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Basiseffekt aus der Ölpreisentwicklung

English translation: basis effect

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:Basiseffekt
English translation:basis effect
Entered by: Ralf Lemster
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10:34 Mar 24, 2003
German to English translations [Non-PRO]
Bus/Financial
German term or phrase: Basiseffekt aus der Ölpreisentwicklung
Da der von der EZB und den Marktteilnehmern für heuer ursprünglich erwartete Inflationsrückgang zu einem großen Teil auf einem Basiseffekt aus der Ölpreisentwicklung beruhte, hat sich die Inflationseinschätzung beim aktuellen Ölpreis entsprechend nach oben verschoben und die Unsicherheit über die zukünftige Entwicklung hat sich erhöht.

Vielleicht könnte mit bitte bitte jemand diesen ganzen Satz übersetzen?
janka
basis effects due to oil price developments
Explanation:
Der Basiseffekt entsteht hier angesichts der Tatsache, dass der Ölpreis ein Jahr vorher bereits auf einem vergleichbaren Niveau lag und insofern keine nennenswerte Auswirkung mehr auf die (auf Jahresbasis gemessenen) Inflationsdaten hat. Im monatlichen Vergleich kann das aber durchaus weiterhin spürbar bleiben - daher ja auch die Unsicherheit.

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Note added at 2003-03-24 10:51:20 (GMT)
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Alternatively: \"...on the back of oil price developments...\"

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Note added at 2003-03-24 11:53:50 (GMT)
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Sorry folks, but market lingo is *basis* effect, referring to the basis used for comparison - take this statement from SNB on money supply, for example:

Monetary aggregates

In December, the seasonally-adjusted monetary base decreased by 4.9% from the previous year\'s level, after still having grown by 1.1% in November. Banknote circulation diminished by Sfr 1.4 billion, i.e. 4.1%. At Sfr 3.2 billion, sight deposit balances equalled the November figure but fell short of the level obtaining in December of the previous year by Sfr 0.5 billion or 14.1%. A year earlier, the monetary base had temporarily expanded considerably due to the year 2000 changeover. The pronounced reduction in the monetary base is attributable to this basis effect.

http://www.snb.ch/e/aktuelles/pressemit/pre_010122.html

...or this market report by AIB Group Treasury:

The latest set of national accounts data from the CSO confirm that the slowdown in the Irish economy has gained momentum over the course for the year. In the second quarter, GDP growth slowed from 12.7% (y-on-y) to 9.2%. On a q-on-q basis, the economy grew by 3.0%. There was an even more dramatic
deceleration in the rate of GNP growth, (GDP plus net factor income from the rest of the world) which fell from 11.0% to 1.6%. The correction reflects not only a basis effect, but the impact of exceptionally large outward investment flows over the period.

http://www.johnbeggs.com/jb/pdfs/r30112001133.pdf
Selected response from:

Ralf Lemster
Germany
Local time: 09:14
Grading comment
4 KudoZ points were awarded for this answer

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Summary of answers provided
4 +1basis effects due to oil price developments
Ralf Lemster
4sentencegangels
4is largely based on a basic effect of the development in oil prices
CathyFS
4basic effect from the upward trend in oil prices
Kevin Harper


  

Answers


11 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
basis effects due to oil price developments


Explanation:
Der Basiseffekt entsteht hier angesichts der Tatsache, dass der Ölpreis ein Jahr vorher bereits auf einem vergleichbaren Niveau lag und insofern keine nennenswerte Auswirkung mehr auf die (auf Jahresbasis gemessenen) Inflationsdaten hat. Im monatlichen Vergleich kann das aber durchaus weiterhin spürbar bleiben - daher ja auch die Unsicherheit.

--------------------------------------------------
Note added at 2003-03-24 10:51:20 (GMT)
--------------------------------------------------

Alternatively: \"...on the back of oil price developments...\"

--------------------------------------------------
Note added at 2003-03-24 11:53:50 (GMT)
--------------------------------------------------

Sorry folks, but market lingo is *basis* effect, referring to the basis used for comparison - take this statement from SNB on money supply, for example:

Monetary aggregates

In December, the seasonally-adjusted monetary base decreased by 4.9% from the previous year\'s level, after still having grown by 1.1% in November. Banknote circulation diminished by Sfr 1.4 billion, i.e. 4.1%. At Sfr 3.2 billion, sight deposit balances equalled the November figure but fell short of the level obtaining in December of the previous year by Sfr 0.5 billion or 14.1%. A year earlier, the monetary base had temporarily expanded considerably due to the year 2000 changeover. The pronounced reduction in the monetary base is attributable to this basis effect.

http://www.snb.ch/e/aktuelles/pressemit/pre_010122.html

...or this market report by AIB Group Treasury:

The latest set of national accounts data from the CSO confirm that the slowdown in the Irish economy has gained momentum over the course for the year. In the second quarter, GDP growth slowed from 12.7% (y-on-y) to 9.2%. On a q-on-q basis, the economy grew by 3.0%. There was an even more dramatic
deceleration in the rate of GNP growth, (GDP plus net factor income from the rest of the world) which fell from 11.0% to 1.6%. The correction reflects not only a basis effect, but the impact of exceptionally large outward investment flows over the period.

http://www.johnbeggs.com/jb/pdfs/r30112001133.pdf

Ralf Lemster
Germany
Local time: 09:14
Native speaker of: German
PRO pts in pair: 2684

Peer comments on this answer (and responses from the answerer)
agree  xxxSilLiz
7 hrs
Login to enter a peer comment (or grade)

30 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
is largely based on a basic effect of the development in oil prices


Explanation:
basic effect, not basis effect

CathyFS
Local time: 08:14
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 50
Login to enter a peer comment (or grade)

1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5
basic effect from the upward trend in oil prices


Explanation:
"Entwicklung" can refer to an upward trend.

Kevin Harper
United Kingdom
Local time: 08:14
Native speaker of: English
PRO pts in pair: 45
Login to enter a peer comment (or grade)

2 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
sentence


Explanation:
While a decrease in the rate of inflation – as originally anticipated by the EZB and market participants – was largely predicated on the effects of a basing oil price development, inflation expectations have since shifted upwards in line with the current price of oil and uncertainty over its future course has increased.

gangels
Local time: 01:14
Native speaker of: Native in EnglishEnglish, Native in GermanGerman
PRO pts in pair: 5465
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