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g$ "/44#""-4"'"4D"49"6"#1":54/"#5""E44D:$E1"/44#M:-9:E1-"=!"#$E1:%%"5" E"-#&%" ;&6" &D" D&&-#"'"%" 4D 5" $7&:'" 47 5" "&E:S%" D-" -" /"#D:5"#" " 5" "E44D:$E1" '#4": -" 45"#$-"M"=,"- Z"5"#&% W7" Q"- Y4DD:--"" /"#%&&'5" : 5" -8""5".&"%3-1&&# $-#""3-&#:"3 /44# 5" 3"5"#&% 3M5$ #&-" D"- : -4-&&%V**;7=-4-eB)]7E-=C""&E:S%";"#4"#:'5""55"[YRB5:"5"#"-":5"""#$-"1"%3-/&1"-.&&#/"#5"#1&5/"#144'5D"-:-4-&&%]*;7=-4-e7E-=B"#-4";"$%M:-"4D1&&#%":5:''"/"5"-&#:"3 4'"8:.9:'5 -" %&-"= C" >&7&$" E"-#&%" ;&6 %:"- & "" #"-"/"#14':' D"- )] ;7= -4- *B]* 7E-= : 3";#M&#:B5"#"-"4'"8:.9:'5&&'"9:"5":!&-:":"-/"#$"%5"94&%$/"#8&E1-= GRAFIEK 1.1 BASISRENTE EN LANGETERMIJNRENTE IN HET EUROGEBIED maandgemiddelden, tenzij anders vermeld) 6 6 5 5 4 4 3 3 2 2 1 1 23 24 25 26 27 Basis-herfinancieringstransacties 1 minimale inschrijvingsrente) Overheidsobligaties op vijf jaar 2 Overheidsobligaties op tien jaar 2 Bronnen : Thomson Financial Datastream en ECB. 1 Gegevens aan het einde van de maand. 2 Gemiddelde van de rendementen op de door de lidstaten van het eurogebied uitgegeven obligaties, gewogen aan de hand van de respectieve uitstaande bedragen van de overheidsschuld. EE
O& "" /#:. $-&;:"% /"#%447 -:.5"$ 5" ""#$-" D&&5" /& 1"-.&&# $-""' 5" %&'"-"#D:.#"-"34#$:5"7"#:45"&7#:%?.M:B948"%:5"!"#":'5"U-&-"B[M#47&&%$>&7&B-"'"/4%'" /&'M$-:'"#'#4":/44#M:-9:E1-"=K5"-8""5"1"%3-/&1"-.&&#/:"%5"#"-""E1-"#&&9:"%:.6-"#M'-" '"/4%'"/&5"-M#;M%"-:"$475""&E:S%"D-"B8&Ƞ#5"/44#6"M#/&5";"%"''"#$/44#&%$ /":%:';"$E14M85"&E-:/&-4"&DB"/&5"'#4":"5"49"6"#1":54/"#5""E44D:$E1"/44#M:-9:E1-"= @"#$&%54:$5"%&'"-"#D:.#"-":5"!"#":'5"U-&-"'"5&&%5D"-\_;7=C"AD"#:6&&$"#"-"EM#/" :$ $-":%"# '"84#5" 4D5&- 5" #"-"/"#%&':'" 544# 5" Z"5"#&% 2"$"#/" 1"- 64#-" ":5 /& 5" EM#/" D""# 4D%&&' 5#M6-" 5& 1"- %&'" ":5= K [M#47&B :$ 5" %&'"-"#D:.#"-" 7"# $&%54 '"$-"'" D"- GRAFIEK 1.2 RENTETARIEVEN OP LANGE TERMIJN 1 eindeperiodegegevens) 6 6 5 5 4 4 3 3 2 2 1 1 23 24 25 26 27 België Duitsland Verenigde Staten Japan,45,45,3,3,15,15,15 23 24 25 26 27,15 België min Duitsland Bronnen : NBB en Rentenfonds. 1 Brutorendementen van de referentielening op 1 jaar of «benchmark» ) van de overheidssector op de secundaire markt zie statistische bijlage, tabel S.3, blz. 49). Elke verandering van referentielening kan aanleiding geven tot een sprong in de grafiek, aangezien er geen correctie wordt toegepast voor de verlenging van de reële looptijd die dan plaatsvindt. EJ
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