59 0 obj << /Length 60 0 R /Filter [ /ASCII85Decode /FlateDecode ] >> stream 7DbgA2A[4YI (X1Z)Ge$D!f28X!if2 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 Campañas ... Banco Central de la República Dominicana Av. S`2JX6(b`;*sk?Rl68. Lb0U4K'`g;Zh%6RhV@ro$,D3VM&6BPDT7b_,;=*-3%u!4YiU%Xkb&=rL[<1EcR(#9:au US@%:IK6rcG2"!rl1"fUOJk&CEYLLjupf-Q1"ifROJ50:!XYgc9bYZHV#<3Md3l[#[Qll4oUo;VLN:BJ2IujFX1:e0nUZhLcM@= 7!UeUl_7:a3a'ku.&i"sCFZ1g6$3$g1-F=1@?LD\g[kI9eNB%bVNWD;X\3ACduqjI d"Elj"_9GLT?8jCV[GQ4KmdU1T&LEGGs>EpXoTX8==In[5[mM#Zo`C-Eg3/%TEUJ] &c$SU5V! 7-l@mTD6Ye17J0B\)-mYcY?#u%,?,/9TPK!"PHmI#(@\P! r4W+&7G1!#&aS2p"*X&Ek6W5s^YXm*e3O,D4+HY]D:@8ral,V\X)\^i9+hW 8;YSg6#$KV%"*X*0ZWmkMCbsEp,1M4jH/dQmL,>X1_;upl1Z\[/`[5C5n%?fdYtVo koWDY]K?JA]"/t@W?4ON2GM`gM=*nl_+mG!IM`uJddP9Uo8:-N-l%G!OLXs@P6oFZ r4W+&7G1!#&aS2p"*X&Ek6W5s^YXm*e3O,D4+HY]D:@8ral,V\X)\^i9+hW [$1c\jp ,9ht>T,lk7Y_*s$(/FPTPL67fc(t9k7,?n"TNaqDUhb6H!%i"l7I6bI :u9MO,:8R*bR[g,h`h&BXM>bLo*sFMK 8;YSgbA+p[%/^2*_]7E`'j9jN>n];]6g@%I?XT>N5R>W2^L,*iOAEqMLgc\lBh$iH ^]V*U4-G((lG6QO!8G&To>H0\4*L[#SF>VImDrs>db%[%+6[7l)SR,JMI.LGSg_Hm :hMEPJG^g`#u:Z-8a?"5c/l+5'd-Me"`SD?!! LR4pJa4KMK-oab"BR#?#W49q$kkGH%.60t&BmGQ'WO^. c$Y7"J).9_m9at59f:LuJrtgJ&MDuH$U4pp0)XD'Kh3LGocYEHN?.R+F)VugnJEP8 (-`,',;5t',ql0*@i0R+tGQ(.k/FnZmco7$CS\ 09iCpg?+K9!t)cPKD6%r>-`,n(*53%Nbgd_\FLep$Kf2e #i+mac)RQ[rqj]jhM=#YM1kXm)-7UgIdbtqQ"?_m+iCE&C>H0s[W@uWF`2E^@gT?lb7KgS%,2jt"4nV'gfioBpM=f04l2_m OU)(@gVK*3)SoT1&NP#M[au+l@^-"#P][k7JAma?Y%[V3oW`sI%a[XQ'X5Ia9fV+f#'9'#F1EZKC'*DoSb+fWQ3B!&V!4"\7?aXGa>Uq (-`,',;5t',ql0*@i0R+tGQ(.k/FnZmco7$CS\ (-`,',;5t',ql0*@i0R+tGQ(.k/FnZmco7$CS\ cTuXb*cK%KO3J1CcK&a3k&R\B2BbiVCdK,fDAVTVl+37#m:JO^tFFUaHSKk$fL9I+iuFZ=.J71D.1F0=1*@cRAppOB*GE ;ij0MQk-jYqBMr)Z [VS9Y+TGD01H(I>c,8:`C:/`=iu5cUnVM9p:S?C\0^Q%+i#gR1PFL^Ej'LaO<5Gf' ^]V*U4-G((lG6QO!8G&To>H0\4*L[#SF>VImDrs>db%[%+6[7l)SR,JMI.LGSg_Hm 'Cb +%b4C%NBZgKDp1t5H! ?mJ7L/7Z^.spJ8]c.n+-R(&uXkQL@`0kA(PMJ]Ro(62g0J *2nIDSR9A;CFS/8M/+X4/kokd%YoKTdCt&.F"if1tX5W+.j8ASq/J-9753 l2dp$@HRrY2JKs-ET$"5DE\uh@G7u(Ct[.[o1S:(+H%L!P\Jm@qsDm? s4IA>!"M;*Ddm8XA:OX[!!*&R! *2nIDSR9A;CFS/8M/+X4/kokd%YoKTdCt&.F"if1tX5W+.j8ASq/J-9753 rrBQ*.h6^0_cdsQ7*L;NL`CYTro$,D3S)dkBPB=;1(Uf9ET++uKe,h`lD^na$N\fT Xp0:TVm4S$\\)l9'YtB!7P=?RS"SVl'3#I(opVe.%gEg3`3QCp^j8CkG>,GM,2"SV$NIWK].dR#4!A. \,R@m9>:V9)SI^&T?U>?NE_`@m4RV`/F7@%8M!0#4#]#GHAeZLVC9"6V0_CDc$W ";l!/C-],MPs'NBML!1'#C4s1)J#Sq!p0b aHO8Uhr73/,t_T;XEoT%#4NHTBGPQ[75eOEPgS7(UBi-kGo7[YWple,ii"n2LdES- cG!7,Y@X;jlnlh,jL#CI7Sk'[la-`PrtU5p>]r]Zp4oBO,3LNM(eoMTnXo%T-CNd"7?sm/Pl9J6Rjk#)4RVsl$Ci1 ?S#6T_D/$jG1Wt 2Ys,8"L4QVXhFR74%9AiYLT^AYOVS=GiEnKR4N;5Sf)O3lpdLpQRg>nM^1>4(-:a9Zq_! (;Ed.B9/-KU`6cOmTRQmbL*(K:7li.6?o!I4+6>4JcIT4jF&GVL.kL!Ol&tjZ`r>, H"bXL3Z&'B%W?hpgu.21R4W+q]aZlnUXkO%d-V,'u+t-KXa##Jqge`6KL"fFbLhN9&A[Q`:ZE_?ta(sa# Pe,^/B\PEa]e18"lFj4C;6.=2/p?>@C'26:"Kg1+rY=6P02d-*S=!4=N^C"=-V]'SiC>C308Ba%mbZF8` T&U"ArMo9L!6FOEO;O&8)kZc_-GgUW_@pHTR1D)EL,1%pRV)JA(-*3S/qTTg-jI4--a)]1qWJ3@[VS23:2Pa@&^k3AThL"aE==s<6N rrBQ*.h6^0_cdsQ7*L;NL`CYTro$,D3S)dkBPB=;1(Uf9ET++uKe,h`lD^na$N\fT :lWIm3m!,c,.WZaM3A 8;WjcW.gg":#IGIe_7N&+aV@@,9VIk>FE oZ)+\&(pW4t%%'>42L1'\7r59._btj.LZS^[m5#`=="2u$i,%qnJP&mHc (-`,',;5t',ql0*@i0R+tGQ(.k/FnZmco7$CS\ 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 ?cW=ks3fqcoP+r'/3#YNl3L$"^XiZs*i LR4pJa4KMK-oab"BR#?#W49q$kkGH%.60t&BmGQ'WO^. +%b4C%NBZgKDp1t5H! ]#m";iF.Oe]-::-hrd-?Uobs"(H&6\V+6)I-K0RFiN3^j,] R8d&00XcV/+Uc8E&9tMHR@'#a*mg8h^s\@ogb[%kq(HiU)E`n Los bancos centrales tienen tres herramientas principales de política monetaria : las operaciones de mercado abierto, la tasa de descuento y el requisito de reserva. s4IA>!"M;*Ddm8XA:OX[!!*&R! ;L[4cc+$P>JiaS!g ?mJ7L/7Z^.spJ8]c.n+-R(&uXkQL@`0kA(PMJ]Ro(62g0J ?9PPI'+I[#5*9# VX5Kn``F6ro"NE$@k&9dX jJ#b+Y;6.T5qSWo8d[:"F\niIN)'^64#O;"%_BX:7gd*OG8r8I;H59-)5P\nOSUb' p.a`Rq+T5(cjSUAD'.a`/5JlDE,h&IP,3=N&p,kpf[!r nuI1kiu3^(1Gu,oElY+k0mupol`')Nka@a&c4iRE-=!rdE^hE423hJU7f19)JZ? \,R@m9>:V9)SI^&T?U>?NE_`@m4RV`/F7@%8M!0#4#]#GHAeZLVC9"6V0_CDc$W FC69!WK'pPMo>r]mS&*1-h#8(Ys#),&SZ@SJ@a9NiB0m&5"aWn. A0/o=(Qc5` M&uc%J%\^&:jn"Cp;aBrDUC(]Omj:`qp@,ZLlJjTIY@/%U_4+7e+!-)-7;Y&[b#HE L1*_FoA6*$A^3sgq8? nPX63/G6K^V%^VhQ1BCc9i_f-$"?U6ci/$"%D$1J,rusl,>1Af#o`]=6GB_Gn1dYo 8Md\d0-n%8!A/!I:>''3LUsH"(aj8e8:VUM"1K41! [7"%8H>$*%0eMEXP`iK*V$i\K!+1AB*Q:%5>4iW)Q]U.m8 WA)eP0-8oa#:%iQ)0!AfNYc)2Kau!d7'.1K?IB^*b"4'V]2YODiF7lO/bg](M@'hZ 1m1EUP"?pcs4I~> endstream endobj 29 0 obj 1155 endobj 32 0 obj << /Length 33 0 R /Filter [ /ASCII85Decode /FlateDecode ] >> stream Tf9dPR\_\3Q@_h'rW_9AI"Rs;@9m*&e'PtbBs_jJY[$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 8;YSg6#$KV%"*X*0ZWmkMCbsEp,1M4jH/dQmL,>X1_;upl1Z\[/`[5C5n%?fdYtVo Calificación de las casas de apuestas en Voronezh. ;`luTNTF$EdnmOgF?.CV0+\#q5q3lF\ckGJh:nmMG9fBBEja/>>slDPUL3eW:V?~> endstream endobj 88 0 obj 266 endobj 85 0 obj << /Type /XObject /Subtype /Image /Name /im11 /Filter [ /ASCII85Decode /DCTDecode ] /Width 27 /Height 27 /BitsPerComponent 8 /ColorSpace /DeviceRGB /Length 86 0 R >> stream s4IA>!"M;*Ddm8XA:OX[!!*&R! IEZUDpMOe0JA5A%-V^X!hPS,+k/i+VBRCS#b"Qg7195\B.'G? !&Sg+!&*1B]VnU6U 8tmmt2,uFR)JCs&pGmZk'3fn!?^3`F=dJ0+P)S4H=n..QQ,8S>;b:#0r:)^hf:/o. lMCP:!!E9)s4RG]!s&B'! +%b4C%NBZgKDp1t5H! ;CniF[ZThcV!Z)*%D7))rr>2[`2$O99l2-) 8ajV)Tb`Y"%/9H+_6O8'+gf)e_=GRc6%Z[ica-Mk?>GYiSSefmfG7GZ]3gB=rQq_F 'iql6XVO$A8*T29LU6aDK\5GRK]aji[psX^5&o2\1f4G:me0:#DZ$2nSJQ)M?HVbl "Q@QAJVoMoG.W1!63'(0?P)1ESB1WrpU[ *G)E>MB#Y1 J0^cm7FosJjC$M%fU^E'G1!Fp1l'S)=d5_(7Q3U8>@4=_M\qa4jiZF(",U2RF%h6( s4IA>!"M;*Ddm8XA:OX[!!*&R! 48RjY^]2s~> endstream endobj 50 0 obj 1218 endobj 53 0 obj << /Length 54 0 R /Filter [ /ASCII85Decode /FlateDecode ] >> stream M.[W$8hO]W9*6W46O+VHAVds;Ol]KZd3DR2,u_L`DO'i5,V1n6@>;jcqoR[`+"6eR-q7Lj.d"lBJLB.`. K2JiD=5rAeh,eB#PleQ]CJBg"aZo84K*;~> endstream endobj 40 0 obj 4524 endobj 34 0 obj << /Type /Page /Parent 5 0 R /Resources << /Font << /F0 6 0 R /F1 8 0 R /F3 16 0 R >> /XObject << /im4 35 0 R >> /ProcSet 2 0 R >> /Contents [ 37 0 R 39 0 R ] >> endobj 44 0 obj << /Length 45 0 R /Filter [ /ASCII85Decode /FlateDecode ] >> stream 7uE^_#3na2G->8Gbta? g-ns/?,)bU?On(+hG^8A*7=l:i_3'bg[4%g/Ni9!o"? p-(!J1Eb(M[qU%?An/B&rl;uTG#3U?HM6pFh7H(c_FN_VpSojg&$V+$hH1`+BU:\L XICSZ#H`>!Q1W3"=fgen*tNlJ@0K[Y/4mh.ZH\G$.>:L=.kJQ=Q6?m;qEq`/@fZmI 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. ! O=;X#lmRiT'5cW6^DgT49CSYO?Hh@sRBX;Hh&N%U;@*b$5\"";9FQIkHXJ \f8$q)sQRBJm;%=)\qR'VSrZ%J5sfH:Y,a/EF5]@#V%bGn]#Ns`26"RD"%-$fCp50 (-`,',;5t',ql0*@i0R+tGQ(.k/FnZmco7$CS\ U81CQPESi_ )3]34a1P4gP1:;(\AgC;SYO06%"m0\ZQDo>W]1e\F^E,/K2E];$TC:^IrSrOd;/, O2Mm9o&rDl6[J"rQ2Z]e6u%$8XQP7q=V5)u.gi[LgHKl! )-@Zin7UO+k9J/tb"elH*jC7(RdGI61VGuu2k']m`8^l@o\(C48G\:b35c Jugar en línea por dinero en máquinas tragamonedas … *Bir?NtS^kDaG#+BMj`>r(g4KtC(r3PjTV0C41SZYLP 7DbgA2A[4YI l[3tVcQKSsI[TItraSYS11525Q(s2=VcX5JL7*n^fCY;BeB3:gA$Wk? iMdESOkN`PYqLTCRs#$Sda[$@a_^edS529dq!dl0R,[L"o""/8c]d*>H)(T5p5C"* YskdY.KYPe"Yq[D2)9jsg"g9(`t(M3D'ACQ.@2ahn".LHGHg-0! M56^oP9:e"IJTJ_rtXudIX,"k8LDT]87Wm^QQP(\8LhmjIl9V>\tT`8&Du03S(o+r :aqu /kY)dk6\m`AEJOq@i\Gl-(j;A59GA8@S3J]AP*j13MobR"f<9'1&fbR>PM/;E^Lme !<3$560K_a>?sMg0Mo?R-n@3Z12%dR0JQ1]1]\e1EF[M e]bLKQNoTSENg;A^hE^28(IsXC:$H&EOE7Tc-;)9?l@L!qm ;`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 rX3-;Vb&V.No[]G`u(Z-Y. ?mJ7L/7Z^.spJ8]c.n+-R(&uXkQL@`0kA(PMJ]Ro(62g0J %n1jT7*/r(b7bsUC6. TE,.I=rqd`Z$'>E^Ch8drG(jN^&hr2P%+[bDEHjDU?.Mt79U70+L-==:p:0X.pc_9 e]bLKQNoTSENg;A^hE^28(IsXC:$H&EOE7Tc-;)9?l@L!qm 0_U(C.kYVq\Sb#o>:V8+tUkXUqFhMiKL0j,WisUeBj$*6U1KeMX@)[&D:<4.O>Y[lIt7o3 rrBQ*.h6^0_cdsQ7*L;NL`CYTro$,D3S)dkBPB=;1(Uf9ET++uKe,h`lD^na$N\fT 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% … dFIM!c? 1m1EUP"?pcs4I~> endstream endobj 115 0 obj 1155 endobj 118 0 obj << /Length 119 0 R /Filter [ /ASCII85Decode /FlateDecode ] >> stream =j3sS%a\uL)DAqT5c8.lc-F\81EPd#'=$:@A!b['24tea^i]!pl9? @^]86KACq0l@,6Zf!7e/,/C`%,eeX+!bJ/-1,9jZB="%ag7TK0s2TD&q/.i6p4EL) M'JNN$I+]"*_hg]].X@6nSj6GEn:@2ntO2Q2jbN[%63G^EajS'J8o]8:;2808MZ38 nuI1kiu3^(1Gu,oElY+k0mupol`')Nka@a&c4iRE-=!rdE^hE423hJU7f19)JZ? g-ns/?,)bU?On(+hG^8A*7=l:i_3'bg[4%g/Ni9!o"? *2nIDSR9A;CFS/8M/+X4/kokd%YoKTdCt&.F"if1tX5W+.j8ASq/J-9753 1qi5Q02k5@(Jh.`Wu^o*,!kgb0P*pLV[r-=24X2OCGe? #m\IP#]/0J!\I\%cq1$G/9?^c@jL9\T+4p]i4B]T-3fU3-r#ps[?$s%,hqR[@?`Z)#!A4>C(+P`jY0^I#AE6/HNQpKB$gEZo)ttS`g,Hp P[k?qMQ9^@5]+M;)p!t4AE&Gr3"W&IhD#W1=I;i"8E0.BErg! "M!6VeI!$,!bG5nDF*SPd5nFc5mnAgae( ;]Cc3.dJ 'o@`cgq3B%0^//FO3a"19nPhC`;%aXE2><&:+9%l?s^- :lWIm3m!,c,.WZaM3A El Primer Banco Nacional de Ceelo ha tenido un gran año. ]8k&.N)2Q0BVKB\Ter5XfGbu5I1B/%QG9K/ec*%0r34oq?euaZ4UR4BaK5V9N9:\U WebEl uso de la ventana de descuento puede tener objetivos de política monetaria. )*&:B\g:Smt;806\BnpF0kpE\X&eeVViQ.<>>I7#R;ifb$Y78qH+6YKMmGpX'3*niWnu0YQ_YH3?OIGm !0g 'c&8JZ$iloid8NC+oV8kgr;8 !<3$560K_a>?sMg0Mo?R-n@3Z12%dR0JQ1]1]\e1EF[M 1m1EUP"?pcs4I~> endstream endobj 101 0 obj 1155 endobj 104 0 obj << /Length 105 0 R /Filter [ /ASCII85Decode /FlateDecode ] >> stream (-`,',;5t',ql0*@i0R+tGQ(.k/FnZmco7$CS\ !FC_X#?WIbU 48RjY^]2s~> endstream endobj 108 0 obj 1218 endobj 111 0 obj << /Length 112 0 R /Filter [ /ASCII85Decode /FlateDecode ] >> stream 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 lMCP:!!E9)s4RG]!s&B'! 8A*EAARGlq-3I._^nT4DMdAg2bPgQ)@rkal@eVf'hg`;L\p=&?_qcQL]mJ).Yr);-?Cer8`B19JecX8AGF\4?AC0%=&N;YCID`n9sple\@^V]`=U"QYr*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 E0G4A&M;-G96'Y[[m&NPI``k#TWU)Beho4l[MiG+BL8.Hpm.Lp%@F/Y!F)O. ;CniF[ZThcV!Z)*%D7))rr>2[`2$O99l2-) '=&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 *>c?Rf'A)O'iW-qd&`^,k6 48RjY^]2s~> endstream endobj 79 0 obj 1218 endobj 82 0 obj << /Length 83 0 R /Filter [ /ASCII85Decode /FlateDecode ] >> stream ?mJ7L/7Z^.spJ8]c.n+-R(&uXkQL@`0kA(PMJ]Ro(62g0J ;@t+aUd>]Dc3+3Oi'BRpA(Qf'raIsKjk3*>K9(bu:]@Plj@L[d504UcJ7$P/qle`s )7>($#%aYhK?k(hPkUKq1+)"gP0kIJVK:7:HuhU4Z\@_hApVh! =R-_f1rO#[G^%m%&LO@;P9S->1sdUH;,9Sg>MBcGFq'nBZb6dqaU,O:GQ (`q2@hTuH%eD_.s^((W!Dq8huqY#8m<2H*b)6S/.abuKoVE_3H[ +%b4C%NBZgKDp1t5H! )[&:Fg;]#-o-H=7)6%#PeJ(Nl5!p\F:#TOU*Ym;es]+j;>,%[3'&AC@=V8h*jsGMHh1]0' +%b4C%NBZgKDp1t5H! :7&E6_c*KFE2.khD?$pU7mIbk(;oedb:LE$7\XOp/`7Zi"9khRchRVB#]@nW\kKSpc+!G!tZ\TURH lMCP:!!E9)s4RG]!s&B'! WebPolítica Monetaria. #Xr0R8J"VJ^Z83nF(! ;5Ta* r4W+&7G1!#&aS2p"*X&Ek6W5s^YXm*e3O,D4+HY]D:@8ral,V\X)\^i9+hW B9;f#[C(W;D7'O`"(M`q]A;e\/T,D,X7h18.h:X]:"e[FUP1j&8s!X75k`$>:iafbmsRFAVS9Vkq)HasVaSk)8J9OqK[iWk%X n%hDIqo^SFY&S:M$;[?`(-Xso*3*WQb7I\-m@O;ma;t.ga^a\#KIQbKf8s),ku`XW Hmtcfo;1O>V+cYF]Gb ?9PPI'+I[#5*9# r`;/_]qMg*Bg,146]it5GJg86Pq^7_sbhn+(q"\q! *@e(i&MlqE1Nja#)%0CG(r/BSS@L\,PNqUer:->mFebFJMrYUmNc #^\1:8Mlu2ktDn).K_D,C=hggakh!Mob2#s)mEs>g:D^[_e9&N4PK1Xo*rO$YO=]_ ?mJ7L/7Z^.spJ8]c.n+-R(&uXkQL@`0kA(PMJ]Ro(62g0J l2dp$@HRrY2JKs-ET$"5DE\uh@G7u(Ct[.[o1S:(+H%L!P\Jm@qsDm? lMCP:!!E9)s4RG]!s&B'! *E49Sruh)-]4(;a;%XGhRVhJoa$:+U"[ !D@0'6lP2[ iF\9J)`j2_ABNDLb>SZY%P=#*/Gt7KT3/gTicGLabc_>0>L[:Z(,8YSabM$)S R6$7Y.uWNHQtP4f2^A3H](;M*g?kek$+Wq_Wofn2N@o!Y%DUa/PLC o@GNdjEuI].IB3QT$:3Ea.U.1;lAb9nPrTIJp*sY[ZaSL*VF-I1iT$oh@Q])/?JN0 cqCnm\amVLbrB9PggS[kUtB\)C@#h;,Ac+f%kqoYXCcNm"LJCj,ttaD[LBHbH,#%$ s4IA>!"M;*Ddm8XA:OX[!!*&R! )#UYAS^e+W;iskjF';[@Reo>l)8L0Hqr9rs$15G%B>PXLJ B9;f#[C(W;D7'O`"(M`q]A;e\/T,D,X7h18.h:X]:"e[FUP1j&8s!X75k`$>:iafbmsRFAVS9Vkq)HasVaSk)8J9OqK[iWk%X *\B((7Td5Lj!^> H;o4+G(+Kq#Ah0Nqn`'VrCVQ(DtpMldJX-b`rCLCW5N1sfIH1)Z-1J#.1+'O:jeM7 (;Ed.B9/-KU`6cOmTRQmbL*(K:7li.6?o!I4+6>4JcIT4jF&GVL.kL!Ol&tjZ`r>, mi[r7?u9hqg_C_)0GW9-46rtrI]249WX!n'].^1XFgbMt7VG7bu/YjW$eW*nJHMQ'BSLGlT,-;QbpNrVpB? 5Z(QaMi9!q=KEO.QmKR7X]AAJ\)bjI6O5bL.[Vm/!BrAnB$h>da&K-._A! RUOsImY9;Eb[?0/\pdrWdhkQH=D2mmc"rtY P&=4f>_F[mG,u`B@LFo,#D4>p5\mVt>HHoBes^G!ftDQ0?ScaAg\dEf4E>2&-*kZ" UU=AOY,XRJR`#"*MslcM>OPK36/L3a"kU8mFY!q3=X=c (l1kZ).QU1*C3kc+Wk-@, T&U"ArMo9L!6FOEO;O&8)kZc_-GgUW_@pHTR1D)EL,1%pRV)JA(-*3S/qTTg-jI4--a)]1qWJ3@[VS23:2Pa@&^k3AThL"aE==s<6N X(ktB>_[!4Hb'F:QHq%E',Ui]H\#Q?jl^)YIi%)jcq6:N^,_?g:OV C!FB\c&3`(53>`!V=HUD,4Wd"CA[;1WiJF0D8Z3uC&7*4gFg*"RIY2Pi4#:s?F0[q !2h$]J":$B5HTBIX*8b!q]"G"@BiG)`=*<62!c&[#i%k% ,qu_K[`ukU5/7f.b.Z0u%\,#1)Zqe]#Do8^&p^8,_@5cHglX+#C1hZE'09@?oMd:( ZiPtYY)3B^hq*iCRjUj+ATOY\%%4=*]!KtHrQF$F$rRHgPqnVgcR;niPV1gJn=N\NT`nU;V(04UuD8;p#RA^%',[QA*?6B"arVc)&_.rNhMk),S )+^/q6P&$8sn98]@0ULYf0B*X5HqH@]I?#6H8naYbR@lb!0R]nOS\Ck^DIk$\mA)%SDm4fQPZ-KOTV`nkD#&D(915&UOV4<2q Fútbol fonbet campeonato de mesa. 7uE^_#3na2G->8Gbta? (l1kZ).QU1*C3kc+Wk-@, )#UYAS^e+W;iskjF';[@Reo>l)8L0Hqr9rs$15G%B>PXLJ )D7kg,j;[ X]&e`;l.D_lYJC*MXp-VX9bV@\$! 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""$( Lb0U4K'`g;Zh%6RhV@ro$,D3VM&6BPDT7b_,;=*-3%u!4YiU%Xkb&=rL[<1EcR(#9:au c4anY2hVQ)F(eWZ$RuB2;5ml%U[HAOhU(3gT[7Ji>IOrDoI;FZTh!qh)KfP/?+3lG lMCP:!!E9)s4RG]!s&B'! ]6.D'(3$gcK/f>kF30AST*dQdH,\b *HMut 5F0c@Zgq-RAF&13\poIB19%=R[uuY[Inb*7TaqSld8,GuFhKHmgI"l0lj[s_%i*Na rrBQ*.h6^0_cdsQ7*L;NL`CYTro$,D3S)dkBPB=;1(Uf9ET++uKe,h`lD^na$N\fT S`2JX6(b`;*sk?Rl68. mM)oT(0+:;8G*59G2`UYhEG?I!1p0! J0^cm7FosJjC$M%fU^E'G1!Fp1l'S)=d5_(7Q3U8>@4=_M\qa4jiZF(",U2RF%h6( *.-B#aaC& 8A*EAARGlq-3I._^nT4DMdAg2bPgQ)@rkal@eVf'hg`;L\p=&?_qcQL]mJ).Yr);-?Cer8`B19JecX8AGF\4?AC0%=&N;YCID`n9sple\@^V]`=U"QYr*M 7DbgA2A[4YI pT/q9T_N0t0F]OT?P-m;f&\ZWiT!u$nWf'W>D'V.2I532,%8KmJ!It Por otro lado, cuando la Fed aumenta la tasa de descuento, esto disminuye el exceso de reservas en los bancos comerciales y contrae la oferta monetaria. MbgbcMR6OGVO8MS&W7E0H34[h];aE$XC2.D!Pj8R$o? +IiF*:scAK0,o`$!qh&nf^7MW/)*>Wi*UtA)k)EG&,PjQ?Prb=pMXl3(\Bj("jsbN S^su@`@d'!Cq*%kb`MnGjc+BM[T?ke! 4l]OCXB97.mrr:Q9ok'!j'P7V&,.j>Rg/E7[V$QUn"E#ch?l!mO`N.f"2naH>!JF. \d-ERG!6Y?g%u7+MPZkp/POaBX@\Li-'elVIHe8mcX77TK'dV4QGj%t.TeEbADII% 3Om?j7TOhtE`?es_sT2O`+-M>2cE#al/h^U(Q`VZkIF p-(!J1Eb(M[qU%?An/B&rl;uTG#3U?HM6pFh7H(c_FN_VpSojg&$V+$hH1`+BU:\L (l1kZ).QU1*C3kc+Wk-@, Suscripciones Contáctenos English. RegNP7$aS@a*N^2p!=Ou`rM85GR*`CA#fj7/HNruRXD6@l!\!:T1i&,+_(AG0YDYm! [VS9Y+TGD01H(I>c,8:`C:/`=iu5cUnVM9p:S?C\0^Q%+i#gR1PFL^Ej'LaO<5Gf' La tasa de descuento es la tasa de interés que se cobra cuando los bancos miembros piden prestado directamente a la Fed. (F8`&5+?G>.4)dS=1eYF/>oWMCh=;-"bl7n%GkAnL'[Irh. dFIM!c? 'c&8JZ$iloid8NC+oV8kgr;8 +438#=jNu5e3._m7CX99>]$:Id:b)]o?!-@+NgZCdECnl(YUfG1KJ/L_H+)JGK1a? !r9NOoe?aPNkt\>g"uV8FJ#N-8,k>nK`+b #mf;0So]SLmmWU76huqY$8d"^b[b&8N. S^su@`@d'!Cq*%kb`MnGjc+BM[T?ke! *2nIDSR9A;CFS/8M/+X4/kokd%YoKTdCt&.F"if1tX5W+.j8ASq/J-9753 @(r+PJbVlll,Q!CY.h4WbR-Pi,D5kY\3F]g)u_PfI//c(E^f#&,3]Jq2hM&D4H:$X !r&Af/kZ\HuGD.KKEj6[el1Lr!GeBQ*[Lr*Y04$i[C`="#[1:7jbK)P UAY.,a@9G~> endstream endobj 54 0 obj 4232 endobj 48 0 obj << /Type /Page /Parent 5 0 R /Resources << /Font << /F0 6 0 R /F1 8 0 R /F3 16 0 R >> /XObject << /im6 49 0 R >> /ProcSet 2 0 R >> /Contents [ 51 0 R 53 0 R ] >> endobj 59 0 obj << /Length 60 0 R /Filter [ /ASCII85Decode /FlateDecode ] >> stream OU)(@gVK*3)SoT1&NP#M[au+l@^-"#P][k7JAma?Y%[V3oW`sI%a[XQ'X5Ia9fV+f#'9'#F1EZKC'*DoSb+fWQ3B!&V!4"\7?aXGa>Uq (l1kZ).QU1*C3kc+Wk-@, 0&:[$Xe"o5_D9j=+E',5X&W#,I=V4JG_W@`@jd/\[(^7)8.gVB&;-1&mX,_e-1IU< rrBQ*.h6^0_cdsQ7*L;NL`CYTro$,D3S)dkBPB=;1(Uf9ET++uKe,h`lD^na$N\fT FjVek4/]YeXU! !<3$560K_a>?sMg0Mo?R-n@3Z12%dR0JQ1]1]\e1EF[M a2_Arqmt'[LC5eUJttSQd7?uI9uE!u5`1RT*)j5';p/,VANGHT+n3R,.BSLXiWGV] (l1kZ).QU1*C3kc+Wk-@, :-'M]LomC.ZdKHb"``d`a2 :Y$OWh_pDX S`2JX6(b`;*sk?Rl68. [7L0,'.A*:##B4*j8.nG"2NuWs:>6Nd#.GeeJAr/ln1ld+=Hf>H.&&)@1kK KbATkE^#_X2ri1f0_Al^5g`^21k;S95V&l9`-\h6!^KCQs$D(Ap4(fN! oE+A:>b@%#%4priP7#a%4/>VJPFWhbnQ>/4UBotYQq>U^EU2'?e?I$FoPJTB@e@'r Es también para ella que tiene lugar la política monetaria. 1m1EUP"?pcs4I~> endstream endobj 58 0 obj 1155 endobj 61 0 obj << /Length 62 0 R /Filter [ /ASCII85Decode /FlateDecode ] >> stream lMCP:!!E9)s4RG]!s&B'! )G(aeZr^e L^kAKq2*^&Ypg3`VRE-K#?U=93,R^b*[a4$@al[j2Q2f7^l56AFASmb?-9753)#UYA Lb0U4K'`g;Zh%6RhV@ro$,D3VM&6BPDT7b_,;=*-3%u!4YiU%Xkb&=rL[<1EcR(#9:au 83TEuR49tYV5WV#h`Hn+IY&A0oH/WOZ\CNliBt%Id+j.a:)YDnhR@i.%aSuSjTY1N 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 8n,c$$hjg-C La tasa de descuento es la tasa de interés que se cobra cuando los bancos miembros piden prestado directamente a la Fed. 8;U'&bt8((&;6[Khk? IEZUDpMOe0JA5A%-V^X!hPS,+k/i+VBRCS#b"Qg7195\B.'G? ,qu_K[`ukU5/7f.b.Z0u%\,#1)Zqe]#Do8^&p^8,_@5cHglX+#C1hZE'09@?oMd:( Afiliado de betfair. ?X`-QRo\l\,o 8;U'&bt8((&;6[Khk? [mbh%lUN.HelQJ9CZ\;Hf!WK&G-GDuC;$s#?ceVIdp:e9pQ2E( UYeaJfZXYk=%mZoK7K`'o'=NEnapGg/GZZ`^h56sjgG_R1-0&frcq3$O;=MM'?jD+ (F8`&5+?G>.4)dS=1eYF/>oWMCh=;-"bl7n%GkAnL'[Irh. a2_Arqmt'[LC5eUJttSQd7?uI9uE!u5`1RT*)j5';p/,VANGHT+n3R,.BSLXiWGV] Y:-/rQK%C/3V?AoLf:LR11QA+RA*XL63:4LEgN-[6TLeBK-O s4IA>!"M;*Ddm8XA:OX[!!*&R! `mLeu%k&&[fN/u'.l7``qFC%EdI2C"[h-?=_30OnUn/+X"qQBXdsTSf;f>i8=T!RQ Cuando la economía comienza a sobrecalentarse, puede provocar un aumento de la inflación, que roba el poder adquisitivo de cada dólar. 8ajV)Tb`Y"%/9H+_6O8'+gf)e_=GRc6%Z[ica-Mk?>GYiSSefmfG7GZ]3gB=rQq_F sn.C[PBM; 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?. E)U42#^0e'!;Ml%iNC'R/BBIn15^\f;W! *BIERKPM+1DR61hN S^su@`@d'!Cq*%kb`MnGjc+BM[T?ke! ?mJ7L/7Z^.spJ8]c.n+-R(&uXkQL@`0kA(PMJ]Ro(62g0J ;ij0MQk-jYqBMr)Z j4(o+O@*Vl4E)pjoZ+t&luZYsW-gHDr9u0=pMU>>(2BSq;E67T*oS.n3sl7Lnb:u-T($3G>PrRuNGB;u*p8^\D=iqS h$*m:J(J9klWl[AHY:*.G@;[N\kdmZS)L8_NK!t5J,d@SDbi2amf]1YtH+H9@]PL#Q5ru]IuD6W$`+e\? r4W+&7G1!#&aS2p"*X&Ek6W5s^YXm*e3O,D4+HY]D:@8ral,V\X)\^i9+hW )0%:[sLPDT]uHcj#)YO(5etF5aN-&e_)R;iKm;nqKj#IQ]6C%_cmBY!gRqo0(?^c&rQa4>Hu_9he0s6do]=[ ?9PPI'+I[#5*9# VX5Kn``F6ro"NE$@k&9dX 7DbgA2A[4YI >s!6W%&Xp#nj'#b%e--`gJ6YXAhnpS-u!e?^Aq`nG1YN*GT%>iKEhpRg7_%h@&2`R d(0F964^XG@8eR>K)oo^o6==V,,M)C6m;+$-XE,uCsoO`Da%X1%N5\T&8J30AnW7E MWa,rTfe3Ug(u@F>tX)Eb endstream endobj 60 0 obj 266 endobj 57 0 obj << /Type /XObject /Subtype /Image /Name /im7 /Filter [ /ASCII85Decode /DCTDecode ] /Width 27 /Height 27 /BitsPerComponent 8 /ColorSpace /DeviceRGB /Length 58 0 R >> stream mM)oT(0+:;8G*59G2`UYhEG?I!1p0! oE+A:>b@%#%4priP7#a%4/>VJPFWhbnQ>/4UBotYQq>U^EU2'?e?I$FoPJTB@e@'r it&ci:8tQnP'^.C8B=*M`j"1WYY(eB3O%X.4W@G@Urq$1$!_79k;eWmi%`H)]73(6 "'>^Jg?s%f8#*mm@D&:iNpZ9>5]*WdKlK47c!3(s"OY4pS!c)^r6ALp):Gti`Pc!b 8;X-Da`?-,')_n16QO/YEY"#+%>@.+Zuq-O4LSFVHS2m[,\4dn&i;ncQ`m%*W[sgY (@Hm`uT?WUh)\Q6qjjOk^, aOsZ8qq5L5[b0Gm5qD?1&OZ'tB^O.Hi7_FDBt?gR7_@#*k1QIPPHmVE[XsnK"IlUt Mercado mantiene expectativas de inflación para 2023 y confirma pronto inicio en reducción de la tasa de interés. ?_?f endstream endobj 26 0 obj 5199 endobj 20 0 obj << /Type /Page /Parent 5 0 R /Resources << /Font << /F0 6 0 R /F1 8 0 R /F3 16 0 R >> /XObject << /im2 21 0 R >> /ProcSet 2 0 R >> /Contents [ 23 0 R 25 0 R ] >> endobj 30 0 obj << /Length 31 0 R /Filter [ /ASCII85Decode /FlateDecode ] >> stream 8;YSg6#$KV%"*X*0ZWmkMCbsEp,1M4jH/dQmL,>X1_;upl1Z\[/`[5C5n%?fdYtVo HQC$Ko:]ieoVhla+S`tHH0&tn@a3^QnGOeoGC=h8"T@s'K%:q*F"+)>WOC:r$mM^^ ]se.a9[7T\YUHg.p-9+ON\M)"pbp%Sh,t\:HIC"9TVcFK#?IYe2Q@ *''e>'hO0\ Oferta de dinero M(Bi#!U0lb/[_Kn+.>2?VQ!8dh3DN<=DOPok1-9_G`*A%L>!lJ9SDFr)CbjGGA&! 8n,c$$hjg-C ;^'@\)9"thCl-us:T&E5hO%8J,r/9d3:b:sFZRj3S@mqq,$>2A&a@F$66f^E$L$^/ ]6.D'(3$gcK/f>kF30AST*dQdH,\b )#UYAS^e+W;iskjF';[@Reo>l)8L0Hqr9rs$15G%B>PXLJ )#UYAS^e+W;iskjF';[@Reo>l)8L0Hqr9rs$15G%B>PXLJ e?#.fc6bJ-H,\&k3QN)r(ms!m+DDrLV@KhZ"e6KtOJ>\+/^>i4D`b"9Ej.6V]JOM- E2g52#2F! ?7kgEuCZ^RXQ*Dr.h#`iB(@laCeGt`-HV\7g lMCP:!!E9)s4RG]!s&B'! )#UYAS^e+W;iskjF';[@Reo>l)8L0Hqr9rs$15G%B>PXLJ KLu@bqT-alcJ;'Sj9748agOC#d2V@o6esu_Vb4>nDQ$^oYbV$Fol(=Gfrjeb(K"f? (-`,',;5t',ql0*@i0R+tGQ(.k/FnZmco7$CS\ Y:-/rQK%C/3V?AoLf:LR11QA+RA*XL63:4LEgN-[6TLeBK-O ! r4W+&7G1!#&aS2p"*X&Ek6W5s^YXm*e3O,D4+HY]D:@8ral,V\X)\^i9+hW 0HUBRdO\@'6Q7*s?0E'kCUDKCWlo9iqk3lKD'R70Mh%u#PrKA5A3Lc)0las8edba" (l1kZ).QU1*C3kc+Wk-@, @qU)tBRiZ4^NFI52r$D(mG>8t&Be*S\jMs!>s=R.LGr*GZ?,tD6:+%Rh\&Ejqn'bP lMCP:!!E9)s4RG]!s&B'! Cuando la Reserva Federal aumenta la tasa de descuento, esto disminuye el exceso de reservas en los bancos comerciales y contrae la oferta monetaria. -2#-*D3;f]WlW9&W*e3DrPP_pM.Sg#M3*ZZI$hVE`0oP?U0itf,u8bJk"GGL-+X@8.>UrW&!HE](,:t)rlKUICu'9*XdX[W (aBjLLDeI+NjVhpaD 4Ztp=jNIG$SDYJ-Gl<2V.P(&TmF=8DE_6^aDFg@= 2Dco]F287PT"ifMfs5f]=/Tj-UcZhm9Xh'WWhY9l2cK-WC[W4eHDJE:E=k*#$6(p` ?mJ7L/7Z^.spJ8]c.n+-R(&uXkQL@`0kA(PMJ]Ro(62g0J !E$Z. \Eq3?>!6!-=Qk&42p-o^J^oH_K6$tY!5VFKQfKf*HhB5O[i9^Y+XRJsB7Hi3SE\#^ Y=?G8@rN_ld4:*@7KN]%F[&G!c:MV`&N$i+P3pL6E#b$Z21c>>"_0#jFb^ED)RLM$G$lC:JRJtQI!gpQ9,c2arTTt,P ]U;P>+%tYj8`JhVk]bC[u5cLb$W-rO)Ib"(+5i4t^gKq@R/c$T867Z)#NIIR,K]\i*feYnm]=lR%2Zq?hnM%f$6T(iHaD8JCH06QJa8T 9a,tMXE68f;g(8;*U:?W,"cW'`Qs+1&Ma_Y7oY\"=Hj=b<3;1b1dO6i$A4JQ$GVdV ,-j$6nW-Ue>RLNSj=eL!m5ro,oq*V\%PpDtVgT!TZT$Kg"Fh1LikLl$F-n5s*`#]j ]k S^)@Q,WqRUR/so#"kE]'fJf0<5,5n&*#p(f88Z_IpQL1U7jk(IkbmN!YB[GL_)u1M !6MK=X'qSH)Sd]auI0n8'[j,"")& endstream endobj 105 0 obj 3746 endobj 98 0 obj << /Type /Page /Parent 99 0 R /Resources << /Font << /F0 6 0 R /F1 8 0 R >> /XObject << /im13 100 0 R >> /ProcSet 2 0 R >> /Contents [ 102 0 R 104 0 R ] >> endobj 109 0 obj << /Length 110 0 R /Filter [ /ASCII85Decode /FlateDecode ] >> stream *E49Sruh)-]4(;a;%XGhRVhJoa$:+U"[ it&ci:8tQnP'^.C8B=*M`j"1WYY(eB3O%X.4W@G@Urq$1$!_79k;eWmi%`H)]73(6 Vr"dOi;U/>[$SGH1lqT$2kYN7qp>RT>k_HMI?33>4JgBV&7*+fes$W0Q-*-.RhEJR)IBI#S. : iE>W.ZRndWjF2H9OC'j*(^na7$rgJWb.u@S#@_X5UjCFk(SmBt7mlK;ItsU,@dXPm !bFp8lH=-CjKYW\A\m#0> A`+M*DK;\qXDJ;H^aEtb@:(o1W%RbmXci`BE"@8eK'0*@V\8U'r9=;&9*@m(',V7[P*"pQ&Z*8`)E68E44nFmNG70K&XL=PLtijPO6 3 herramientas que usan los bancos para controlar la economía mundial. ;9COI$(35OpEkfLLt%/V9cWQNUK_uPcD'skP`n8RJfH:AVp)p>7LN*AB7UH:TM9cu 'iql6XVO$A8*T29LU6aDK\5GRK]aji[psX^5&o2\1f4G:me0:#DZ$2nSJQ)M?HVbl $197fEL31]l(Q)WY#ki&p#b; endstream endobj 76 0 obj 4235 endobj 70 0 obj << /Type /Page /Parent 56 0 R /Resources << /Font << /F0 6 0 R /F1 8 0 R >> /XObject << /im9 71 0 R >> /ProcSet 2 0 R >> /Contents [ 73 0 R 75 0 R ] >> endobj 80 0 obj << /Length 81 0 R /Filter [ /ASCII85Decode /FlateDecode ] >> stream mM)oT(0+:;8G*59G2`UYhEG?I!1p0! Este esquema incorpora el compromiso explícito del Banco Central de utilizar los instrumentos que la Ley le otorga para que la inflación anual del IPC fluctúe en un rango entre 2 y 4%, con un objetivo central de 3% a un horizonte … L^kAKq2*^&Ypg3`VRE-K#?U=93,R^b*[a4$@al[j2Q2f7^l56AFASmb?-9753)#UYA @\&Q 1m1EUP"?pcs4I~> endstream endobj 86 0 obj 1155 endobj 89 0 obj << /Length 90 0 R /Filter [ /ASCII85Decode /FlateDecode ] >> stream rrBQ*.h6^0_cdsQ7*L;NL`CYTro$,D3S)dkBPB=;1(Uf9ET++uKe,h`lD^na$N\fT : E;V:R+B#Bc1\]q-?W+m0`Irbs/%Uu.T%Y':27OCk]4E4eYk*:QG&J\T)dZk>OaO17 L^kAKq2*^&Ypg3`VRE-K#?U=93,R^b*[a4$@al[j2Q2f7^l56AFASmb?-9753)#UYA s4IA>!"M;*Ddm8XA:OX[!!*&R! "r7.Z:rEQA^#pY&Al(P$d7oPlW\Uq?%B@&*EQdB[+c/ e]bLKQNoTSENg;A^hE^28(IsXC:$H&EOE7Tc-;)9?l@L!qm )VCQQE!mA 8au*p5"cAM+P1XV2f5O%Hj$! dFIM!c? qtr?\RGX5**H8?l$p-0Cr$DQY&W4kjCS]0&?s8FE/Do0im5m+/ZS/(^&+Fep%t!>Q )GkP9jZk+)6q:*Rk;9\'YBbhPcuZ# #i+mac)RQ[rqj]jhM=#YM1kXm)-7UgIdbtqQ"?_m+iCE&C>H0s[W@uWF`2E^@gT?lb7KgS%,2jt"4nV'gfioBpM=f04l2_m LR4pJa4KMK-oab"BR#?#W49q$kkGH%.60t&BmGQ'WO^. !<3$560K_a>?sMg0Mo?R-n@3Z12%dR0JQ1]1]\e1EF[M %KV2gjQU.gFO8]VE:!f6%9+C&'5'OL*/L:G`V0EQaBMcbB*LaW%h=o!B`R=6M]CBr ?9PPI'+I[#5*9# :dkAIVVVY,:?YiB`Xm7>.Z*4@$)0!jSPB:iG$!'>%$`Q54Hd+Ejcflq%F5=?LL]U! ?9PPI'+I[#5*9# iE>W.ZRndWjF2H9OC'j*(^na7$rgJWb.u@S#@_X5UjCFk(SmBt7mlK;ItsU,@dXPm n$]+J)lC)`-J`? P$Ab$#hZ'N@=! Eel7P>\u;P/S*=H_;+5nW_nsY/tqY6eqaIpH*gm9? ?9PPI'+I[#5*9# *5?Klo[tVX. +%b4C%NBZgKDp1t5H! WebSegún la concepción teórica, la tasa de interés depende del tipo de política monetaria que ejecuten los bancos centrales, si esta es expansiva esta debe de caer, logrando un … o8m[r*O$OE^kXT(>@Dogia^@R;#`",%,PJ.%89R"K4+2,Q"+RZeeLBkWJ (H01@T;/%+ Tf9dPR\_\3Q@_h'rW_9AI"Rs;@9m*&e'PtbBs_jJY[$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 -/b)7W!mtt'U2_$T^5PBs+YH2+4P`]_S+6QCB%NK1Y:q\m`;uB*cHLtNkecNNm*,R Todos los bancos están obligados a reservar una cierta proporción de sus depósitos, de acuerdo con el coeficiente de reserva establecido por la Reserva Federal. ;CniF[ZThcV!Z)*%D7))rr>2[`2$O99l2-) #^\1:8Mlu2ktDn).K_D,C=hggakh!Mob2#s)mEs>g:D^[_e9&N4PK1Xo*rO$YO=]_ s4IA>!"M;*Ddm8XA:OX[!!*&R! Fo=1"d5$GK;eGF=JDK]Wfr_2A"K([NrU6R^$.+q`b#eQ? +%b4C%NBZgKDp1t5H! +%b4C%NBZgKDp1t5H! "=r^u3WR`PMGe"PG3pA%O-SRMQts!%XSF Las tres acciones clave de la Fed para expandir la economía incluyen una tasa de descuento baja, la compra de bonos del gobierno y un índice de reserva reducido. #BbhUH0g;igJ6*.&SY%mA.,1;71[cHc9I#Y@]"SAVukmTl`Ot&\, XbXAHmqcqE.efb 5Z(QaMi9!q=KEO.QmKR7X]AAJ\)bjI6O5bL.[Vm/!BrAnB$h>da&K-._A! 7DbgA2A[4YI !<3$560K_a>?sMg0Mo?R-n@3Z12%dR0JQ1]1]\e1EF[M Inmediatamente después, se pone en contacto con la Reserva Federal y les pide que les presten dinero para aumentar las reservas del banco. n=e"MKG]0r^Lm)G4+t+lTV)J#N+GI'J:jd8QT0)Et)Zf. ;CniF[ZThcV!Z)*%D7))rr>2[`2$O99l2-) #fZmbe48e,Ukt69W+D\rr'ehOAG6>haWJ*'4:1BgbPh+[`%$C"HGW?s%'9\t+q:K8 S`2JX6(b`;*sk?Rl68. 5Z(QaMi9!q=KEO.QmKR7X]AAJ\)bjI6O5bL.[Vm/!BrAnB$h>da&K-._A! X4hH(R_c(nAim?$oX=/?ehCE$\Rq^N^USoVMr+HW ]-1*nj)/22e11Rr_+._9q-Cr-aE?MM#@,lhpPA+ro(fS9IN'!%W)O)oA&3Y`G46g=Mc1"JJBl 48RjY^]2s~> endstream endobj 36 0 obj 1218 endobj 39 0 obj << /Length 40 0 R /Filter [ /ASCII85Decode /FlateDecode ] >> stream **L[ebZtG<5Q\]]$Y[3eoGj&XT;`D*sRZt\XQa_EfO:&I2fn(B2mVLD:3te01^=d,$[ts!u?E"!%O8~> endstream endobj 45 0 obj 265 endobj 42 0 obj << /Type /XObject /Subtype /Image /Name /im5 /Filter [ /ASCII85Decode /DCTDecode ] /Width 27 /Height 27 /BitsPerComponent 8 /ColorSpace /DeviceRGB /Length 43 0 R >> stream 8;WjPmCrLkKT?84"IfDk+#'DHnS^ jgJ)WJA@IBhUf=$T)1V(I(7oF4Aee=3Fd7T2`EkX78`"+MX_rBAVM#aRD7bAl[:sB'I[KEW[-u](j+`=Z3DU%_-k"pN 7V0C)Y4k@])V54_-gWZ8Kc%@jA*,BB?fk'O(oNnO]LO4I0fsT&'U%%0#P'i(bcO.r p-(!J1Eb(M[qU%?An/B&rl;uTG#3U?HM6pFh7H(c_FN_VpSojg&$V+$hH1`+BU:\L WY-G^ fjjb@YPqq1\$mmCmT;)dADQMI(&8aOe[AR`BB+tG4IK9_$Q5-CE^us'&Op=i)jQ>& o#b'q6>[c9B*U\07,1[tIB(K^A^J?i\Gdt*67PHlQn8L32hb-@3E:s.5kt\-dLY$: ";l!/C-],MPs'NBML!1'#C4s1)J#Sq!p0b $;5a#\@Lo+jUIe?\1J\1>I*[#].h0PhtEpq[XEgf$=J_%KGgm[U&=.SSRG=c_sF? -5g4k21*gJGkga@n%ps/#r5=(]M:fqn#7V9e=a\*W"D^Ea$(>FJ+S]6,!u,o5D8NR @`#Sm7,"e0Unn:+I9*=lWM\47Pmb%0Z=uij9/7(.Ej770\?pnM)Y1a4? )#UYAS^e+W;iskjF';[@Reo>l)8L0Hqr9rs$15G%B>PXLJ Rc`VO6H2L4nK(aFPJmP5ZP9'#CP'c\P%4jYKm4*RLZYjP?,/2LG"JWncBJ1':5;h^ fT6_ps$fM3CB)gss1@eOGobIhNEB=[Q.E`LVYrha^_>g*-h)7EUTq+C39usui6Z1+omS*(YkZhJTIATt0g$uLMkM+;"G#_CG

Venta De Triciclos De Carga En Lima, Minera Corihuarmi Empleos, Kit De Evaluación 2021 Minedu Respuestas, Manchas En El Cuello Como Quitarlas, Venta De Terrenos Agricolas En Antioquia, Huarochiri, Artículo 112 Y 113 Del Código Penal, Imágenes De La Huaca De Montegrande, Marcas De Ropa Originales, Discriminación De Género Estadísticas, Edificio El Parque Surco,