natgillin/translations-raw huggingface dataset:
In the view of the Governing Council , the uncertainty surrounding this outlook for economic activity is particularly high at the current juncture and , generally , downside risks prevail .
Po mnenju Sveta ECB je negotovost , povezana s takšnimi gospodarskimi obeti , v sedanjih razmerah še posebno velika in na splošno prevladujejo tveganja upočasnjevanja gospodarske aktivnosti .
Risks stem particularly from renewed increases in energy and food prices , which could dampen consumption and investment .
Tveganja izhajajo zlasti iz ponovne rasti cen energentov in hrane , kar bi lahko oslabilo potrošnjo in investicije .
Moreover , downside risks continue to relate to the potential for the financial market tensions to affect the real economy more adversely than currently foreseen .
Nadaljnje tveganje še naprej predstavlja možnost , da bodo napetosti na finančnih trgih močneje prizadele realno gospodarstvo , kot je bilo pričakovano doslej .
The possibility of disorderly developments owing to global imbalances also implies downside risks to the outlook for economic activity , as do concerns about rising protectionist pressures .
Vir tveganj je tudi možnost neobvladljivih gibanj zaradi svetovnih neravnovesij ter zaskrbljenost glede vse večjih protekcionističnih pritiskov .
With regard to price developments , annual HICP inflation has remained considerably above the level consistent with price stability since last autumn , standing at 3.8% in August according to Eurostat 's flash estimate , after 4.0% in June and July 2008 .
Pri cenovnih gibanjih ostaja medletna inflacija po HIPC že od lanske jeseni občutno nad ravnijo , ki je skladna s cenovno stabilnostjo , in je avgusta po Eurostatovi prvi oceni znašala 3,8% v primerjavi s 4,0% junija in julija 2008 .
This worrying level of inflation is largely the result of both the direct and indirect effects of past surges in energy and food prices at the global level .
Zaskrbljujoče visoka inflacija izhaja predvsem iz posrednih in neposrednih učinkov preteklega skokovitega porasta cen energentov in hrane na svetovni ravni .
Moreover , wage growth has been picking up in recent quarters , at a time when labour productivity growth has decelerated , resulting in sharp increases in unit labour costs .
Obenem se v zadnjih četrtletjih povečuje rast plač v obdobju , ko se je rast produktivnosti dela upočasnila , kar je povzročilo skokovit porast stroškov dela na enoto proizvoda .
Looking ahead , on the basis of current commodity futures prices , the annual HICP inflation rate is likely to remain well above levels consistent with price stability for quite some time , moderating only gradually during the course of 2009 .
Glede prihodnjih gibanj je na podlagi sedanjih terminskih cen primarnih surovin mogoče pričakovati , da bo inflacija po HICP verjetno še kar nekaj časa ostala precej nad ravnijo , ki je skladna s cenovno stabilnostjo , in da se bo v letu 2009 le postopoma umirjala .
Consistent with this view , the September ECB staff projections foresee average annual HICP inflation at between 3.4% and 3.6% in 2008 , and between 2.3% and 2.9% in 2009 .
Ta predvidevanja so v skladu s septembrskimi projekcijami strokovnjakov ECB , ki napovedujejo , da bo povprečna medletna inflacija po HICP v letu 2008 znašala med 3,4% in 3,6% , v letu 2009 pa med 2,3% in 2,9% .
The higher inflation projections for 2008 and 2009 mainly reflect higher energy prices and , to a lesser extent , higher food and services prices than assumed previously .
Višje projekcije inflacije za leti 2008 in 2009 večinoma odražajo višje cene energentov in v manjši meri višje cene hrane in storitev v primerjavi s prejšnjimi predpostavkami .
In this context , it is important to recall the conditional nature of the ECB staff projections .
Pri tem je pomembno ponovno opozoriti na pogojno naravo projekcij strokovnjakov ECB .
They are based on a number of assumptions that are of a purely technical nature and unrelated to policy intentions .
Projekcije namreč temeljijo na vrsti predpostavk , ki so povsem tehnične narave in niso povezane z namerami politike .
In particular , the technical assumptions for short-term interest rates reflect market expectations as at mid-August .
Tehnične predpostavke o kratkoročnih obrestnih merah kažejo tržna pričakovanja , ki so prevladovala sredi avgusta .
Moreover , it should be noted that the projections are based on the assumption that oil and non-oil commodity prices , while remaining at elevated levels , will exhibit greater stability over the projection horizon than has been the case in recent months , in line with prevailing futures prices .
Nadalje je treba opozoriti , da projekcije temeljijo na predpostavki , da bodo cene nafte in drugih primarnih surovin sicer ostale na povišani ravni , vendar bodo v obdobju projekcij bolj stabilne kot v zadnjih mesecih , kar je v skladu s prevladujočimi terminskimi cenami .
It is the Governing Council 's view that , at the policy-relevant medium-term horizon , there are upside risks to the outlook for price developments .
Po mnenju Sveta ECB so tveganja za gibanje cen v srednjeročnem obdobju , ki je pomembno za denarno politiko , na strani naraščanja inflacije .
These risks include the possibility of renewed increases in commodity prices and of previous rises having further and stronger indirect effects on consumer prices .
Tveganja obsegajo možnost , da bodo cene primarnih surovin ponovno naraščale in da bo prejšnja rast cen povzročila nadaljnje in še močnejše posredne učinke na cene življenjskih potrebščin .
There is particularly a very strong concern that the emergence of broad-based second-round effects in price and wage-setting behaviour could add significantly to inflationary pressures .
Zelo zaskrbljujoče je tudi dejstvo , da bi lahko inflacijske pritiske precej okrepili obsežnejši sekundarni učinki , ki izhajajo iz oblikovanja cen in plač .
Moreover , the upside risks to price stability could be aggravated by unexpected rises in indirect taxes and administered prices .
Navzgor usmerjena tveganja za stabilnost cen bi lahko zaostrilo tudi nepričakovano povečanje posrednih davkov in nadzorovanih cen .
Against this background , it is imperative to ensure that medium to longer-term inflation expectations remain firmly anchored at levels in line with price stability .
Glede na vse te dejavnike je nujno zagotoviti , da srednjeročna in dolgoročnejša inflacijska pričakovanja ostanejo trdno zasidrana na ravni , ki je skladna s stabilnostjo cen .
Broad-based second-round effects stemming from the impact of higher energy and food prices on price and wage setting behaviour must be avoided .
Preprečiti je treba obsežnejše sekundarne učinke , ki jih pri oblikovanju cen in plač povzročajo višje cene energentov in hrane .
The Governing Council is monitoring price-setting behaviour and wage negotiations in the euro area with particular attention .
Svet ECB zato s posebno pozornostjo spremlja oblikovanje cen in pogajanja o plačah v euroobmočju .
All parties concerned -- in both the private and the public sectors -- must meet their responsibilities in this regard .
Vsi sodelujoči tako v javnem kot v zasebnem sektorju morajo na tem področju izpolniti svoje obveznosti .
The Governing Council has repeatedly expressed its concern about the existence of schemes in which nominal wages are indexed to consumer prices .
Svet ECB je že večkrat izrazil zaskrbljenost glede plačnih sistemov , v katerih so nominalne plače indeksirane na cene življenjskih potrebščin .
Such schemes involve the risk of upward shocks in inflation leading to a wage-price spiral , which would be detrimental to employment and competitiveness in the countries concerned .
Takšni sistemi predstavljajo tveganje , da inflacijski šoki sprožijo plačno-cenovno spiralo , ki bi bila škodljiva za zaposlenost in konkurenčnost prizadetih držav .
The Governing Council calls for these schemes to be abolished .
Svet ECB zato poziva , da se takšni plačni sistemi odpravijo .
The monetary analysis confirms the prevailing upside risks to price stability at medium to longer-term horizons .
Denarna analiza potrjuje , da srednjeročno in dolgoročneje prevladujejo navzgor usmerjena tveganja za stabilnost cen .
In line with the ECB 's monetary policy strategy , the Governing Council takes the view that the sustained underlying strength of monetary and credit expansion in the euro area over the past few years has created upside risks to price stability .
V skladu s strategijo denarne politike Svet ECB ocenjuje , da so se zaradi vztrajno močne osnovne rasti denarja in kreditov v euroobmočju v zadnjih nekaj letih pojavila navzgor usmerjena tveganja za cenovno stabilnost .
Over recent quarters , these risks appear to have become manifest as inflation has trended upwards .
V zadnjih četrtletjih so ta tveganja postala jasno vidna , saj se inflacija trendno povečuje .
Not least in the face of the ongoing tensions in financial markets , the monetary analysis helps to support the necessary medium-term orientation of monetary policy by focusing attention on the upside risks to price stability prevailing at medium to longer horizons .
Glede na to , da napetosti na finančnih trgih še niso popustile , denarna analiza prispeva k ohranjanju nujne srednjeročne usmerjenosti denarne politike , saj pozornost usmerja na navzgor usmerjena tveganja za cenovno stabilnost , ki obstajajo v srednjeročnem in dolgoročnejšem obdobju .
While the growth of broad money and credit aggregates is now showing some signs of moderation , reflecting the policy measures taken since 2005 to address risks to price stability , the strong underlying pace of monetary expansion points to continued upside risks to price stability over the medium term .
Medtem ko rast širokega denarja in kreditnih agregatov zdaj kaže nekaj znakov umirjanja predvsem zaradi ukrepov za ublažitev tveganj za cenovno stabilnost , sprejetih od leta 2005 dalje , pa močna osnovna dinamika denarne rasti nakazuje , da na srednji rok še naprej obstajajo navzgor usmerjena tveganja za cenovno stabilnost .
The currently flat yield curve has given rise to a substitution from longer maturity assets into monetary instruments , which offer similar remuneration but greater liquidity and less risk .
Zaradi trenutno položne krivulje donosnosti je prišlo do premeščanja iz dolgoročnejših finančnih sredstev v denarne instrumente , ki ponujajo podobno obrestovanje ob večji likvidnost in manjšem tveganju .
This substitution has led the current headline rate of M3 growth to overstate the underlying pace of monetary expansion .
Takšno premeščanje je povzročilo , da sedanja skupna stopnja rasti denarnega agregata M3 presega osnovno dinamiko rasti denarja .
At the same time , shifts out of overnight deposits drove the annual growth rate of M1 down further in July .
Hkrati se je zaradi premikov iz vlog čez noč julija še dodatno znižala medletna stopnja rasti denarnega agregata M1 .
These effects , as well as other temporary factors , must be taken into account when assessing monetary developments and their implications .
Te učinke in druge začasne dejavnike je treba upoštevati pri ocenjevanju denarnih gibanj in njihovih posledic .
A broad-based analysis of the data , taking the appropriate medium-term perspective and allowing for these considerations , confirms the underlying strength of money growth .
Širša analiza podatkov ob upoštevanju ustrezne srednjeročne perspektive in zgoraj omenjenih dejavnikov potrjuje visoko osnovno stopnjo denarne rasti .
In particular , the pace , maturity and sectoral composition of borrowing from banks suggest that , at the level of the euro area as a whole , the availability of bank credit has , as yet , not been significantly affected by the ongoing financial tensions .
Predvsem je iz dinamike , dospelosti in sektorske sestave zadolževanja pri bankah mogoče sklepati , da na ravni euroobmočja kot celote sedanje napetosti na finančnih trgih doslej niso bistveno prizadele ponudbe bančnih kreditov .
This notwithstanding , growth in loans now shows signs of moderation , as previously anticipated , with corporate demand for credit slowing .
Kljub temu rast posojil sedaj kaže znake umirjanja , kar je v skladu s prejšnjimi pričakovanji , saj se povpraševanje podjetij po kreditih upočasnjuje .
At the same time , the growth of loans to households continues to follow the downward trend observed over the past few years , as a result of higher short-term interest rates and housing market weakness in several parts of the euro area .
Obenem rast posojil gospodinjstvom še naprej sledi trendu zniževanja , ki je opazen v zadnjih nekaj letih , kar je posledica višjih kratkoročnih obrestnih mer in slabitve stanovanjskega trga v več delih euroobmočja .
To sum up , a cross-check of the outcome of the economic analysis with that of the monetary analysis clearly confirms the assessment of upside risks to price stability over the medium term .
Če povzamemo , navzkrižna primerjava rezultatov ekonomske in denarne analize nedvoumno potrjuje oceno , da v srednjeročnem obdobju prevladujejo navzgor usmerjena tveganja za cenovno stabilnost .
The information that has become available since the last meeting of the Governing Council has confirmed that annual inflation rates are likely to remain well above levels consistent with price stability for a protracted period of time .
Informacije , ki so postale dosegljive po zadnji seji Sveta ECB , so potrdile , da bo medletna stopnja inflacije najverjetneje dalj časa ostala precej nad ravnijo , ki je skladna s cenovno stabilnostjo .
The growth of broad money and credit aggregates is now showing some signs of moderation , but the still strong underlying pace of monetary expansion points to continued risks to price stability over the medium term .
Medtem ko rast širokega denarja in kreditnih agregatov zdaj kaže nekaj znakov umirjanja , pa še vedno močna osnovna dinamika denarne rasti nakazuje , da so na srednji rok še naprej prisotna tveganja za cenovno stabilnost .
Against this background , it remains imperative to avoid broad-based second-round effects in wage and price-setting .
V takšnih razmerah je zato še naprej nujno preprečiti obsežnejše sekundarne učinke pri oblikovanju cen in plač .
In full accordance with its mandate , the Governing Council emphasises that maintaining price stability in the medium term is its primary objective and that it is resolute in its determination to keep medium and long-term inflation expectations firmly anchored in line with price stability , thereby preserving purchasing power in the medium term and supporting sustainable growth and employment in the euro area .
Svet ECB popolnoma v skladu s svojim mandatom poudarja , da je njegov poglavitni cilj ohranjanje cenovne stabilnosti v srednjeročnem obdobju in da ostaja trdno odločen , da ohrani srednjeročna in dolgoročna inflacijska pričakovanja trdno zasidrana na ravni , ki je skladna s cenovno stabilnostjo , ter s tem zaščiti kupno moč v srednjeročnem obdobju in podpre vzdržno rast in zaposlenost v euroobmočju .
Regarding fiscal policy , budget plans for 2009 should fully reflect existing policy commitments .
Na področju javnofinančne politike bi morali proračunski načrti za leto 2009 v celoti odražati sedanje zaveze .
This implies that euro area countries with relatively large fiscal deficits need to specify much more ambitious and concrete consolidation measures , especially on the expenditure side .
To pomeni , da morajo države euroobmočja z razmeroma velikim javnofinančnim primanjkljajem pripraviti veliko bolj ambiciozne in konkretne konsolidacijske ukrepe , zlasti na strani odhodkov .
Countries that have already achieved their medium-term budgetary objectives need to ensure that they maintain sound structural fiscal positions .
Države , ki so že dosegle svoje srednjeročne proračunske cilje , pa morajo zagotoviti , da bodo ohranile zdrav strukturni javnofinančni položaj .
At the current juncture , the steady pursuit of stability-oriented fiscal policies would help to contain inflationary pressures and provide the required budgetary room for manoeuvre to allow automatic stabilisers to contribute to smoothing the business cycle .
V sedanjih razmerah bi dosledno izvajanje stabilnostno usmerjene javnofinančne politike prispevalo k brzdanju inflacijskih pritiskov in zagotovilo potreben proračunski manevrski prostor , ki bi omogočal , da samodejni stabilizatorji prispevajo k izravnavanju gospodarskega cikla .
Turning to structural policies , measures that reduce adjustment costs and promote moderate unit labour cost growth are of the utmost importance in the current economic circumstances .
Na področju strukturnih politik so v sedanjih gospodarskih okoliščinah ključnega pomena ukrepi , ki zmanjšujejo stroške prilagajanja in prispevajo k zmernejši rasti stroškov dela na enoto proizvoda .
While this is crucial in all euro area countries , it is particularly pressing in those that have experienced a significant loss of cost and price competitiveness over recent years and where unemployment has already started to rise .
Medtem ko je to bistveno v vseh državah euroobmočja , je še posebno pereče v tistih , ki so v zadnjih letih zabeležile precejšen upad stroškovne in cenovne konkurenčnosti in kjer je brezposelnost že začela naraščati .
Moreover , fostering productivity through enhanced investment in innovation and education enlarges the scope for increases in real incomes in the longer run .
Poleg tega bi spodbujanje produktivnosti prek večjih vlaganj v inovacije in izobraževanje povečalo možnosti za dolgoročno rast realnega dohodka .
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18 May 2005 - Schedules for the meetings of the Governing Council and the General Council of the ECB and the related press conferences in 2006
18 . maj 2005 - Razpored sej Sveta ECB in Razširjenega sveta ECB ter z njimi povezanih tiskovnih konferenc v letu 2006
The Governing Council has decided that in the year 2006 its meetings will continue to be held , as a rule , on a Thursday in the first and third week of each month .
Svet ECB je sklenil , da se bo v letu 2006 praviloma še naprej sestajal vsak četrtek prvega in tretjega tedna v mesecu .
As announced on 8 November 2001 , the stance of the ECB 's monetary policy will continue to be assessed by the Governing Council , as a rule , only at the first meeting of the month .
Kot je bilo objavljeno 8 . novembra 2001 , bo Svet ECB stanje denarne politike ECB praviloma še naprej obravnaval samo na prvi seji v mesecu .
Accordingly , interest rate decisions will normally be taken during that meeting .
V skladu s tem bo o obrestnih merah navadno odločal na tej seji .
Whenever it holds a second meeting in the month , the Governing Council will deal with issues related to other tasks and responsibilities of the ECB and the Eurosystem .
Kadar se bo Svet sestal na drugi seji v mesecu , bo obravnaval vprašanja , povezana z drugimi nalogami in obveznostmi ECB v Eurosistemu .
Obviously , if warranted by the circumstances , the Governing Council can still decide to change the key ECB interest rates at any time , regardless of previously scheduled meetings .
Seveda lahko glede na konkretne razmere Svet ECB ključne obrestne mere ECB še vedno spremeni kadarkoli v mesecu , ne glede na predhodno napovedane seje .
The meeting on 31 August 2006 will include a monetary policy discussion , in place of an early September meeting and , therefore , a press release on the ECB 's monetary policy decisions will be issued on 31 August 2006 .
Razprava o denarni politiki bo namesto na prvi seji v septembru potekala na seji 31 . avgusta 2006 , zato bo sporočilo za javnost o sklepih denarne politike ECB objavljeno 31 .
Furthermore , a press conference will also be held on that day .
Za ta dan bo sklicana tudi tiskovna konferenca .
The meeting schedule of the Governing Council in 2006 also takes into account that reserve maintenance periods will start on the settlement day of the main refinancing operation ( MRO ) following the Governing Council meeting at which the monthly assessment of the monetary policy stance is pre-scheduled .
Razpored sej Sveta ECB za leto 2006 upošteva tudi dejstvo , da se bodo obdobja izpolnjevanja obveznih rezerv začenjala na dan poravnave operacij glavnega refinanciranja po seji Sveta ECB , na kateri je predvidena mesečna ocena stanja denarne politike .
Also in line with established practice , two meetings of the Governing Council will again be held outside Frankfurt : the first one on 8 June 2006 will be hosted by the Banco de España and the second one on 5 October 2006 by the Banque de France .
junija 2006 gostila Banco de España , drugo pa 5 . oktobra 2006 Banque de France .
The General Council has decided that the current practice of having quarterly meetings is to be maintained .
Razširjeni svet ECB je sklenil , da ohrani sedanjo ureditev četrtletnih sej .
Finally , the current regime for holding press conferences will continue , i.e. they will take place after the Governing Council meeting during which interest rate decisions will normally be taken , with the exception of the meeting on 3 August 2006 .
Prav tako se bo nadaljevala sedanja ureditev tiskovnih konferenc , ki bodo potekale po seji Sveta ECB , na kateri ta navadno odloča o obrestnih merah , z izjemo seje 3 . avgusta 2006 .
Meetings of the Governing Council of the ECB in 2006
Seje Sveta ECB v letu 2006
12 January 2006
12 . januar 2006
2 February 2006
2 . februar 2006
16 February 2006
16 . februar 2006
2 March 2006
2 . marec 2006
16 March 2006
16 . marec 2006
6 April 2006
6 . april 2006
20 April 2006
20 . april 2006
4 May 2006
4 . maj 2006
18 May 2006
18 . maj 2006
8 June 2006 ( Madrid )
8 . junij 2006 ( Madrid )
22 June 2006
22 . junij 2006
6 July 2006
6 . julij 2006
20 July 2006
20 . julij 2006
3 August 2006
3 . avgust 2006
31 August 2006
31 . avgust 2006
5 October 2006 ( Paris )
5 . oktober 2006 ( Pariz )
19 October 2006
19 . oktober 2006
7 December 2006
7 . december 2006
21 December 2006
21 . december 2006
11 January 2007
11 . januar 2007
Meetings of the General Council of the ECB in 2006
Seje Razširjenega sveta ECB v letu 2006
Press conferences in 2006
Tiskovne konference v letu 2006
http://www.ecb.europa.eu/press/pr/date/2005/html/pr050518.en.html
http://www.ecb.europa.eu/press/pr/date/2005/html/pr050518.sl.html
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