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Economy

Economy

picture of productivity work labor market uruguay office resource bbva

After a years of steep deterioration, Uruguay has managed to partially recover some of the ground lost after a historic fall in productivity.  Despite this, a person working in Uruguay today reaches an average productivity slightly above 40% of the level they would achieve working in an advanced economy.  How is this possible?  What can be done?  This paper sets out a potential explanation and suggests a line of action for further progress.

The European Central Bank (ECB) yesterday has announced the outcome of the final auction of TLTRO-2 (targeted long-term refinancing operations).  These long-term financing operations aim to stimulate lending in the euro zone. The demand for additional liquidity has reached 233.47 billion euros, far above the amount from previous auctions and market expectations.

The key to have the best professional team requires attracting, training and retaining talent. Aware of this, BBVA Corporate & Investment Banking, BBVA’s wholesale banking area, is announcing the fifth edition of its Graduate Training Programme, aiming at recruiting and developing the best junior talent available.

Mario Draghi did not announce any new changes in monetary policy at Thursday’s press conference, but the latest European Central Bank (ECB) meeting did lead to some updates. On the one hand, the ECB is more optimistic about economic growth. On the other, it is raising its 2017 inflation forecast to 1.7% (from 1.3% in December) due to growing energy prices, but it barely changed its core inflation projection. And last, but not least, it added some nuances to its wording, which could be the prelude to changes in its monetary policy,  BBVA Research notes in its ECB Watch report.