natgillin/translations-raw huggingface dataset:
The main scenario , therefore , remains one of elevated inflation rates over the short term , and with a gradual decline thereafter .
Osrednji scenarij zato še naprej predvideva kratkoročno povišane stopnje inflacije , čemur naj bi sledilo njihovo postopno zniževanje .
Upside risks to this scenario have , however , increased .
Vendar so se pri tem scenariju povečala tveganja inflacijskih pritiskov .
These relate to ongoing uncertainties surrounding oil market developments , to a potentially stronger pass-through than has so far been observed , on account of higher oil prices being passed on to consumers via the domestic production chain , and to potential second-round effects in wage and price-setting behaviour , all of which play an important role in the Governing Council 's assessment for price stability over the medium term .
Ta so povezana s trenutno negotovostjo glede gibanj na naftnih trgih , učinkom prenosa višjih cen nafte na potrošnike prek domače proizvodne verige , ki bi bil lahko močnejši od trenutno ugotovljenega , in morebitnimi drugotnimi učinki prek oblikovanju plač in cen . Vsi našteti dejavniki imajo pomembno vlogo pri tem , kako Svet ECB ocenjuje stabilnosti cen na srednji rok .
In addition , possible further increases in administered prices and indirect taxes have to be taken into account .
Pri tem je treba upoštevati tudi morebitna dodatna povečanja nadzorovanih cen in posrednih davkov .
Accordingly , strong vigilance is required in order to ensure that longer-term inflation expectations for the euro area remain well-anchored .
Zato je treba izjemno pozorno spremljati vsa dogajanja in zagotoviti , da dolgoročnejša inflacijska pričakovanja v euroobmočju ostanejo trdno zasidrana .
The monetary analysis provides further insight into inflation prospects over medium to longer horizons .
Denarna analiza omogoča dodaten vpogled v pričakovana srednjeročna in dolgoročna gibanja inflacije .
Money and credit have continued to grow robustly in the euro area over the past few months , with the annual rate of M3 growth now exceeding 8 %.
V zadnjih nekaj mesecih se je v euroobmočju nadaljevala visoka rast denarja in kreditov , tako da medletna rast M3 sedaj presega 8 %.
The strength of monetary growth has been increasingly driven primarily by the prevailing low level of interest rates .
K močni rasti denarja so vse bolj prispevale zlasti prevladujoče nizke stopnje obrestnih mer .
In recent months , the short-term dynamics of M3 have gained further momentum and the growth of borrowing , in particular mortgage loans , remains very strong .
Kratkoročna dinamika M3 se je v zadnjih mesecih še dodatno okrepila , saj rast posojil , zlasti hipotekarnih , ostaja zelo močna .
In this context , price dynamics in a number of housing markets need to be monitored closely .
V teh razmerah je treba skrbno spremljati gibanje cen na številnih stanovanjskih trgih .
Strong monetary and credit growth , in the context of an already ample liquidity situation in the euro area , points to risks to price stability over medium to longer horizons .
Visoka rast denarja in kreditov v razmerah , ko v euroobmočju že obstaja precejšen obseg likvidnosti , kaže na srednjeročna in dolgoročna tveganja za stabilnost cen .
To sum up , the economic analysis indicates that oil and petrol price increases , in particular , imply upward revisions to the outlook for short-term price developments .
Ekonomska analiza torej kaže , da povišanja cen -- zlasti nafte in bencina -- pomenijo popravek navzgor pri obetih za kratkoročna gibanja cen .
Domestic inflationary pressures over the medium term still remain contained in the euro area , but significant upside risks have to be taken into account .
Srednjeročni inflacijski pritiski iz domačega okolja so v euroobmočju še naprej omejeni , vendar je treba upoštevati tudi znatna inflacijska tveganja .
Moreover , the monetary analysis identifies upside risks to price stability over the medium to longer term .
Denarna analiza poleg tega ugotavlja , da obstajajo srednjeročna in dolgoročna tveganja inflacijskih pritiskov na stabilnost cen .
Overall , cross-checking the information from the two pillars confirms the need for strong vigilance in order to maintain inflation expectations in line with price stability .
Navzkrižno preverjanje informacij iz obeh stebrov potrjuje , da je za ohranjanje inflacijskih pričakovanj na ravni , ki zagotavlja cenovno stabilnost , treba izjemno pozorno spremljati vsa dogajanja .
By keeping medium-term inflation expectations firmly anchored at levels consistent with price stability , monetary policy continues to make a significant contribution towards a recovery in economic growth .
S tem , ko denarna politika vzdržuje srednjeročna inflacijska pričakovanja na ravni , ki je skladna s cenovno stabilnostjo , še naprej bistveno prispeva h gospodarskemu okrevanju in hitrejši rasti .
As regards fiscal policies in the euro area , most recent information again provides a very mixed picture .
Najnovejši podatki o fiskalnih gibanjih v euroobmočju znova dajejo mešano sliko .
Some countries still report significant imbalances , while others maintain sound fiscal positions .
Nekatere države še vedno poročajo o velikih neravnovesjih , medtem ko druge ohranjajo zdrav javnofinančni položaj .
Preparations for 2006 budgets are in their final stages in most euro area countries . It is essential that forthcoming budgets reflect a thrust for fiscal consolidation that both progresses at the appropriate pace and is embedded in a well-designed and comprehensive reform strategy .
Ker je v večini držav euroobmočja priprava proračunov za leto 2006 že v zaključni fazi , je bistveno , da prihodnji proračuni odražajo premik v smer proračunske konsolidacije , ki se izvaja ustrezno hitro in je sestavni del dobro načrtovane in celovite strategije reform .
This would help to support confidence within the euro area by strengthening expectations of sustainable and growth-friendly public finances and by enhancing the credibility of the reformed Stability and Growth Pact .
S krepitvijo pričakovanj glede vzdržnih javnih financ , ki spodbujajo rast , in s povečanjem kredibilnosti preoblikovanega Pakta o stabilnosti in rasti bi lahko spodbudili zaupanje v euroobmočju .
As for the impact of high oil prices on public finances , consolidation of budgets must be continued .
Zaradi vpliva visokih cen nafte na javne finance je treba nadaljevati tudi s konsolidacijo proračunov .
In addition , as affirmed in the latest G7 statement , subsidies and artificial price caps that constrain the price of oil and oil products have an adverse effect on the global market and should be avoided .
Kot potrjuje zadnja izjava skupine G7 , subvencije in umetne zamejitve cen , ki omejujejo ceno nafte in naftnih derivatov , neugodno vplivajo na svetovni trg in se jim je treba izogibati .
Such measures are also not in the longer-run interests of the economies concerned since all economies will eventually need to adjust to the higher level of the oil price .
Takšni ukrepi tudi niso v dolgoročnejšem interesu zadevnih gospodarstev , saj se bodo morala sčasoma vsa gospodarstva prilagoditi višjim cenam nafte .
Unit labour cost ( ULC ) developments within the euro area play an important role in determining inflation and competitiveness patterns across the euro area countries .
Pri ugotavljanju strukture inflacije in konkurenčnosti v državah euroobmočja imajo gibanja stroškov dela na enoto proizvoda v euroobmočju pomembno vlogo .
Since the euro was introduced , several euro area countries have experienced significantly larger cumulative increases in their ULCs than the euro area average .
Od uvedbe eura je v več državah euroobmočja prišlo do precej večjega kumulativnega povečanja stroškov dela na enoto proizvoda kot v povprečju euroobmočja .
At the same time , some countries have exhibited cumulative ULC developments significantly below the euro area average .
Hkrati so nekatere države poročale o kumulativnih gibanjih stroškov dela na enoto proizvoda , ki so bila znatno pod omenjenim povprečjem .
It must be understood that some differences in ULC growth rates are a natural feature of a well-functioning monetary union , as these may reflect catching-up processes or necessary adjustments to past shocks .
Moramo se zavedati , da so določene razlike v rasti stroškov dela na enoto proizvoda običajne za dobro delujočo monetarno unijo , saj lahko odražajo procese dohitevanja ali potrebne prilagoditve na pretekle šoke .
In this respect , the flexibility within the euro area may well have been underestimated in the early phases of its existence .
V zvezi s tem bi lahko dejali , da je bila prožnost na začetku obstoja euroobmočja nekoliko podcenjena .
At the same time , there is no room for complacency .
Vendar s stanjem ne moremo biti v celoti zadovoljni .
In some euro area countries , wage developments have substantially and persistently exceeded labour productivity growth , leading to relatively strong ULC developments over a prolonged period of time , higher inflationary pressures and losses in competitiveness .
V nekaterih državah euroobmočja so gibanja plač vztrajno in močno presegala rast produktivnosti dela , kar je v daljšem časovnem obdobju povzročilo razmeroma močna gibanja stroškov dela na enoto proizvoda , poleg tega pa tudi višje inflacijske pritiske in zmanjšanje konkurenčnosti .
This may be , at least partially , due to wage rigidities , such as an explicit or de facto indexation of nominal wages to prices or high reservation wages determined by the level of unemployment benefits , to low labour productivity growth and to a lack of competition in some sectors .
Do tega je vsaj delno prišlo zaradi togosti pri plačah , kot je na primer eksplicitno ali dejansko usklajevanje nominalnih plač s cenami ali visoke minimalne plače , določene z ravnjo nadomestil za primer brezposelnosti , ter nizke rasti produktivnosti dela in pomanjkanja konkurence v določenih sektorjih .
In the context of external shocks , such as sharp increases in oil prices , there is an even greater need for increasing the resilience of euro area economies by speeding-up structural reforms .
V razmerah zunanjih šokov , kot je močno povečanje cen nafte , je treba s pospeševanjem strukturnih reform še bolj povečati odpornost gospodarstev euroobmočja .
Together with the completion of the EU internal market , such reforms would support ULC developments that are conducive to price stability and would further smooth the functioning of adjustment mechanisms in the euro area , thereby strengthening the foundations for sustained growth in output and employment .
Takšne reforme bi skupaj z dokončnim oblikovanjem notranjega trga EU podpirale tudi gibanja stroškov dela na enoto proizvoda , ki krepijo stabilnost cen , in bi omogočale še lažje delovanje mehanizmov prilagajanja v euroobmočju .
This issue of the Monthly Bulletin contains two articles .
S tem bi se okrepili temelji za trajno rast proizvoda in zaposlovanja .
The first article assesses the impact of economic and financial uncertainty on the euro area 's money demand , emphasising in particular the influence of that uncertainty on portfolio decisions .
Prvi članek ocenjuje vpliv gospodarske in finančne negotovosti na povpraševanje po denarju v euroobmočju in poudarja predvsem vpliv te negotovosti na portfeljske odločitve .
The second article addresses the performance of financial systems within industrialised countries , using a comprehensive conceptual framework and presenting an illustrative selection of relevant indicators .
Drugi članek obravnava uspešnost delovanja finančnih sistemov v industrijsko razvitih državah , pri čemer uporablja celovit konceptualni okvir in predstavi ilustrativen izbor ustreznih kazalnikov .
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Joint statement on the adoption of the Payment Services Directive
Skupna izjava ob sprejetju Direktive o plačilnih storitvah
On 20 April 2007 the Governing Council endorsed the publication of a joint statement from the European Commission and the ECB welcoming the European Parliament 's adoption of the Payment Services Directive and urging all stakeholders to work for a smooth and timely implementation of SEPA instruments .
Svet ECB je 20 . aprila 2007 odobril objavo skupne pozdravne izjave Evropske komisije in ECB ob sprejetju Direktive o plačilnih storitvah v Evropskem parlamentu ter vse zainteresirane strani pozval , naj si prizadevajo za tekoče in pravočasno uveljavitev instrumentov SEPA .
This statement was published on 24 April 2007 on the ECB 's website .
Izjava je bila 24 . aprila 2007 objavljena na spletnih straneh ECB .
TARGET2-Securities : public consultation and governance of the first phase of the project and public consultation for the CCBM2
TARGET2-Vrednostni papirji : javna razprava in vodenje prve faze projekta ter javna razprava o CCBM2
On 26 April 2007 the Governing Council decided to launch a public consultation on i ) the general principles and a set of high level proposals defining the nature and scope of TARGET2-Securities ( T2S ) ; and ii ) the principles for the development of a common platform for Eurosystem collateral management ( CCBM2 ) .
Svet ECB je 26 . aprila 2007 sklenil , da sproži javno razpravo o ( i ) splošnih načelih in nizu načelnih predlogov , ki naj bi določali naravo in področje sistema TARGET2-Vrednostni papirji ( T2S ) , ter o ( ii ) načelih za razvoj skupne platforme za upravljanje zavarovanj v okviru Eurosisema ( CCBM2 ) .
A paper on the governance of the operational phase of T2S will be finalised by the second half of 2007 .
Študija o vodenju operativne faze T2S bo dokončana tekom druge polovice leta 2007 .
In addition , the Governing Council decided that a note entitled « The organisation of the first phase of the TARGET2-Securities project » , which describes the framework for establishing T2S user requirements would be published .
Poleg tega je Svet ECB sklenil , da se objavi sporočilo z naslovom » The organisation of the first phase of the TARGET2-Securities project «, kjer je opisan okvir za vzpostavitev uporabniških zahtev .
The public consultation was announced and the above-mentioned note published on 26 April 2007 on the ECB 's website . Advice on legislation
Skupaj s tem sporočilom , ki je bilo 26 . aprila 2007 objavljeno na spletnih straneh ECB , je bila najavljena tudi javna razprava .
ECB Opinion on legislation relating to Community job vacancy statistics
Mnenje ECB o zakonodaji v zvezi s statističnimi podatki glede prostih delovnih mest v Skupnosti
On 13 April 2007 , at the request of the EU Council , the Governing Council adopted an Opinion on a regulation on statistics on Community job vacancies ( CON / 2007/9 ) .
Svet ECB je 13 . aprila 2007 na prošnjo Sveta EU sprejel Mnenje o uredbi o statističnih podatkih glede prostih delovnih mest v Skupnosti ( CON / 2007/9 ) .
The Opinion was published in the Official Journal of the EU on 20 April 2007 and is also available on the ECB 's website .
Mnenje je bilo 20 . aprila 2007 objavljeno v Uradnem listu EU in je na voljo tudi na spletnih straneh ECB .
ECB Opinion on Hungarian anti-money laundering legislation
Mnenje ECB o madžarski zakonodaji o preprečevanju pranja denarja
On 16 April 2007 , at the request of the Hungarian Ministry of Finance , the Governing Council adopted an Opinion on amendments to the law on the prevention and combating of money laundering relating to the sanctions and supervision regimes and the scope of their application to the national central bank ( CON / 2007/10 ) .
Svet ECB je 16 . aprila 2007 na prošnjo madžarskega ministrstva za finance sprejel Mnenje o spremembah zakona o preprečevanju pranja denarja in boju proti njemu v zvezi s sistemom sankcij in nadzora ter področjem njihove uporabe za nacionalno centralno banko ( CON / 2007/10 ) .
ECB Opinion on European Critical Infrastructure legislation
Mnenje ECB o zakonodaji o evropski ključni infrastrukturi
On 13 April 2007 , at the request of the EU Council , the Governing Council adopted an Opinion on the identification and designation of European Critical Infrastructure and the assessment of the need to improve their protection against disruption and destruction ( CON / 2007/11 ) .
Svet ECB je 13 . aprila 2007 na prošnjo Sveta EU sprejel Mnenje o ugotavljanju in določanju evropske ključne infrastrukture ter o oceni potrebe za izboljšanje njenega varovanja pred okvaro ali uničenjem ( CON / 2007/11 ) .
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EDITORIAL 12 October 2006 - Monthly Bulletin
12 . oktober 2006 - Mesečni bilten
At its meeting on 5 October 2006 , the Governing Council decided to increase the minimum bid rate of the main refinancing operations of the Eurosystem by 25 basis points to 3.25% .
Svet ECB je na seji 5 . oktobra 2006 sklenil , da poviša izklicno obrestno mero za operacije glavnega refinanciranja Eurosistema za 25 bazičnih točk na 3,25% .
The interest rates on the marginal lending facility and the deposit facility were also increased by 25 basis points to 4.25% and 2.25% respectively .
Prav tako je za 25 bazičnih točk povišal obrestno mero za odprto ponudbo mejnega posojila in odprto ponudbo mejnega depozita , ki zdaj znašata 4,25% oziroma 2,25% .
The decision to raise the key ECB interest rates reflects the upside risks to price stability over the medium term that the Governing Council has identified on the basis of its regular economic and monetary analyses .
Odločitev o dvigu ključnih obrestnih mer ECB odraža tveganja inflacijskih pritiskov na cenovno stabilnost v srednjeročnem obdobju , kar je Svet ECB ugotovil na podlagi svoje redne ekonomske in denarne analize .
The decision will contribute to ensuring that medium to longer-term inflation expectations in the euro area remain solidly anchored at levels consistent with price stability .
Ta odločitev bo prispevala k temu , da ostanejo srednjeročna in dolgoročna inflacijska pričakovanja v euroobmočju trdno zasidrana na ravni , ki je skladna s stabilnostjo cen .
Also after this increase , the key ECB interest rates remain at low levels , money and credit growth remain strong , and liquidity in the euro area is ample by all plausible measures .
Tudi po tem dvigu ostajajo ključne obrestne mere ECB na nizki ravni , rast obsega denarja in kreditov je visoka , likvidnost v euroobmočju pa je po vseh zanesljivih merilih obsežna .
The ECB 's monetary policy therefore continues to be accommodative .
Denarna politika ECB tako torej ostaja akomodativna .
If the Governing Council 's assumptions and baseline scenario are confirmed , it will remain warranted to further withdraw monetary accommodation .
Če se predpostavke in osnovni scenarij Sveta ECB izkažejo za pravilne , bo še naprej potrebno zaostrovanje akomodativne denarne politike .
The Governing Council will therefore continue to monitor very closely all developments so as to ensure price stability over the medium and longer term .
Svet ECB bo zato še naprej zelo natančno spremljal vsa dogajanja , da bi zagotovil stabilnost cen v srednjeročnem in dolgoročnem obdobju .
Starting with the economic analysis , the quarter-on-quarter growth rate of real GDP in the euro area for the second quarter of 2006 was confirmed at 0.9% .
Ekonomska analiza potrjuje , da je realna rast BDP v euroobmočju v drugem četrtletju 2006 v primerjavi s prejšnjim četrtletjem znašala 0,9% .
Moreover , since the previous meeting of the Governing Council , on 31 August 2006 , Eurostat has revised upwards the growth data for the two preceding quarters , thereby confirming that a significant acceleration in economic expansion has taken place over the past few quarters .
Poleg tega je po prejšnji seji Sveta ECB 31 . avgusta 2006 Eurostat navzgor popravil podatke o rasti v predhodnih dveh četrtletjih , kar kaže na precejšnjo pospešitev gospodarske rasti v zadnjih nekaj četrtletjih .
On the basis of the revised data , economic activity has been growing at a quarterly rate of 0.7% on average over the last four quarters , the unemployment rate has been on a falling trend , employment growth has recovered and employment expectations overall have remained favourable .
Na podlagi revidiranih podatkov je četrtletna stopnja gospodarske rasti v zadnjih štirih četrtletjih v povprečju znašala 0,7% , stopnja brezposelnosti se je postopno zniževala , rast zaposlenosti se je začela povečevati , pričakovano zaposlovanje pa je na splošno še naprej ugodno .
All in all , the economic recovery now appears somewhat stronger than on the basis of earlier data .
V celoti gledano je gospodarsko okrevanje nekoliko močnejše , kot so nakazovali predhodni podatki .
It has become more broadly based and is mainly supported by domestic demand .
Poleg tega je okrevanje zajelo več dejavnosti , spodbuja pa ga predvsem domače povpraševanje .