CINXE.COM
Reserva Federal (Fed) | CaixaBank Research
<!DOCTYPE html><html lang="es" dir="ltr" prefix="content: http://purl.org/rss/1.0/modules/content/ dc: http://purl.org/dc/terms/ foaf: http://xmlns.com/foaf/0.1/ og: http://ogp.me/ns# rdfs: http://www.w3.org/2000/01/rdf-schema# schema: http://schema.org/ sioc: http://rdfs.org/sioc/ns# sioct: http://rdfs.org/sioc/types# skos: http://www.w3.org/2004/02/skos/core# xsd: http://www.w3.org/2001/XMLSchema# "><head><meta charset="utf-8" /><link rel="canonical" href="https://www.caixabankresearch.com/es/tags/reserva-federal-fed" /><meta name="robots" content="index, follow" /><link rel="image_src" href="https://www.caixabankresearch.com/themes/custom/cbr_theme/src/images/header_logo.jpg" /><meta property="og:site_name" content="CaixaBank Research" /><meta property="og:url" content="https://www.caixabankresearch.com/es/tags/reserva-federal-fed" /><meta property="og:title" content="Reserva Federal (Fed)" /><meta property="og:image:url" content="https://www.caixabankresearch.com/themes/custom/cbr_theme/src/images/header_logo.jpg" /><meta name="Generator" content="Drupal 9 (https://www.drupal.org)" /><meta name="MobileOptimized" content="width" /><meta name="HandheldFriendly" content="true" /><meta name="viewport" content="width=device-width, initial-scale=1.0" /><link rel="icon" href="/themes/custom/caixabank/favicon.ico" type="image/vnd.microsoft.icon" /><link rel="alternate" hreflang="ca" href="https://www.caixabankresearch.com/ca/tags/reserva-federal-fed" /><link rel="alternate" hreflang="es" href="https://www.caixabankresearch.com/es/tags/reserva-federal-fed" /><link rel="alternate" hreflang="en" href="https://www.caixabankresearch.com/en/tags/federal-reserve-fed" /><script src="/sites/default/files/google_tag/google_tag_manager_prod/google_tag.script.js?sngh6m" defer></script><title>Reserva Federal (Fed) | CaixaBank Research</title><link rel="dns-prefetch" href="//www.googletagmanager.com/" ><link href="https://www.googletagmanager.com/gtm.js?id=GTM-WJ23CKP" rel="preload" as="script"><link rel="stylesheet" media="all" href="/sites/default/files/css/css__MfB14MVNmJBDcdz3dIbL8TOzUZXmJGpKRbEcpDfKbE.css" /><link rel="stylesheet" media="all" href="/sites/default/files/css/css_4jJSIIn4mGTtpyang-EYQXEuaznom8gHEP5XlkrJbHY.css" /><script src="/sites/default/files/js/js_rEaGukJeFdBVmSJMJRW8bl9GIIiD_za-dNTgMubz4Yk.js"></script></head><body class="role-anonymous path-taxonomy term-462"> <a href="#main-content" class="visually-hidden focusable"> Pasar al contenido principal </a> <noscript><iframe src="https://www.googletagmanager.com/ns.html?id=GTM-WJ23CKP" height="0" width="0" style="display:none;visibility:hidden"></iframe></noscript><div class="dialog-off-canvas-main-canvas" data-off-canvas-main-canvas><div id="side-navigation"><div class="sidebar_navigation"><div class="container"><div class="sidebar-wrapper"> <nav role="navigation" aria-labelledby="block-caixabank-navegacionprincipal-sidebar-menu" id="block-caixabank-navegacionprincipal-sidebar"><h2 class="visually-hidden" id="block-caixabank-navegacionprincipal-sidebar-menu">Navegación principal</h2><ul class="menu menu-level-0"><li class="menu-item"> <a href="/es" data-drupal-link-system-path="<front>">Inicio</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-0 menu-type-default"></div></li><li class="menu-item menu-item--expanded"> <a href="/es/economia-y-mercados" data-drupal-link-system-path="taxonomy/term/3">Economía y mercados</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-0 menu-type-default"><ul class="menu menu-level-1"><li class="menu-item"> <a href="/es/indicadores-y-previsiones" data-drupal-link-system-path="taxonomy/term/42">Indicadores y previsiones</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/economics-markets/analisis-coyuntura" data-drupal-link-system-path="taxonomy/term/21">Análisis de coyuntura</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/economics-markets/actividad-y-crecimiento" data-drupal-link-system-path="taxonomy/term/993">Actividad y crecimiento</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/economics-markets/inflacion" data-drupal-link-system-path="taxonomy/term/11">Inflación</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/economics-markets/materias-primas" data-drupal-link-system-path="taxonomy/term/6">Materias primas</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/economics-markets/mercado-laboral-y-demografia" data-drupal-link-system-path="taxonomy/term/12">Mercado laboral y demografía</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/economics-markets/mercados-financieros" data-drupal-link-system-path="taxonomy/term/4">Mercados financieros</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/economics-markets/politica-monetaria" data-drupal-link-system-path="taxonomy/term/5">Política monetaria</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/economics-markets/sector-publico" data-drupal-link-system-path="taxonomy/term/14">Sector público</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/economia-y-mercados" data-drupal-link-system-path="taxonomy/term/3">Ver todo sobre Economía y mercados</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li></ul></div></li><li class="menu-item menu-item--expanded"> <a href="/es/analisis-sectorial" data-drupal-link-system-path="taxonomy/term/15">Análisis sectorial</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-0 menu-type-default"><ul class="menu menu-level-1"><li class="menu-item"> <a href="/es/sector-analysis/agroalimentario" data-drupal-link-system-path="taxonomy/term/16">Agroalimentario</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/sector-analysis/banca" data-drupal-link-system-path="taxonomy/term/17">Banca</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/sector-analysis/comercio-minorista" data-drupal-link-system-path="taxonomy/term/1073">Comercio minorista</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/sector-analysis/consumo" data-drupal-link-system-path="taxonomy/term/1075">Consumo</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/sector-analysis/digitalizacion" data-drupal-link-system-path="taxonomy/term/1079">Digitalización</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/sector-analysis/industria" data-drupal-link-system-path="taxonomy/term/1074">Industria</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/sector-analysis/inmobiliario" data-drupal-link-system-path="taxonomy/term/19">Inmobiliario</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/sector-analysis/turismo" data-drupal-link-system-path="taxonomy/term/20">Turismo</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/analisis-sectorial" data-drupal-link-system-path="taxonomy/term/15">Ver todo sobre Análisis sectorial</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li></ul></div></li><li class="menu-item menu-item--expanded"> <a href="/es/areas-geograficas" data-drupal-link-system-path="taxonomy/term/211">Áreas geográficas</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-0 menu-type-default"><ul class="menu menu-level-1"><li class="menu-item"> <a href="/es/areas-geograficas/espana" data-drupal-link-system-path="taxonomy/term/212">España</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/areas-geograficas/portugal" data-drupal-link-system-path="taxonomy/term/213">Portugal</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/areas-geograficas/internacional" data-drupal-link-system-path="taxonomy/term/792">Internacional</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/areas-geograficas" data-drupal-link-system-path="taxonomy/term/211">Ver todo sobre Áreas geográficas</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li></ul></div></li><li class="menu-item menu-item--expanded"> <a href="/es/publicaciones" data-drupal-link-system-path="taxonomy/term/43">Publicaciones</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-0 menu-type-default"><ul class="menu menu-level-1"><li class="menu-item"> <a href="/es/publications/informe-mensual" data-drupal-link-system-path="taxonomy/term/48">Informe Mensual</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/publications/pulso-economico-semanal" data-drupal-link-system-path="taxonomy/term/52">Pulso Económico Semanal</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/publications/financial-markets-daily-report" data-drupal-link-system-path="taxonomy/term/47">Financial Markets Daily Report</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/publications/notas-breves-actualidad-economica-y-financiera" data-drupal-link-system-path="taxonomy/term/51">Notas Breves de Actualidad Económica y Financiera</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/publications/monitor-consumo" data-drupal-link-system-path="taxonomy/term/1044">Monitor de consumo</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/publications/informes-sectoriales" data-drupal-link-system-path="taxonomy/term/50">Informes Sectoriales</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/publicaciones/spains-macroeconomic-financial-outlook" data-drupal-link-system-path="node/2616">Spain's Macroeconomic & Financial Outlook</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/publications/fichas-comunidades-autonomas" data-drupal-link-system-path="taxonomy/term/1086">Fichas Comunidades Autónomas</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/publicaciones/portugals-macroeconomic-financial-outlook" data-drupal-link-system-path="node/2617">Portugal's Macroeconomic & Financial Outlook</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/publications/fichas-pais" data-drupal-link-system-path="taxonomy/term/46">Fichas País</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/publications/flash-divisas" data-drupal-link-system-path="taxonomy/term/1166">Flash Divisas</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/podcast" data-drupal-link-system-path="taxonomy/term/62">Pódcast Economía Exprés</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/video" data-drupal-link-system-path="taxonomy/term/61">Vídeos</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/publications/documentos-trabajo" data-drupal-link-system-path="taxonomy/term/53">Documentos de Trabajo</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/publicaciones/articulos-academicos" data-drupal-link-system-path="taxonomy/term/58">Artículos académicos</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/conferencias-economistas" data-drupal-link-system-path="taxonomy/term/73">Conferencias</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/publicaciones/hemeroteca" data-drupal-link-system-path="taxonomy/term/49">Hemeroteca</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/publicaciones" data-drupal-link-system-path="taxonomy/term/43">Ver todo sobre Publicaciones</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li></ul></div></li><li class="menu-item"> <a href="https://realtimeeconomics.caixabankresearch.com/#/home?lang=CAS" target="_blank">Economía en tiempo real</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-0 menu-type-default"></div></li></ul> </nav><div class="language-switcher-language-url block block--fancy language_block:language_interface block-caixabank-alternadordeidioma" id="block-caixabank-alternadordeidioma" role="navigation"><ul class="links"><li hreflang="es" data-drupal-link-system-path="taxonomy/term/462" class="is-active"><a href="/es/tags/reserva-federal-fed" class="language-link is-active" hreflang="es" data-drupal-link-system-path="taxonomy/term/462">CAS</a></li><li hreflang="ca" data-drupal-link-system-path="taxonomy/term/462"><a href="/ca/tags/reserva-federal-fed" class="language-link" hreflang="ca" data-drupal-link-system-path="taxonomy/term/462">CAT</a></li><li hreflang="en" data-drupal-link-system-path="taxonomy/term/462"><a href="/en/tags/federal-reserve-fed" class="language-link" hreflang="en" data-drupal-link-system-path="taxonomy/term/462">ENG</a></li></ul></div> <a href="/es/user/login" class="btn-bottom-mobile">Iniciar sesión</a></div></div></div></div><header role="banner"><div class="header"><div class="container"><div class="header-wrapper"><div class="social-top twitter-link"><a title="Header Twitter Link" target="_blank" href="https://twitter.com/CABK_Research"> <svg version="1.1" id="Layer_1" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink" x="0px" y="0px" width="22.328px" height="18.146px" viewBox="0 0 22.328 18.146" enable-background="new 0 0 22.328 18.146" xml:space="preserve"> <path fill="#FFFFFF" d="M22.328,2.148c-0.82,0.365-1.703,0.611-2.631,0.721c0.946-0.566,1.672-1.464,2.014-2.534 c-0.885,0.525-1.864,0.906-2.908,1.112C17.966,0.557,16.776,0,15.458,0c-2.529,0-4.581,2.052-4.581,4.581 c0,0.359,0.041,0.708,0.119,1.044C7.19,5.435,3.814,3.61,1.555,0.838c-0.394,0.678-0.62,1.465-0.62,2.305 c0,1.589,0.808,2.991,2.037,3.812c-0.75-0.023-1.457-0.229-2.074-0.572C0.897,6.4,0.897,6.419,0.897,6.439 c0,2.219,1.579,4.071,3.675,4.492c-0.384,0.104-0.789,0.16-1.207,0.16c-0.295,0-0.582-0.028-0.862-0.082 c0.583,1.819,2.275,3.144,4.279,3.181c-1.568,1.229-3.543,1.961-5.689,1.961c-0.37,0-0.734-0.022-1.093-0.064 c2.028,1.301,4.436,2.06,7.022,2.06c8.426,0,13.033-6.981,13.033-13.034c0-0.198-0.005-0.396-0.013-0.593 C20.937,3.874,21.714,3.066,22.328,2.148"/> </svg> </a></div><div class="social-top spotify-link"><a title="Header Spotify Link" target="_blank" href="https://open.spotify.com/show/2Fe9ugalc3XYJjRKiInYNQ?go=1&sp_cid=f43ad2b90a329108a9629db7693b3d42&nd=1"> <svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 496 512"> <path fill="#fff" d="M248 8C111.1 8 0 119.1 0 256s111.1 248 248 248 248-111.1 248-248S384.9 8 248 8Z"/> <path fill="#197EAE" d="M406.6 231.1c-5.2 0-8.4-1.3-12.9-3.9-71.2-42.5-198.5-52.7-280.9-29.7-3.6 1-8.1 2.6-12.9 2.6-13.2 0-23.3-10.3-23.3-23.6 0-13.6 8.4-21.3 17.4-23.9 35.2-10.3 74.6-15.2 117.5-15.2 73 0 149.5 15.2 205.4 47.8 7.8 4.5 12.9 10.7 12.9 22.6 0 13.6-11 23.3-23.2 23.3zm-31 76.2c-5.2 0-8.7-2.3-12.3-4.2-62.5-37-155.7-51.9-238.6-29.4-4.8 1.3-7.4 2.6-11.9 2.6-10.7 0-19.4-8.7-19.4-19.4s5.2-17.8 15.5-20.7c27.8-7.8 56.2-13.6 97.8-13.6 64.9 0 127.6 16.1 177 45.5 8.1 4.8 11.3 11 11.3 19.7-.1 10.8-8.5 19.5-19.4 19.5zm-26.9 65.6c-4.2 0-6.8-1.3-10.7-3.6-62.4-37.6-135-39.2-206.7-24.5-3.9 1-9 2.6-11.9 2.6-9.7 0-15.8-7.7-15.8-15.8 0-10.3 6.1-15.2 13.6-16.8 81.9-18.1 165.6-16.5 237 26.2 6.1 3.9 9.7 7.4 9.7 16.5s-7.1 15.4-15.2 15.4z"/> </svg> </a></div><div class="language-switcher-language-url block block--fancy language_block:language_interface block-caixabank-languageswitcher" id="block-caixabank-languageswitcher" role="navigation"><ul class="links"><li hreflang="es" data-drupal-link-system-path="taxonomy/term/462" class="is-active"><a href="/es/tags/reserva-federal-fed" class="language-link is-active" hreflang="es" data-drupal-link-system-path="taxonomy/term/462">CAS</a></li><li hreflang="ca" data-drupal-link-system-path="taxonomy/term/462"><a href="/ca/tags/reserva-federal-fed" class="language-link" hreflang="ca" data-drupal-link-system-path="taxonomy/term/462">CAT</a></li><li hreflang="en" data-drupal-link-system-path="taxonomy/term/462"><a href="/en/tags/federal-reserve-fed" class="language-link" hreflang="en" data-drupal-link-system-path="taxonomy/term/462">ENG</a></li></ul></div><div id="block-caixabank-menuuserarea" class="block block--fancy user_area_menu block-caixabank-menuuserarea"><ul class="menu"><li><a href="/es/user/login" class="button-newsletter">Newsletters</a></li></ul></div></div></div></div><div class="main_navigation"><div class="container mb-no-padding"><div class="secondary-switcher"><div class="menu-mobile"> <span class="bar top"></span> <span class="bar middle"></span> <span class="bar bottom"></span></div></div><div id="block-caixabank-buscador" class="block block--fancy webform_block block-buscador"><div id="block-close" class="block-close"></div><form class="webform-submission-form webform-submission-add-form webform-submission-buscador-form webform-submission-buscador-add-form webform-submission-buscador-taxonomy_term-462-form webform-submission-buscador-taxonomy_term-462-add-form webform-submission-buscador-taxonomy-term-462-add-form js-webform-details-toggle webform-details-toggle" data-drupal-selector="webform-submission-buscador-taxonomy-term-462-add-form" action="/search" method="get" id="webform-submission-buscador-taxonomy-term-462-add-form" accept-charset="UTF-8"><div class="js-form-item form-item js-form-type-search form-item-buscar js-form-item-buscar form-no-label"> <label for="edit-buscar" class="visually-hidden">Buscar</label> <input autocomplete="off" data-drupal-selector="edit-buscar" type="search" id="edit-buscar" name="buscar" value="" size="60" maxlength="128" placeholder="Haz tu búsqueda" class="form-search" /></div><div class="form-actions"> <input class="webform-button--submit button button--primary js-form-submit form-submit" data-drupal-selector="edit-submit" type="submit" id="edit-submit--2" value="Enviar" /></div><a href="/es" class="button cancel" data-drupal-selector="edit-cancel" id="edit-cancel--2">Cancelar</a> <a id="linkAZ" href="/es/etiquetas-a-z">Etiquetas A - Z</a></form></div><div id="block-caixabank-cookiesui" class="block block--fancy cookies_ui_block block-caixabank-cookiesui"><div id="cookiesjsr" style="display: none"></div></div><div id="block-caixabank-logo" class="block block--fancy block_content:97f26e2c-ed87-4777-b925-3e96621f203f block-caixabank-logo" style="transform:translate(-7px,4px); flex-basis: auto; text-align: center; margin: 0; padding-top: 10px;"> <a href="https://www.caixabankresearch.com/es" title="CaixaBank Research logo"><svg xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink" version="1.1" id="Capa_2" x="0px" y="0px" viewBox="0 0 469.7 126" style="enable-background:new 0 0 469.7 126;" xml:space="preserve"> <g> <path class="ctlogo0" d="M35.3,52.9c1,0.7,0.9,2,1.8,2.7l0.4,3l-2.2,3.2c-2.8,1.5-6.9,2.1-9.5-0.2c-1.5-1.3-1.9-3.2-1.5-5.1l1-2.8 c0.6-0.4,1.4-0.5,1.8-1.2c1.4-0.9,3.1-0.7,4.7-1C33,51.9,34.8,51.2,35.3,52.9"></path> <path class="ctlogo1" d="M28.1,70.7c0.9,0,1.5,0.6,2.3,0.5c1.2,0.4,1,1.9,2.2,2.2c0.9,1.9,1.5,3.9,2,5.9c-0.3,1.2,0.6,1.9,0.3,2.9 l0.3,0.2c0,1.1-0.1,2.4-0.5,3.5c0.2,2-0.8,3.8-1.7,5.5c-0.6,0.4-0.9,1.5-1.8,1.3c-1.6,0.5-1.7,2.8-3.6,2.6 c-1.2,0.9-2.9,0.4-4.3,0.4c-0.8-0.4-2-0.3-2.6-1.1c-1.5-0.6-2.8-1.7-4.1-2.7c-0.5-1.1-1.6-1.6-1.8-2.8c0.4-1.5-0.5-2.8-0.1-4.3 l-0.3-2.4l0.9-4.2c1.6-0.8,1.1-2.7,2.7-3.3c1-2.2,3.3-2.7,5.1-3.9c0.7-0.1,1.5,0.2,2.1-0.4C26.3,70.4,27.2,71.5,28.1,70.7"></path> <path class="ctlogo2" d="M107.8,5.6c-0.4,6.9-6.1,11.5-9,17.3c-1.3,3.5-4.3,5.5-6.5,8.6c-2,2-3.9,4.2-5.5,6.5c0.3,1.6,2,2.1,3,3.2 c2.2,1.3,2.4,3.8,4.3,5.3c1.1,0,1.1,1.7,2.3,1.5c2.6,2.8,4.7,5.7,6.8,8.7c0.3,1.1,0.9,2.1,1.8,2.9c1.7,2.5,3.1,5.1,4.9,7.7 c0.2,2.8,2.6,4.7,3.4,7.4c1.1,1.4,1.5,3.1,2.5,4.5c1.5,3.3,2.5,6.8,4.3,10c0.3,0.7-0.1,1.5-0.5,2c-0.7,0.5-1.2-0.4-2-0.3 c-4-1.5-7.8-3.6-11.5-5.8c-3.8-3.1-8-5.3-11.8-8.5c-1.5-0.4-2.1-2.1-3.4-2.8c-3.6-2.3-6.5-5.5-10.2-7.6c-1.7-1.3-3.3-2.5-5-3.8 c-1.3-0.1-1.7-1.6-2.9-2.1c-2.7-1.7-5.2-4-8-5.5c-0.2,0.4,0,1-0.2,1.4c-1.9,1.8-1.4,4.6-2.7,6.6c0,2.9-2.1,5-2.9,7.5 c-2.3,4.1-4.3,8.3-6.7,12.4c-3.2,4.2-4.9,9.3-9.4,12.7c-1,1.2-2.1,1.9-3.3,2.6c-0.5-0.2-1.3-0.1-1.5-0.7c-0.5-1,0.1-2.6-0.6-3.5 c0.6-1.4,0.2-3,0.5-4.6L38,88.5c0-2.1,1.1-4,0.7-6.2c0.6-1.4,0.8-2.9,1-4.4c0.7-1.9,1.3-3.9,1.5-5.9c0.6-1.2,0.9-2.7,0.7-4.1 c0.5-1.3,0.6-2.8,1.9-3.7c0.2-0.8,0-1.7,0.1-2.5c1.3-4,2.9-7.9,4-12c0-0.3-0.3-0.4-0.5-0.4c-2.9-0.1-5.6,0.4-8.3-0.3 c-4.4-0.1-8.8-0.6-13-1.5c-1.7-0.3-3.8-0.1-5.3-1.1c-1,0-2.2,0.2-3.2-0.3c-2-1-4.4-0.8-6.4-1.9c-1.5,0.2-2.6-0.8-4-0.9 c-1.3,0.1-2.1-1-3-1.8v-0.4c2.4-3.3,6.4-4.2,9.9-5.5c3.5-1.1,7.3-1.2,10.9-1.9c2.3-0.4,4.8,0.2,7.1-0.1c4.2,0.1,8.2,0.8,12.3,0.9 c1.4,0.2,2.6,0.8,4,0.8l0-0.6l-3.9-5.3c-1.5-3.4-4.1-6.3-5.1-9.9c-0.9-1.1-0.1-2.7-0.7-3.9c0-0.5,0.4-0.9,0.6-1.4 c0.8-0.3,1.8,0.2,2.6-0.3c2.5,0.6,4.8,1.5,7.3,2c2.6,1,5.2,2.1,7.5,3.8c2.9,2,6.4,3.4,8.6,6.5c0.6,0.5,1.5,0.6,2.3,0.4 c0.7-0.1,0.8-0.9,1.5-1.2c3-1.9,6.4-3,9.4-5.1c1.2-1.2,3.2-1.4,3.9-3c0.9-0.4,1.8-1,2.7-1.3c1.7-1.2,3.4-2.5,5.3-3.5 c1-0.1,1.8-0.6,2.5-1.2c3-1.7,6.2-3,9.1-4.9c0.6-1.7,2.5-1.3,3.9-1.7C106.5,4.8,107.5,4.7,107.8,5.6"></path> <rect x="142.4" y="85.2" class="ctlogo3" width="323.1" height="1.3"></rect> <rect x="142.4" y="86.4" class="ctlogo3" width="323.1" height="1.3"></rect> <path class="ctlogo3" d="M366.5,47.1c2-2.9,3.9-4.1,7.7-4.1c5.3,0,5.6,4.7,5.6,8.9c-1.1,0-2.4-0.2-3.7-0.2c-7.1,0-15,3.2-15,11.5 c0,5.8,5.2,9.1,10.6,9.1c3.4,0,5.9-1.9,8.6-3.8c0.9,2,3.3,3.4,6.2,3.8l5.9-4.7l-1.2-1.2c-0.5,0.2-1.3,0.3-1.6,0.3 c-1.7,0-2.3-1-2.3-4.6v-2.7c0.1-4.5,0.3-8.5,0.3-11.3c0-7.8-5.9-9.7-12.9-9.7c-3.7,0-6.8,0.5-10.1,1.4v7.4H366.5z M380.1,66.2 c-1.3,0.8-2.8,1.3-5.2,1.3c-3.3,0-6.1-2.7-6.1-6.3c0-5,3.8-6.9,7.4-6.9c1.4,0,2.9,0.2,3.7,0.4L380.1,66.2z"></path> <path class="ctlogo3" d="M192.7,27.3h-3.4c-2.5-7.5-10.3-10.5-17.2-10.5c-13.9,0-19.7,11.2-19.7,24.7c0,22.6,16.4,26.5,23,26.5 c6.5,0,12.4-2.8,15.9-8.4l2.5,1l-2.5,8.9c-6.4,1.2-10.4,1.8-15.6,1.8c-23.9,0-34.4-14.8-34.4-29.2c0-16.5,12.7-28.7,30.7-28.7 c10.4,0,14.4,1.8,20.1,3.2L192.7,27.3z"></path> <path class="ctlogo3" d="M217.1,54.7c-0.9-0.2-2.4-0.4-3.8-0.4c-3.6,0-7.4,1.9-7.4,6.9c0,3.6,2.8,6.3,6.1,6.3c2.4,0,4-0.5,5.3-1.3 L217.1,54.7z M201.8,47.1v-7.4c3.3-0.9,6.4-1.4,10.1-1.4c7,0,12.9,1.9,12.9,9.7c0,2.8-0.2,6.9-0.3,11.4V62c0,3.6,0.6,4.6,2.4,4.6 c0.4,0,1.1-0.1,1.6-0.3l1.2,1.2l-5.9,4.7c-3-0.4-5.3-1.9-6.3-3.8c-2.7,2-5.2,3.8-8.6,3.8c-5.3,0-10.6-3.3-10.6-9.1 c0-8.3,7.9-11.5,15-11.5c1.3,0,2.6,0.2,3.7,0.2c0-4.2-0.3-8.9-5.6-8.9c-3.8,0-5.8,1.3-7.8,4.2H201.8z"></path> <path class="ctlogo3" d="M238.6,25.1c2.3,0,4.3,1.6,4.3,4c0,2.3-2,4-4.3,4c-2.3,0-4.3-1.6-4.3-4C234.3,26.7,236.3,25.1,238.6,25.1 M242.5,38.3c0,3.3,0.3,10.2,0.3,16.6v11.4c0,2.7,1.2,3.1,3.1,3.5v1.6c-2.4,0-4.7-0.2-7-0.2c-2.1,0-4.2,0.2-6.3,0.2v-1.6 c1.9-0.5,2.7-0.9,2.7-3.5v-9.7c0-5.6-0.5-8.8-1.1-10.4c-0.6-1.6-1.4-2.1-3.3-2.4v-1.6c3.6-0.9,7.8-2.3,10.1-3.9H242.5z"></path> <path class="ctlogo3" d="M249.7,69.9c2.5-0.4,4.2-2.3,5.2-3.7l7.6-9.7l-9-12.2c-1.5-2-2-2.5-4.3-3.5v-1.6c2.3,0.1,4.8,0.2,7.1,0.2 c2.3,0,4.7-0.2,7-0.2v1.6c-0.9,0.5-1.6,0.6-1.6,1.8c0,0.5,0.2,1.6,0.9,2.5l4.3,5.9l3.8-5.1c0.8-1.1,1.2-2,1.2-2.6 c0-1.5-0.9-2-2.2-2.5v-1.6c2.1,0.1,4.1,0.2,6.3,0.2c2,0,4.2-0.2,6.2-0.2v1.6c-3.1,0.7-4.7,2.6-6.4,4.8l-6.7,8.5l8.5,11.8 c1.2,1.6,3,3.5,4.9,4.1v1.6c-2.3-0.1-4.6-0.2-7-0.2c-2.4,0-4.6,0.2-7,0.2v-1.6c0.9-0.1,1.6-0.9,1.6-1.7c0-0.5-0.6-1.7-1.3-2.7 l-4.2-6l-4.2,5.7c-0.5,0.7-1.1,2.2-1.1,2.9c0,1.2,0.6,1.6,1.6,1.8v1.6c-2-0.1-4.2-0.2-6.2-0.2c-1.7,0-3.4,0.2-5.1,0.2V69.9z"></path> <path class="ctlogo3" d="M303.4,54.7c-0.9-0.2-2.4-0.4-3.8-0.4c-3.6,0-7.4,1.9-7.4,6.9c0,3.6,2.8,6.3,6.1,6.3c2.4,0,4-0.5,5.2-1.3 L303.4,54.7z M288.1,47.1v-7.4c3.3-0.9,6.4-1.4,10.1-1.4c7,0,12.9,1.9,12.9,9.7c0,2.8-0.2,6.9-0.3,11.4V62c0,3.6,0.6,4.6,2.3,4.6 c0.4,0,1.1-0.1,1.7-0.3l1.2,1.2l-5.9,4.7c-3-0.4-5.3-1.9-6.3-3.8c-2.7,2-5.2,3.8-8.6,3.8c-5.3,0-10.6-3.3-10.6-9.1 c0-8.3,7.9-11.5,15-11.5c1.3,0,2.6,0.2,3.7,0.2c0-4.2-0.3-8.9-5.6-8.9c-3.8,0-5.8,1.3-7.8,4.2H288.1z"></path> <path class="ctlogo3" d="M331.3,45.4c1.6,0,2.9-0.1,4.2-0.1c7.5,0,11.9,5.3,11.9,12.4c0,6-4,10.9-10.7,10.9c-4.9,0-5.4-0.8-5.4-5V45.4z M322.9,64.8c0,3.4-1,4.5-4.5,4.9v1.4h13.5c1.1,0,2.2,0.1,3.2,0.2c1.1,0.1,2.2,0.2,3.2,0.2c8.5,0,18.6-3.3,18.6-13.4 c0-8.1-4.9-12.3-12.3-14.3v-0.2c5.9-1.9,11.3-6.2,11.3-12.8c0-10.2-10.5-13.9-19.2-13.9c-1.9,0-3.7,0.3-7.2,0.3 c-3.1,0-6.3-0.3-10.2-0.3v1.7c2.1,0.3,3.4,1,3.4,4c0,7,0.2,17,0.2,26.3V64.8z M331.7,21.2c0-1.5,0.9-1.6,3.1-1.6 c8.4,0,11.7,4.5,11.7,11.4c0,6.8-4.7,11.1-11.7,11.1c-1,0-2.1-0.1-3.5-0.2L331.7,21.2z"></path> <path class="ctlogo3" d="M393.8,43.7c2.3,0,3.4,1.3,3.4,3.6c0,2.5,0.4,6.7,0.4,11.3v7.7c0,2.7-0.9,3-2.9,3.7v1.6c2.2,0,4.5-0.2,6.6-0.2 c2.3,0,4.5,0.2,6.7,0.2v-1.6c-2.1-0.2-2.9-0.9-2.9-3.7v-6.4c0-6.1,0.2-10.5,0.2-13.4c0-2.9,5-3.7,6.6-3.7c5.6,0,6.4,5.8,6.4,10 v13.5c0,2.7-0.6,3.2-2.8,3.7v1.6c2.5,0,4.9-0.2,7.4-0.2c2,0,3.8,0.2,5.8,0.2v-1.6c-2.2-0.6-2.8-1.2-2.8-3.7V49.6 c0-6.6-3-11.3-10.8-11.3c-3.3,0-6.8,2-9.5,3.8c0.1-1.3,0.1-2.6,0.2-3.9h-1.6c-3,1.9-5.8,3-10.4,3.9V43.7z"></path> <path class="ctlogo3" d="M465.5,69.8c-2.3-0.7-5.2-3.2-6.2-4.4l-11.8-13.8l6-6.3c1.9-2,4.5-3.7,7.3-4.5v-1.6c-2,0.2-3.9,0.2-5.9,0.2 c-2.1,0-4.3-0.1-6.4-0.2v1.6c0.7,0.3,1.4,1.3,1.4,2c0,0.9-0.4,2-2,3.7l-6.4,6.3V15.9h-1.7c-2.8,2.1-6.5,3.7-10.4,4.8v1.8 c2,0,3.7,1.9,3.9,5.1c0.2,3,0.6,8.8,0.6,13.4v25.3c0,1.7-0.6,3.1-3,3.5v1.6c2.1-0.2,4.1-0.2,6.3-0.2c2.3,0,4.6,0.2,7,0.2v-1.6 c-1.9-0.4-2.7-1.3-2.7-3.7V55.4h0.2l8.1,8.8c1.3,1.5,2.3,3.3,2.3,4.1c0,0.8-0.5,1.4-1.2,1.4v1.6c2.7,0,5.3-0.2,8-0.2 c2.3,0,4.5,0.2,6.8,0.2V69.8z"></path> <rect x="142.4" y="86.4" class="ctlogo3" width="323.1" height="1.3"></rect> <path class="ctlogo3" d="M351.9,120.9h5.3l1.5-7c0.1-0.6,0.3-1.1,0.5-1.6c0.2-0.5,0.5-1,0.8-1.3c0.3-0.4,0.7-0.7,1.1-0.9 c0.4-0.2,0.9-0.3,1.5-0.3c0.7,0,1.2,0.2,1.6,0.5c0.3,0.4,0.5,0.8,0.5,1.2c0,0.4,0,0.8-0.1,1.2c-0.1,0.4-0.2,0.8-0.2,1.2l-1.5,7.1 h5.4l1.4-7.1c0.1-0.4,0.1-0.8,0.2-1c0.1-0.3,0.1-0.5,0.1-0.8c0-0.2,0-0.5,0.1-0.7c0-0.2,0-0.4,0-0.7c0-0.7-0.1-1.4-0.3-2.1 c-0.2-0.6-0.5-1.2-0.9-1.7c-0.4-0.5-0.9-0.8-1.5-1.1c-0.6-0.3-1.3-0.4-2-0.4c-1.2,0-2.3,0.3-3.2,0.7c-0.9,0.5-1.6,1.1-2.1,1.8H360 l1.9-8.9h-5.3L351.9,120.9z M350.5,116.8c-0.6,0.2-1.1,0.4-1.6,0.5c-0.5,0.1-1.1,0.2-1.8,0.2c-0.6,0-1.1-0.1-1.5-0.3 c-0.4-0.2-0.8-0.4-1.1-0.7c-0.3-0.3-0.6-0.7-0.7-1.1s-0.2-0.8-0.2-1.3c0-1.6,0.4-2.8,1.3-3.6c0.9-0.8,2-1.3,3.4-1.3 c0.6,0,1.2,0.1,1.7,0.2c0.6,0.1,1.1,0.3,1.7,0.6l1.1-3.7c-0.8-0.3-1.6-0.6-2.5-0.8c-0.9-0.2-1.7-0.3-2.3-0.3c-1.5,0-2.8,0.2-4,0.7 c-1.2,0.5-2.2,1.1-3.1,1.9c-0.9,0.8-1.5,1.8-2,2.9c-0.5,1.1-0.7,2.3-0.7,3.5c0,1,0.2,1.9,0.5,2.7c0.3,0.8,0.8,1.6,1.4,2.2 c0.6,0.6,1.4,1.1,2.3,1.5c0.9,0.4,1.9,0.6,3,0.6c1,0,1.9-0.1,2.6-0.2c0.7-0.1,1.3-0.2,1.9-0.4L350.5,116.8z M327.9,105.7 c-0.1,0.7-0.2,1.4-0.3,2c-0.1,0.7-0.2,1.3-0.4,2l-2.4,11.3h5.3l1.5-7c0.1-0.6,0.3-1.1,0.5-1.6c0.2-0.5,0.5-1,0.8-1.3 c0.3-0.4,0.7-0.7,1.1-0.9c0.4-0.2,0.9-0.3,1.5-0.3c0.5,0,1,0,1.3,0.1c0.4,0.1,0.8,0.3,1.1,0.5l1.2-4.7c-0.3-0.2-0.7-0.3-1.1-0.3 c-0.4,0-0.8-0.1-1.1-0.1c-0.5,0-1.1,0.1-1.5,0.3c-0.5,0.2-0.9,0.5-1.3,0.8c-0.4,0.3-0.8,0.7-1.1,1.1c-0.3,0.4-0.6,0.9-0.8,1.3h-0.1 l0.6-3.1H327.9z M317.3,120.9h4.3c0.1-1.1,0.3-2.2,0.5-3.2c0.2-1,0.4-1.9,0.6-2.8c0.2-0.9,0.4-1.7,0.5-2.4c0.1-0.7,0.2-1.4,0.2-2 c0-0.9-0.2-1.7-0.5-2.4c-0.4-0.7-0.8-1.2-1.4-1.6c-0.6-0.4-1.3-0.7-2.1-0.9c-0.8-0.2-1.7-0.3-2.6-0.3c-1.2,0-2.2,0.1-3.1,0.2 c-0.9,0.2-1.7,0.4-2.5,0.6l-0.5,3.8c0.9-0.4,1.7-0.8,2.4-0.9c0.7-0.2,1.6-0.3,2.5-0.3c0.9,0,1.6,0.2,2.1,0.6 c0.5,0.4,0.7,0.8,0.7,1.4v0.3c0,0.1,0,0.2-0.1,0.3c-0.4,0-0.8-0.1-1.3-0.1c-0.5,0-1,0-1.5,0c-1.2,0-2.3,0.1-3.3,0.4 c-1,0.2-1.9,0.6-2.7,1c-0.8,0.5-1.4,1-1.8,1.7c-0.4,0.7-0.7,1.5-0.7,2.5c0,1.5,0.4,2.6,1.3,3.3c0.9,0.7,2.1,1.1,3.8,1.1 c1,0,2-0.2,2.9-0.6c0.9-0.4,1.6-1,2.2-1.9v-0.1l0.1,0.1L317.3,120.9z M313.4,114.6c0.8-0.4,1.9-0.6,3.1-0.5c0.2,0,0.4,0,0.7,0 c0.3,0,0.5,0,0.7,0.1c-0.2,1-0.6,1.9-1.3,2.6c-0.7,0.7-1.6,1-2.7,1c-0.6,0-1-0.2-1.3-0.5c-0.3-0.3-0.5-0.7-0.5-1 C312.2,115.6,312.6,115,313.4,114.6 M303.6,116.7c-0.7,0.4-1.5,0.6-2.4,0.8c-0.9,0.2-1.7,0.3-2.4,0.3c-0.8,0-1.5-0.1-2-0.2 c-0.5-0.1-0.9-0.3-1.2-0.6c-0.3-0.3-0.5-0.6-0.6-0.9c-0.1-0.4-0.2-0.7-0.2-1.2h10.8c0.1-0.2,0.1-0.5,0.1-0.7c0-0.3,0.1-0.5,0.1-0.8 c0-0.3,0.1-0.5,0.1-0.7c0-0.2,0-0.4,0-0.6c0-1.1-0.2-2.1-0.5-3c-0.4-0.8-0.8-1.5-1.5-2.1c-0.6-0.5-1.4-0.9-2.2-1.2 c-0.9-0.3-1.8-0.4-2.8-0.4c-1.7,0-3.1,0.3-4.3,0.9c-1.2,0.6-2.1,1.4-2.8,2.3c-0.7,0.9-1.2,1.9-1.6,2.9c-0.3,1.1-0.5,2-0.5,2.9 c0,1,0.2,1.9,0.5,2.7c0.3,0.8,0.8,1.6,1.5,2.2c0.7,0.6,1.5,1.1,2.5,1.5c1,0.4,2.1,0.6,3.4,0.6c0.8,0,1.6-0.1,2.5-0.2 c0.9-0.1,1.9-0.4,2.8-0.6L303.6,116.7z M295.1,111.9c0.1-0.4,0.2-0.7,0.5-1.1c0.2-0.4,0.5-0.7,0.8-1c0.3-0.3,0.7-0.5,1.1-0.7 c0.4-0.2,0.9-0.3,1.5-0.3c0.5,0,0.9,0.1,1.2,0.2c0.3,0.2,0.6,0.4,0.8,0.7c0.2,0.3,0.3,0.6,0.4,1c0.1,0.4,0.1,0.7,0.1,1.2H295.1z M274.1,120.5c0.8,0.2,1.8,0.4,2.9,0.6c1.1,0.2,2.3,0.2,3.5,0.2c1,0,1.9-0.2,2.8-0.4c0.9-0.2,1.6-0.6,2.3-1.1 c0.6-0.5,1.2-1.1,1.5-1.8c0.4-0.7,0.6-1.5,0.6-2.5c0-0.6-0.2-1.2-0.5-1.6c-0.3-0.4-0.7-0.8-1.2-1.1c-0.5-0.3-1-0.6-1.6-0.8 c-0.6-0.2-1.1-0.4-1.6-0.6c-0.5-0.2-0.9-0.4-1.2-0.6c-0.3-0.2-0.5-0.4-0.5-0.7c0-0.3,0.1-0.5,0.2-0.6c0.1-0.2,0.3-0.3,0.6-0.4 c0.2-0.1,0.5-0.2,0.8-0.2c0.3,0,0.6-0.1,0.9-0.1c0.8,0,1.5,0.1,2.2,0.2c0.7,0.1,1.3,0.4,2,0.6l1.1-3.5c-1-0.3-1.9-0.5-2.8-0.7 c-0.9-0.1-1.6-0.2-2.3-0.2c-0.9,0-1.8,0.1-2.7,0.3c-0.9,0.2-1.7,0.5-2.5,0.9c-0.7,0.4-1.3,0.9-1.8,1.6c-0.5,0.6-0.7,1.4-0.7,2.3 c0,0.8,0.2,1.5,0.5,2c0.3,0.5,0.7,1,1.2,1.3c0.5,0.3,1,0.6,1.5,0.8c0.5,0.2,1,0.4,1.5,0.5c0.5,0.2,0.9,0.3,1.2,0.6 c0.3,0.2,0.5,0.5,0.5,0.9c0,0.3-0.1,0.6-0.3,0.7c-0.2,0.2-0.5,0.3-0.8,0.4c-0.3,0.1-0.6,0.1-1,0.2c-0.3,0-0.6,0-0.8,0 c-1.5,0-2.9-0.3-4.3-0.9L274.1,120.5z M271.1,116.7c-0.7,0.4-1.5,0.6-2.4,0.8c-0.9,0.2-1.7,0.3-2.4,0.3c-0.8,0-1.5-0.1-2-0.2 c-0.5-0.1-0.9-0.3-1.2-0.6c-0.3-0.3-0.5-0.6-0.6-0.9c-0.1-0.4-0.2-0.7-0.2-1.2h10.8c0.1-0.2,0.1-0.5,0.1-0.7c0-0.3,0.1-0.5,0.1-0.8 c0-0.3,0.1-0.5,0.1-0.7c0-0.2,0-0.4,0-0.6c0-1.1-0.2-2.1-0.5-3c-0.4-0.8-0.8-1.5-1.5-2.1c-0.6-0.5-1.4-0.9-2.2-1.2 c-0.9-0.3-1.8-0.4-2.8-0.4c-1.7,0-3.1,0.3-4.3,0.9c-1.2,0.6-2.1,1.4-2.8,2.3c-0.7,0.9-1.2,1.9-1.6,2.9c-0.3,1.1-0.5,2-0.5,2.9 c0,1,0.2,1.9,0.5,2.7c0.3,0.8,0.8,1.6,1.5,2.2c0.7,0.6,1.5,1.1,2.5,1.5c1,0.4,2.1,0.6,3.4,0.6c0.8,0,1.6-0.1,2.5-0.2 c0.9-0.1,1.9-0.4,2.8-0.6L271.1,116.7z M262.6,111.9c0.1-0.4,0.3-0.7,0.5-1.1c0.2-0.4,0.5-0.7,0.8-1c0.3-0.3,0.7-0.5,1.1-0.7 c0.4-0.2,0.9-0.3,1.5-0.3c0.5,0,0.9,0.1,1.2,0.2c0.3,0.2,0.6,0.4,0.8,0.7c0.2,0.3,0.4,0.6,0.4,1c0.1,0.4,0.1,0.7,0.1,1.2H262.6z M246.1,104.4h2.6c0.8,0,1.4,0.2,1.9,0.5c0.4,0.3,0.6,0.9,0.6,1.6c0,0.5-0.1,0.9-0.3,1.2c-0.2,0.3-0.5,0.6-0.9,0.8 c-0.4,0.2-0.8,0.3-1.3,0.4c-0.5,0.1-1.1,0.1-1.7,0.1h-1.8L246.1,104.4z M237.3,120.9h5.5l1.6-8.1h0.6c0.6,0,1.1,0,1.4,0.1 c0.4,0,0.6,0.2,0.8,0.4c0.2,0.2,0.4,0.5,0.5,0.9c0.1,0.4,0.2,0.9,0.4,1.6l1.1,5.2h5.4l-1.5-6.3c-0.1-0.3-0.2-0.7-0.3-1.1 c-0.1-0.4-0.3-0.8-0.4-1.2c-0.2-0.4-0.4-0.7-0.7-0.9c-0.3-0.3-0.6-0.4-1-0.4V111c0.8-0.1,1.5-0.3,2.3-0.5c0.7-0.2,1.4-0.5,1.9-0.9 c0.5-0.4,1-0.9,1.3-1.6c0.3-0.6,0.5-1.4,0.5-2.3c0-1.3-0.3-2.3-0.8-2.9c-0.5-0.7-1.2-1.2-2-1.5c-0.8-0.3-1.8-0.5-2.8-0.6 c-1-0.1-2-0.1-3-0.1h-6.5L237.3,120.9z"></path> </g> </svg> </a></div><nav role="navigation" aria-labelledby="block-caixabank-navegacionprincipal-menu" id="block-caixabank-navegacionprincipal"><h2 class="visually-hidden" id="block-caixabank-navegacionprincipal-menu">Navegación principal</h2><ul class="menu menu-level-0"><li class="menu-item"> <a href="/es" data-drupal-link-system-path="<front>">Inicio</a></li><li class="menu-item menu-item--expanded"> <a href="/es/economia-y-mercados" data-drupal-link-system-path="taxonomy/term/3">Economía y mercados</a><div class="menu-desplegable menu_visual_1"><div class="container menu_visual_1"><div class="col-left"><div class="content-visual-menu"><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-0 menu-type-default"><ul class="menu menu-level-1"><li class="menu-item"> <a href="/es/indicadores-y-previsiones" data-drupal-link-system-path="taxonomy/term/42">Indicadores y previsiones</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/economics-markets/analisis-coyuntura" data-drupal-link-system-path="taxonomy/term/21">Análisis de coyuntura</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/economics-markets/actividad-y-crecimiento" data-drupal-link-system-path="taxonomy/term/993">Actividad y crecimiento</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/economics-markets/inflacion" data-drupal-link-system-path="taxonomy/term/11">Inflación</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/economics-markets/materias-primas" data-drupal-link-system-path="taxonomy/term/6">Materias primas</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/economics-markets/mercado-laboral-y-demografia" data-drupal-link-system-path="taxonomy/term/12">Mercado laboral y demografía</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/economics-markets/mercados-financieros" data-drupal-link-system-path="taxonomy/term/4">Mercados financieros</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/economics-markets/politica-monetaria" data-drupal-link-system-path="taxonomy/term/5">Política monetaria</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/economics-markets/sector-publico" data-drupal-link-system-path="taxonomy/term/14">Sector público</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/economia-y-mercados" data-drupal-link-system-path="taxonomy/term/3">Ver todo sobre Economía y mercados</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li></ul></div></div></div><div class="js-view-dom-id-ecc37bb391adcc24ae522be3cbda70be2af6d78e929119a98bdd274126c7f88d col-right"><div class="content-article-menu"> <article data-history-node-id="12940" role="article" about="/es/economia-y-mercados/actividad-y-crecimiento/perspectivas-globales-2025-busca-nueva-normalidad" typeof="schema:Article" data-type="article"><div class="field_thumbnail field"><div class="field_media_image field"> <img src="/sites/default/files/styles/menu_destacado/public/content/image/2024/11/08/34529/ico_im_11_24_azul_n.jpg?itok=uV5BE-x5" width="400" height="200" alt="Perspectivas 2025" loading="lazy" typeof="foaf:Image" /></div></div><h2><a href="/es/economia-y-mercados/actividad-y-crecimiento/perspectivas-globales-2025-busca-nueva-normalidad"><span property="schema:name">Perspectivas globales 2025: en busca de una nueva normalidad</span></a></h2><div class="category primary_color"><div class="field_seccion field"> Dossier</div></div><div class="box_author_date box_ad box_with_image"><div class="field_author multiple"><div class="autor"><div about="/es/autor/jose-ramon-diez" class="author-complete-teaser"> <a href="/es/autor/jose-ramon-diez"><div class="field_fotografia field"><div class="field_media_image field"> <img src="/sites/default/files/styles/index_autor/public/content/image/2022/03/22/34454/joseramondiez-bn-cuadrada.jpg?itok=onBpj1ja" width="136" height="136" alt="José Ramón Díez" loading="lazy" typeof="foaf:Image" /></div></div><div class="author-info"><div class="nom"><div class="name field"> José Ramón Díez</div></div></div> </a></div></div></div><div class="created">12 de noviembre de 2024</div></div></article></div></div></div></div></li><li class="menu-item menu-item--expanded"> <a href="/es/analisis-sectorial" data-drupal-link-system-path="taxonomy/term/15">Análisis sectorial</a><div class="menu-desplegable menu_visual_1"><div class="container menu_visual_1"><div class="col-left"><div class="content-visual-menu"><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-0 menu-type-default"><ul class="menu menu-level-1"><li class="menu-item"> <a href="/es/sector-analysis/agroalimentario" data-drupal-link-system-path="taxonomy/term/16">Agroalimentario</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/sector-analysis/banca" data-drupal-link-system-path="taxonomy/term/17">Banca</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/sector-analysis/comercio-minorista" data-drupal-link-system-path="taxonomy/term/1073">Comercio minorista</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/sector-analysis/consumo" data-drupal-link-system-path="taxonomy/term/1075">Consumo</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/sector-analysis/digitalizacion" data-drupal-link-system-path="taxonomy/term/1079">Digitalización</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/sector-analysis/industria" data-drupal-link-system-path="taxonomy/term/1074">Industria</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/sector-analysis/inmobiliario" data-drupal-link-system-path="taxonomy/term/19">Inmobiliario</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/sector-analysis/turismo" data-drupal-link-system-path="taxonomy/term/20">Turismo</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/analisis-sectorial" data-drupal-link-system-path="taxonomy/term/15">Ver todo sobre Análisis sectorial</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li></ul></div></div></div><div class="js-view-dom-id-2293e9334c3787ba66a15f49bc603b75603c730a04057412f2947180a23fc192 col-right"><div class="content-article-menu"> <article data-history-node-id="12946" role="article" about="/es/analisis-sectorial/agroalimentario/sector-agroalimentario-comienza-salir-del-bache-2024" typeof="schema:Article" data-type="article"><div class="field_thumbnail field"><div class="field_media_image field"> <img src="/sites/default/files/styles/menu_destacado/public/content/image/2024/11/11/34529/agroalimentario-espana-michael-lechner-ky2e8df3gxo-unsplash.jpg?itok=xEymc3LH" width="400" height="200" alt="Campo de trigo segado. Photo by Michael Lechner on Unsplash" loading="lazy" typeof="foaf:Image" /></div></div><h2><a href="/es/analisis-sectorial/agroalimentario/sector-agroalimentario-comienza-salir-del-bache-2024"><span property="schema:name">El sector agroalimentario comienza a salir del bache en 2024</span></a></h2><div class="category primary_color"><div class="field_seccion field"> Economía española</div></div><div class="box_author_date box_ad box_with_image"><div class="field_author multiple"><div class="autor"><div about="/es/autor/pedro-alvarez-ondina" class="author-complete-teaser"> <a href="/es/autor/pedro-alvarez-ondina"><div class="field_fotografia field"><div class="field_media_image field"> <img src="/sites/default/files/styles/index_autor/public/content/image/2022/03/22/34454/pedroalvarez-bn-cuadrada.jpg?itok=UeXzHu7H" width="136" height="136" alt="Pedro Álvarez" loading="lazy" typeof="foaf:Image" /></div></div><div class="author-info"><div class="nom"><div class="name field"> Pedro Álvarez Ondina</div></div></div> </a></div></div></div><div class="created">12 de noviembre de 2024</div></div></article></div></div></div></div></li><li class="menu-item menu-item--expanded"> <a href="/es/areas-geograficas" data-drupal-link-system-path="taxonomy/term/211">Áreas geográficas</a><div class="menu-desplegable menu_visual_1"><div class="container menu_visual_1"><div class="col-left"><div class="content-visual-menu"><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-0 menu-type-default"><ul class="menu menu-level-1"><li class="menu-item"> <a href="/es/areas-geograficas/espana" data-drupal-link-system-path="taxonomy/term/212">España</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/areas-geograficas/portugal" data-drupal-link-system-path="taxonomy/term/213">Portugal</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/areas-geograficas/internacional" data-drupal-link-system-path="taxonomy/term/792">Internacional</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/areas-geograficas" data-drupal-link-system-path="taxonomy/term/211">Ver todo sobre Áreas geográficas</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li></ul></div></div></div><div class="js-view-dom-id-201dc68dadbe315e4ec63068178e91c90a16adb05a6a2963ce0cdafd325bf2cd col-right"><div class="content-article-menu"> <article data-history-node-id="12957" role="article" about="/es/analisis-sectorial/inmobiliario/mercado-inmobiliario-espanol-2024-2025-modo-expansivo" typeof="schema:Article" data-type="article"><div class="field_thumbnail field"><div class="field_media_image field"> <img src="/sites/default/files/styles/menu_destacado/public/content/image/2024/11/11/34529/inmobiliario-grua-tye-doring-a7xke_rxzrs-unsplash.jpg?itok=Q2DFdyye" width="400" height="200" alt="Grúas de construcción. Photo by Tye Doring on Unsplash" loading="lazy" typeof="foaf:Image" /></div></div><h2><a href="/es/analisis-sectorial/inmobiliario/mercado-inmobiliario-espanol-2024-2025-modo-expansivo"><span property="schema:name">Mercado inmobiliario español 2024-2025: en modo expansivo</span></a></h2><div class="category primary_color"><div class="field_seccion field"> Economía española</div></div><div class="box_author_date box_ad box_with_image"><div class="field_author multiple"><div class="autor"><div about="/es/autor/judit-montoriol-garriga" class="author-complete-teaser"> <a href="/es/autor/judit-montoriol-garriga"><div class="field_fotografia field"><div class="field_media_image field"> <img src="/sites/default/files/styles/index_autor/public/content/image/2019/12/05/1/juditmontoriol.jpg?itok=zOJfPpmw" width="136" height="136" alt="Judit Montoriol CaixaBank Research" loading="lazy" typeof="foaf:Image" /></div></div><div class="author-info"><div class="nom"><div class="name field"> Judit Montoriol Garriga</div></div></div> </a></div></div></div><div class="created">12 de noviembre de 2024</div></div></article></div></div></div></div></li><li class="menu-item menu-item--expanded"> <a href="/es/publicaciones" data-drupal-link-system-path="taxonomy/term/43">Publicaciones</a><div class="menu-desplegable menu_visual_4"><div class="container menu_visual_4"><div class="col-double"><div class="content-visual-menu"><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-0 menu-type-default"><ul class="menu menu-level-1"><li class="menu-item"> <a href="/es/publications/informe-mensual" data-drupal-link-system-path="taxonomy/term/48">Informe Mensual</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/publications/pulso-economico-semanal" data-drupal-link-system-path="taxonomy/term/52">Pulso Económico Semanal</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/publications/financial-markets-daily-report" data-drupal-link-system-path="taxonomy/term/47">Financial Markets Daily Report</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/publications/notas-breves-actualidad-economica-y-financiera" data-drupal-link-system-path="taxonomy/term/51">Notas Breves de Actualidad Económica y Financiera</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/publications/monitor-consumo" data-drupal-link-system-path="taxonomy/term/1044">Monitor de consumo</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/publications/informes-sectoriales" data-drupal-link-system-path="taxonomy/term/50">Informes Sectoriales</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/publicaciones/spains-macroeconomic-financial-outlook" data-drupal-link-system-path="node/2616">Spain's Macroeconomic & Financial Outlook</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/publications/fichas-comunidades-autonomas" data-drupal-link-system-path="taxonomy/term/1086">Fichas Comunidades Autónomas</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/publicaciones/portugals-macroeconomic-financial-outlook" data-drupal-link-system-path="node/2617">Portugal's Macroeconomic & Financial Outlook</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/publications/fichas-pais" data-drupal-link-system-path="taxonomy/term/46">Fichas País</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/publications/flash-divisas" data-drupal-link-system-path="taxonomy/term/1166">Flash Divisas</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/podcast" data-drupal-link-system-path="taxonomy/term/62">Pódcast Economía Exprés</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/video" data-drupal-link-system-path="taxonomy/term/61">Vídeos</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/publications/documentos-trabajo" data-drupal-link-system-path="taxonomy/term/53">Documentos de Trabajo</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/publicaciones/articulos-academicos" data-drupal-link-system-path="taxonomy/term/58">Artículos académicos</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/conferencias-economistas" data-drupal-link-system-path="taxonomy/term/73">Conferencias</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/publicaciones/hemeroteca" data-drupal-link-system-path="taxonomy/term/49">Hemeroteca</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li><li class="menu-item"> <a href="/es/publicaciones" data-drupal-link-system-path="taxonomy/term/43">Ver todo sobre Publicaciones</a><div class="menu_link_content menu-link-contentmain view-mode-default menu-dropdown menu-dropdown-1 menu-type-default"></div></li></ul></div></div></div></div></div></li><li class="menu-item"> <a href="https://realtimeeconomics.caixabankresearch.com/#/home?lang=CAS" target="_blank">Economía en tiempo real</a></li></ul> </nav><div id="block-caixabank-lupa" class="block block--fancy block_content:4f09ab03-9b04-4d1e-8887-01f5ffec8359 block-caixabank-lupa"> <svg xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink" version="1.1" id="Layer_1" x="0px" y="0px" width="23.234px" height="23.551px" viewBox="0 0 23.234 23.551" xml:space="preserve"> <circle fill="none" stroke="#009DDC" stroke-width="2" stroke-linecap="round" stroke-miterlimit="10" cx="9.852" cy="9.667" r="8.5"></circle> <line fill="none" stroke="#009DDC" stroke-width="2" stroke-linecap="round" stroke-miterlimit="10" x1="15.852" y1="16.167" x2="22.352" y2="22.667"></line> </svg></div></div></div></header><main role="main"> <a id="main-content" tabindex="-1"></a><div class="layout-content cercador container"><div class="context-header cercador "><div class="context-header-top"><div class="js-view-dom-id-9aaeedc92e9eacb3ded2a2d3989c093834cb9e97037916b5f9d532361d201a00 view-contexto-cercador-vocabularios"><div class="bread-level-0"></div><h1 class="bread-level-1"><a href="/es/tags/reserva-federal-fed" hreflang="es">Reserva Federal (Fed)</a><div class="btn search-button">Buscar</div></h1></div><form class="webform-submission-form webform-submission-add-form webform-submission-search-widget-form webform-submission-search-widget-add-form webform-submission-search-widget-taxonomy_term-462-form webform-submission-search-widget-taxonomy_term-462-add-form webform-submission-search-widget-taxonomy-term-462-add-form js-webform-details-toggle webform-details-toggle" data-drupal-selector="webform-submission-search-widget-taxonomy-term-462-add-form" action="/es/tags/reserva-federal-fed" method="post" id="webform-submission-search-widget-taxonomy-term-462-add-form" accept-charset="UTF-8"><div class="js-form-item form-item js-form-type-textfield form-item-text-search js-form-item-text-search form-no-label"> <label for="edit-text-search" class="visually-hidden">Busqueda por Texto</label> <input autocomplete="off" data-drupal-selector="edit-text-search" type="text" id="edit-text-search" name="text_search" value="" size="60" maxlength="255" placeholder="enter your search here" class="form-text" /></div><div class="js-form-item form-item js-form-type-select form-item-categoria js-form-item-categoria form-no-label"> <label for="edit-categoria" class="visually-hidden">Categoría</label> <select data-drupal-selector="edit-categoria" id="edit-categoria" name="categoria" class="form-select"><option value="All">Categories</option><option value="993">Actividad y crecimiento</option><option value="21">Análisis de coyuntura</option><option value="11">Inflación</option><option value="19">Inmobiliario</option><option value="12">Mercado laboral y demografía</option><option value="4">Mercados financieros</option><option value="5">Política monetaria</option></select></div><div style="display:none" class="js-form-item form-item js-form-type-date form-item-from js-form-item-from form-no-label"> <label for="edit-from--3" class="visually-hidden">From</label> <input min="2019-11-24" data-min-year="2019" max="2024-11-24" data-max-year="2024" data-days="1,2,3,4,5" type="date" placeholder="from date" data-drupal-selector="edit-from" data-drupal-date-format="Y-m-d" id="edit-from--3" name="from" value="" class="form-date" /></div><div style="display:none" data-drupal-states="{"visible":{":input[name=\u0022from\u0022]":{"filled":true}}}" class="js-webform-states-hidden js-form-item form-item js-form-type-date form-item-to js-form-item-to form-no-label"> <label for="edit-to--3" class="visually-hidden">To</label> <input min="2019-11-24" data-min-year="2019" max="2024-11-24" data-max-year="2024" data-days="1,2,3,4,5" type="date" placeholder="to date" data-drupal-selector="edit-to" data-drupal-date-format="Y-m-d" id="edit-to--3" name="to" value="" class="form-date" data-drupal-states="{"visible":{".webform-submission-search-widget-taxonomy_term-462-add-form :input[name=\u0022from\u0022]":{"filled":true}}}" /></div><input autocomplete="off" data-drupal-selector="form-wtusihcvgszb-eynr0twc4xv3fzhmjydq5nsajfe3ka" type="hidden" name="form_build_id" value="form-WtUsIHCVgsZB_eynr0twc4XV3FZHMJYDQ5NsajfE3KA" /><input data-drupal-selector="edit-webform-submission-search-widget-taxonomy-term-462-add-form" type="hidden" name="form_id" value="webform_submission_search_widget_taxonomy_term_462_add_form" /></form></div></div><div class="content"><div data-drupal-messages-fallback class="hidden"></div><div id="block-caixabank-content" class="block block--fancy system_main_block block-caixabank-content"><div about="/es/tags/reserva-federal-fed" typeof="schema:Thing" class="term tags llista_articles" class="three-col border-bottom"><form class="views-exposed-form" data-drupal-selector="views-exposed-form-lista-articulos-etiquetas" action="/es/tags/reserva-federal-fed" method="get" id="views-exposed-form-lista-articulos-etiquetas" accept-charset="UTF-8"><div class="js-form-item form-item js-form-type-textfield form-item-search js-form-item-search"> <label for="edit-search">Fulltext search</label> <input data-drupal-selector="edit-search" type="text" id="edit-search" name="search" value="" size="30" maxlength="128" class="form-text" /></div><div class="js-form-item form-item js-form-type-select form-item-category js-form-item-category"> <label for="edit-category">Category</label> <select data-drupal-selector="edit-category" id="edit-category" name="category" class="form-select"><option value="All" selected="selected">- Cualquiera -</option><option value="16">Agroalimentario</option><option value="21">Análisis de coyuntura</option><option value="1073">Comercio minorista</option><option value="1075">Consumo</option><option value="1079">Digitalización</option><option value="1074">Industria</option><option value="993">Actividad y crecimiento</option><option value="17">Banca</option><option value="19">Inmobiliario</option><option value="11">Inflación</option><option value="6">Materias primas</option><option value="20">Turismo</option><option value="12">Mercado laboral y demografía</option><option value="4">Mercados financieros</option><option value="5">Política monetaria</option><option value="14">Sector público</option><option value="3">Economía y mercados</option><option value="15">Análisis sectorial</option><option value="1207">Observatorio sectorial</option></select></div><div class="js-form-item form-item js-form-type-textfield form-item-from js-form-item-from"> <label for="edit-from">Authored on</label> <input data-drupal-selector="edit-from" type="text" id="edit-from" name="from" value="" size="30" maxlength="128" class="form-text" /></div><div class="js-form-item form-item js-form-type-textfield form-item-to js-form-item-to"> <label for="edit-to">Authored on</label> <input data-drupal-selector="edit-to" type="text" id="edit-to" name="to" value="" size="30" maxlength="128" class="form-text" /></div><div class="form-actions"> <input data-drupal-selector="edit-submit-lista-articulos" type="submit" id="edit-submit-lista-articulos" value="Aplicar" class="button js-form-submit form-submit" /></div></form><div class="three-col border-bottom view view-eva view-lista-articulos view-id-lista_articulos upper_menu_anchors view-display-id-etiquetas js-view-dom-id-17a6db20460a0ac70c0b9083062d11479125427f6e4ccff4dd9bc747ed8b0b5b"><div class="flex three-columns-gap20 wrap"> <article data-history-node-id="12965" role="article" about="/es/economia-y-mercados/analisis-coyuntura/tiempos-liquidos-economia-solida" typeof="schema:Article" class="node article teaser-llista-articles"> <a href="/es/economia-y-mercados/analisis-coyuntura/tiempos-liquidos-economia-solida"><div class="field_thumbnail field"><div class="field_media_image field"> <img src="/sites/default/files/styles/teaser/public/content/image/2024/11/11/34529/opinion-nubes-pintura-pawel-czerwinski-xqqd6jkdksm-unsplash.jpg?itok=rTaYpr4D" width="433" height="289" alt="Tintes líquidos de colores. Photo by Pawel Czerwinski on Unsplash" loading="lazy" typeof="foaf:Image" /></div></div> </a><div class="category "> <a href="/es/tags/opinion" hreflang="es">Opinión</a></div><h2 class="teaser_title"><a href="/es/economia-y-mercados/analisis-coyuntura/tiempos-liquidos-economia-solida"><span property="schema:name">Tiempos líquidos, ¿economía sólida?</span></a></h2><div class="autor-fecha slash"><div class="field_author single "><div class="autor"><div about="/es/autor/jose-ramon-diez" class="author-name-teaser"><div class="nom"><a href="/es/autor/jose-ramon-diez"><div class="name field"> José Ramón Díez</div> </a></div></div></div></div><div class="fecha"> 11 nov 2024</div></div></article><article data-history-node-id="12961" role="article" about="/es/economia-y-mercados/politica-monetaria/balances-normalizacion-no-tan-visible-politica-monetaria" typeof="schema:Article" class="node article teaser-llista-articles"> <a href="/es/economia-y-mercados/politica-monetaria/balances-normalizacion-no-tan-visible-politica-monetaria"><div class="field_thumbnail field"><div class="field_media_image field"> <img src="/sites/default/files/styles/teaser/public/content/image/2021/10/07/34529/politica-monetaria-engranaje.jpg?itok=wSbU3qk9" width="433" height="289" alt="Sobre la normalización de la política monetaria" loading="lazy" typeof="foaf:Image" /></div></div> </a><div class="category "> <a href="/es/economics-markets/politica-monetaria" hreflang="es">Política monetaria</a></div><h2 class="teaser_title"><a href="/es/economia-y-mercados/politica-monetaria/balances-normalizacion-no-tan-visible-politica-monetaria"><span property="schema:name">Balances: la normalización no tan visible de la política monetaria</span></a></h2><div class="autor-fecha slash"><div class="fecha"> 11 nov 2024</div></div></article><article data-history-node-id="12942" role="article" about="/es/economia-y-mercados/politica-monetaria/politica-monetaria-2025-hora-distension" typeof="schema:Article" class="node article teaser-llista-articles"> <a href="/es/economia-y-mercados/politica-monetaria/politica-monetaria-2025-hora-distension"><div class="field_thumbnail field"><div class="field_media_image field"> <img src="/sites/default/files/styles/teaser/public/content/image/2024/11/08/34529/ico_im_11_24_verde_n.jpg?itok=se-c1mh6" width="433" height="289" alt="Perspectivas 2025" loading="lazy" typeof="foaf:Image" /></div></div> </a><div class="category "> <a href="/es/economia-y-mercados" hreflang="es">Economía y mercados</a></div><h2 class="teaser_title"><a href="/es/economia-y-mercados/politica-monetaria/politica-monetaria-2025-hora-distension"><span property="schema:name">Política monetaria 2025: la hora de la distensión</span></a></h2><div class="autor-fecha slash"><div class="field_author single author_no_photo "><div class="autor"><div about="/es/autor/caixabank-research" class="author-name-teaser"><div class="nom"><div class="name field"> CaixaBank Research</div></div></div></div></div><div class="fecha"> 11 nov 2024</div></div></article><article data-history-node-id="12960" role="article" about="/es/publicaciones/notas-breves-actualidad-economica-y-financiera/observatorio-bancos-centrales/fed-da" class="node brief-note teaser-llista-articles"> <a href="/es/publicaciones/notas-breves-actualidad-economica-y-financiera/observatorio-bancos-centrales/fed-da"><div class="field_imagen field"><div class="field_media_image field"> <img src="/sites/default/files/styles/teaser/public/content/image/2022/06/21/49/ico_nb_fed_0.jpg?itok=ZcZAVlD0" width="433" height="289" alt="FED" loading="lazy" typeof="foaf:Image" /></div></div> </a><div class="category "> <a href="/es/tags/reserva-federal-fed" hreflang="es">Reserva Federal (Fed)</a></div><h2 class="teaser_title"><a href="/es/publicaciones/notas-breves-actualidad-economica-y-financiera/observatorio-bancos-centrales/fed-da"><span>La Fed da un paso de 25 tras el salto de 50</span></a></h2><div class="autor-fecha slash"><div class="field_author single "><div class="autor"><div about="/es/autor/isabela-lara-white" class="author-name-teaser"><div class="nom"><a href="/es/autor/isabela-lara-white"><div class="name field"> Isabela Lara White</div> </a></div></div></div></div><div class="fecha"> 8 nov 2024</div></div></article><article data-history-node-id="12941" role="article" about="/es/publicaciones/notas-breves-actualidad-economica-y-financiera/observatorio-bancos-centrales/fed-63" class="node brief-note teaser-llista-articles"> <a href="/es/publicaciones/notas-breves-actualidad-economica-y-financiera/observatorio-bancos-centrales/fed-63"><div class="field_imagen field"><div class="field_media_image field"> <img src="/sites/default/files/styles/teaser/public/content/image/2022/06/21/49/ico_nb_fed_0.jpg?itok=ZcZAVlD0" width="433" height="289" alt="FED" loading="lazy" typeof="foaf:Image" /></div></div> </a><div class="category "> <a href="/es/tags/reserva-federal-fed" hreflang="es">Reserva Federal (Fed)</a></div><h2 class="teaser_title"><a href="/es/publicaciones/notas-breves-actualidad-economica-y-financiera/observatorio-bancos-centrales/fed-63"><span>La Fed encara una segunda bajada de tipos</span></a></h2><div class="autor-fecha slash"><div class="field_author single "><div class="autor"><div about="/es/autor/isabela-lara-white" class="author-name-teaser"><div class="nom"><a href="/es/autor/isabela-lara-white"><div class="name field"> Isabela Lara White</div> </a></div></div></div></div><div class="fecha"> 5 nov 2024</div></div></article><article data-history-node-id="12830" role="article" about="/es/economia-y-mercados/politica-monetaria/nuevo-escenario-economico-modesto-deterioro-expectativas" typeof="schema:Article" class="node article teaser-llista-articles"> <a href="/es/economia-y-mercados/politica-monetaria/nuevo-escenario-economico-modesto-deterioro-expectativas"><div class="field_thumbnail field"><div class="field_media_image field"> <img src="/sites/default/files/styles/teaser/public/content/image/2023/10/05/34529/brujula-absolutvision-uCMKx2H1Y38-unsplash.jpg?itok=m75-HmEU" width="433" height="289" alt="Brújula. Photo by Absolutvision on Unsplash" loading="lazy" typeof="foaf:Image" /></div></div> </a><div class="category "> <a href="/es/economics-markets/analisis-coyuntura" hreflang="es">Análisis de coyuntura</a></div><h2 class="teaser_title"><a href="/es/economia-y-mercados/politica-monetaria/nuevo-escenario-economico-modesto-deterioro-expectativas"><span property="schema:name">Nuevo escenario económico: modesto deterioro de las expectativas de crecimiento para la economía internacional</span></a></h2><div class="autor-fecha slash"><div class="field_author single "><div class="autor"><div about="/es/autor/rita-sanchez-soliva" class="author-name-teaser"><div class="nom"><a href="/es/autor/rita-sanchez-soliva"><div class="name field"> Rita Sánchez Soliva</div> </a></div></div></div></div><div class="fecha"> 14 oct 2024</div></div></article><article data-history-node-id="12813" role="article" about="/es/podcast/economia-y-mercados/analisis-coyuntura/todo-lo-necesitas-saber-sobre-economia-internacional" class="node podcast teaser-llista-articles"> <a href="/es/podcast/economia-y-mercados/analisis-coyuntura/todo-lo-necesitas-saber-sobre-economia-internacional"><div class="field_imagen field"> <img loading="lazy" src="/sites/default/files/styles/podcast_wide/public/content/image/2024/06/27/49/ico_podcasts_v2.jpg?h=31c0c765&itok=0w1GYY6f" width="433" height="289" alt="Economía Exprés" typeof="foaf:Image" /></div> </a><div class="category "> <a href="/es/tags/podcast" hreflang="es">Pódcast</a></div><h2 class="teaser_title"><a href="/es/podcast/economia-y-mercados/analisis-coyuntura/todo-lo-necesitas-saber-sobre-economia-internacional"><span>Todo lo que necesitas saber sobre economía internacional para empezar bien el otoño</span></a></h2><div class="autor-fecha slash"><div class="field_author multiple "><div class="autor"><div about="/es/autor/patricia-esteban" class="author-name-teaser"><div class="nom"><a href="/es/autor/patricia-esteban"><div class="name field"> Patricia Esteban</div> </a></div></div></div><div class="autor"><div about="/es/autor/jose-ramon-diez" class="author-name-teaser"><div class="nom"><a href="/es/autor/jose-ramon-diez"><div class="name field"> José Ramón Díez</div> </a></div></div></div></div><div class="fecha"> 26 sep 2024</div></div></article><article data-history-node-id="12805" role="article" about="/es/publicaciones/notas-breves-actualidad-economica-y-financiera/observatorio-bancos-centrales/fed-62" class="node brief-note teaser-llista-articles"> <a href="/es/publicaciones/notas-breves-actualidad-economica-y-financiera/observatorio-bancos-centrales/fed-62"><div class="field_imagen field"><div class="field_media_image field"> <img src="/sites/default/files/styles/teaser/public/content/image/2022/06/21/49/ico_nb_fed_0.jpg?itok=ZcZAVlD0" width="433" height="289" alt="FED" loading="lazy" typeof="foaf:Image" /></div></div> </a><div class="category "> <a href="/es/tags/reserva-federal-fed" hreflang="es">Reserva Federal (Fed)</a></div><h2 class="teaser_title"><a href="/es/publicaciones/notas-breves-actualidad-economica-y-financiera/observatorio-bancos-centrales/fed-62"><span>La Fed baja 50 p. b. y señala el inicio de distención de la política monetaria</span></a></h2><div class="autor-fecha slash"><div class="field_author single "><div class="autor"><div about="/es/autor/isabela-lara-white" class="author-name-teaser"><div class="nom"><a href="/es/autor/isabela-lara-white"><div class="name field"> Isabela Lara White</div> </a></div></div></div></div><div class="fecha"> 19 sep 2024</div></div></article><article data-history-node-id="12797" role="article" about="/es/publicaciones/notas-breves-actualidad-economica-y-financiera/observatorio-bancos-centrales-119" class="node brief-note teaser-llista-articles"> <a href="/es/publicaciones/notas-breves-actualidad-economica-y-financiera/observatorio-bancos-centrales-119"><div class="field_imagen field"><div class="field_media_image field"> <img src="/sites/default/files/styles/teaser/public/content/image/2022/06/21/49/ico_nb_fed_0.jpg?itok=ZcZAVlD0" width="433" height="289" alt="FED" loading="lazy" typeof="foaf:Image" /></div></div> </a><div class="category "> <a href="/es/tags/reserva-federal-fed" hreflang="es">Reserva Federal (Fed)</a></div><h2 class="teaser_title"><a href="/es/publicaciones/notas-breves-actualidad-economica-y-financiera/observatorio-bancos-centrales-119"><span>Reserva Federal: ¿la primera bajada será de 25 o 50? </span></a></h2><div class="autor-fecha slash"><div class="field_author single "><div class="autor"><div about="/es/autor/isabela-lara-white" class="author-name-teaser"><div class="nom"><a href="/es/autor/isabela-lara-white"><div class="name field"> Isabela Lara White</div> </a></div></div></div></div><div class="fecha"> 13 sep 2024</div></div></article><article data-history-node-id="12780" role="article" about="/es/economia-y-mercados/mercados-financieros/tormentas-veraniegas-y-corrientes-fondo" typeof="schema:Article" class="node article teaser-llista-articles"> <a href="/es/economia-y-mercados/mercados-financieros/tormentas-veraniegas-y-corrientes-fondo"><div class="field_thumbnail field"><div class="field_media_image field"> <img src="/sites/default/files/styles/teaser/public/content/image/2024/09/09/34529/opinion-tormenta-brandon-morgan-lhdst1-f2bc-unsplash.jpg?itok=v9LhzKSi" width="433" height="289" alt="Tormenta eléctrica. Photo bty Brandon Morgan on Unsplash" loading="lazy" typeof="foaf:Image" /></div></div> </a><div class="category "> <a href="/es/tags/opinion" hreflang="es">Opinión</a></div><h2 class="teaser_title"><a href="/es/economia-y-mercados/mercados-financieros/tormentas-veraniegas-y-corrientes-fondo"><span property="schema:name">Tormentas veraniegas y corrientes de fondo</span></a></h2><div class="autor-fecha slash"><div class="field_author single "><div class="autor"><div about="/es/autor/jose-ramon-diez" class="author-name-teaser"><div class="nom"><a href="/es/autor/jose-ramon-diez"><div class="name field"> José Ramón Díez</div> </a></div></div></div></div><div class="fecha"> 10 sep 2024</div></div></article><article data-history-node-id="12751" role="article" about="/es/publicaciones/notas-breves-actualidad-economica-y-financiera/observatorio-bancos-centrales/fed-61" class="node brief-note teaser-llista-articles"> <a href="/es/publicaciones/notas-breves-actualidad-economica-y-financiera/observatorio-bancos-centrales/fed-61"><div class="field_imagen field"><div class="field_media_image field"> <img src="/sites/default/files/styles/teaser/public/content/image/2022/06/21/49/ico_nb_fed_0.jpg?itok=ZcZAVlD0" width="433" height="289" alt="FED" loading="lazy" typeof="foaf:Image" /></div></div> </a><div class="category "> <a href="/es/tags/reserva-federal-fed" hreflang="es">Reserva Federal (Fed)</a></div><h2 class="teaser_title"><a href="/es/publicaciones/notas-breves-actualidad-economica-y-financiera/observatorio-bancos-centrales/fed-61"><span>La Fed prepara el terreno para bajar tipos en septiembre </span></a></h2><div class="autor-fecha slash"><div class="field_author single "><div class="autor"><div about="/es/autor/isabela-lara-white" class="author-name-teaser"><div class="nom"><a href="/es/autor/isabela-lara-white"><div class="name field"> Isabela Lara White</div> </a></div></div></div></div><div class="fecha"> 1 ago 2024</div></div></article><article data-history-node-id="12730" role="article" about="/es/publicaciones/notas-breves-actualidad-economica-y-financiera/observatorio-bancos-centrales/fed-mas" class="node brief-note teaser-llista-articles"> <a href="/es/publicaciones/notas-breves-actualidad-economica-y-financiera/observatorio-bancos-centrales/fed-mas"><div class="field_imagen field"><div class="field_media_image field"> <img src="/sites/default/files/styles/teaser/public/content/image/2022/06/21/49/ico_nb_fed_0.jpg?itok=ZcZAVlD0" width="433" height="289" alt="FED" loading="lazy" typeof="foaf:Image" /></div></div> </a><div class="category "> <a href="/es/tags/reserva-federal-fed" hreflang="es">Reserva Federal (Fed)</a></div><h2 class="teaser_title"><a href="/es/publicaciones/notas-breves-actualidad-economica-y-financiera/observatorio-bancos-centrales/fed-mas"><span>La Fed: con más confianza en julio, aunque no la suficiente todavía</span></a></h2><div class="autor-fecha slash"><div class="field_author single "><div class="autor"><div about="/es/autor/isabela-lara-white" class="author-name-teaser"><div class="nom"><a href="/es/autor/isabela-lara-white"><div class="name field"> Isabela Lara White</div> </a></div></div></div></div><div class="fecha"> 26 jul 2024</div></div></article><article data-history-node-id="12643" role="article" about="/es/economia-y-mercados/mercados-financieros/mercados-al-albur-elecciones-y-incertidumbre-politica" typeof="schema:Article" class="node article teaser-llista-articles"> <a href="/es/economia-y-mercados/mercados-financieros/mercados-al-albur-elecciones-y-incertidumbre-politica"><div class="field_thumbnail field"><div class="field_media_image field"> <img src="/sites/default/files/styles/teaser/public/content/image/2024/07/03/34455/ico_im_07_24_mf.jpg?itok=9u3b3pvi" width="433" height="289" alt="ico_im_07_24_mf.jpg" loading="lazy" typeof="foaf:Image" /></div></div> </a><div class="category "> <a href="/es/etiquetes/coyuntura-mercados-financieros" hreflang="es">Coyuntura de mercados financieros</a></div><h2 class="teaser_title"><a href="/es/economia-y-mercados/mercados-financieros/mercados-al-albur-elecciones-y-incertidumbre-politica"><span property="schema:name">Los mercados, al albur de las elecciones y la incertidumbre política en junio</span></a></h2><div class="autor-fecha slash"><div class="field_author single author_no_photo "><div class="autor"><div about="/es/autor/caixabank-research" class="author-name-teaser"><div class="nom"><div class="name field"> CaixaBank Research</div></div></div></div></div><div class="fecha"> 4 jul 2024</div></div></article><article data-history-node-id="12563" role="article" about="/es/publicaciones/notas-breves-actualidad-economica-y-financiera/observatorio-bancos-centrales/fed-60" class="node brief-note teaser-llista-articles"> <a href="/es/publicaciones/notas-breves-actualidad-economica-y-financiera/observatorio-bancos-centrales/fed-60"><div class="field_imagen field"><div class="field_media_image field"> <img src="/sites/default/files/styles/teaser/public/content/image/2022/06/21/49/ico_nb_fed_0.jpg?itok=ZcZAVlD0" width="433" height="289" alt="FED" loading="lazy" typeof="foaf:Image" /></div></div> </a><div class="category "> <a href="/es/tags/reserva-federal-fed" hreflang="es">Reserva Federal (Fed)</a></div><h2 class="teaser_title"><a href="/es/publicaciones/notas-breves-actualidad-economica-y-financiera/observatorio-bancos-centrales/fed-60"><span>La Fed sigue sin ver clara aún la bajada de tipos</span></a></h2><div class="autor-fecha slash"><div class="field_author single "><div class="autor"><div about="/es/autor/isabela-lara-white" class="author-name-teaser"><div class="nom"><a href="/es/autor/isabela-lara-white"><div class="name field"> Isabela Lara White</div> </a></div></div></div></div><div class="fecha"> 13 jun 2024</div></div></article><article data-history-node-id="12556" role="article" about="/es/economia-y-mercados/mercados-financieros/incertidumbre-perspectiva-tipos-interes" typeof="schema:Article" class="node article teaser-llista-articles"> <a href="/es/economia-y-mercados/mercados-financieros/incertidumbre-perspectiva-tipos-interes"><div class="field_thumbnail field"><div class="field_media_image field"> <img src="/sites/default/files/styles/teaser/public/content/image/2024/06/11/34455/ico_im_06_24_mf.jpg?itok=N6zsUAb_" width="433" height="289" alt="ico_im_06_24_mf.jpg" loading="lazy" typeof="foaf:Image" /></div></div> </a><div class="category "> <a href="/es/etiquetes/coyuntura-mercados-financieros" hreflang="es">Coyuntura de mercados financieros</a></div><h2 class="teaser_title"><a href="/es/economia-y-mercados/mercados-financieros/incertidumbre-perspectiva-tipos-interes"><span property="schema:name">Incertidumbre en la perspectiva de los tipos de interés</span></a></h2><div class="autor-fecha slash"><div class="field_author single author_no_photo "><div class="autor"><div about="/es/autor/caixabank-research" class="author-name-teaser"><div class="nom"><div class="name field"> CaixaBank Research</div></div></div></div></div><div class="fecha"> 13 jun 2024</div></div></article></div> <nav class="pager" role="navigation" aria-labelledby="pagination-heading"><h4 id="pagination-heading" class="visually-hidden">Paginación</h4><ul class="pager__items js-pager__items"><li class="pager__item is-active"> <a href="?page=0" title="Página actual"> <span class="visually-hidden"> Página actual </span>1</a></li><li class="pager__item"> <a href="?page=1" title="Go to page 2"> <span class="visually-hidden"> Page </span>2</a></li><li class="pager__item"> <a href="?page=2" title="Go to page 3"> <span class="visually-hidden"> Page </span>3</a></li><li class="pager__item"> <a href="?page=3" title="Go to page 4"> <span class="visually-hidden"> Page </span>4</a></li><li class="pager__item"> <a href="?page=4" title="Go to page 5"> <span class="visually-hidden"> Page </span>5</a></li><li class="pager__item"> <a href="?page=5" title="Go to page 6"> <span class="visually-hidden"> Page </span>6</a></li><li class="pager__item"> <a href="?page=6" title="Go to page 7"> <span class="visually-hidden"> Page </span>7</a></li><li class="pager__item"> <a href="?page=7" title="Go to page 8"> <span class="visually-hidden"> Page </span>8</a></li><li class="pager__item"> <a href="?page=8" title="Go to page 9"> <span class="visually-hidden"> Page </span>9</a></li><li class="pager__item pager__item--ellipsis" role="presentation">…</li><li class="pager__item pager__item--next"> <a href="?page=1" title="Ir a la página siguiente" rel="next"> <span class="visually-hidden">Siguiente página</span> <span aria-hidden="true">›</span> </a></li><li class="pager__item pager__item--last"> <a href="?page=16" title="Ir a la última página"> <span class="visually-hidden">Última página</span> <span aria-hidden="true">»</span> </a></li></ul> </nav></div><div class="node_view"></div></div></div></div></div></main><footer role="contentinfo"><div class="container"><div class="logo_caixa_footer"> <a href="https://www.caixabankresearch.com/es" title="CaixaBank Research footer logo"> <svg xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink" version="1.1" x="0px" y="0px" viewBox="0 0 469.7 126" style="enable-background:new 0 0 469.7 126;" xml:space="preserve"> <g> <path class="st0" d="M35.3,52.9c1,0.7,0.9,2,1.8,2.7l0.4,3l-2.2,3.2c-2.8,1.5-6.9,2.1-9.5-0.2c-1.5-1.3-1.9-3.2-1.5-5.1l1-2.8 c0.6-0.4,1.4-0.5,1.8-1.2c1.4-0.9,3.1-0.7,4.7-1C33,51.9,34.8,51.2,35.3,52.9"></path> <path class="st0" d="M28.1,70.7c0.9,0,1.5,0.6,2.3,0.5c1.2,0.4,1,1.9,2.2,2.2c0.9,1.9,1.5,3.9,2,5.9c-0.3,1.2,0.6,1.9,0.3,2.9 l0.3,0.2c0,1.1-0.1,2.4-0.5,3.5c0.2,2-0.8,3.8-1.7,5.5c-0.6,0.4-0.9,1.5-1.8,1.3c-1.6,0.5-1.7,2.8-3.6,2.6 c-1.2,0.9-2.9,0.4-4.3,0.4c-0.8-0.4-2-0.3-2.6-1.1c-1.5-0.6-2.8-1.7-4.1-2.7c-0.5-1.1-1.6-1.6-1.8-2.8c0.4-1.5-0.5-2.8-0.1-4.3 l-0.3-2.4l0.9-4.2c1.6-0.8,1.1-2.7,2.7-3.3c1-2.2,3.3-2.7,5.1-3.9c0.7-0.1,1.5,0.2,2.1-0.4C26.3,70.4,27.2,71.5,28.1,70.7"></path> <path class="st0" d="M107.8,5.6c-0.4,6.9-6.1,11.5-9,17.3c-1.3,3.5-4.3,5.5-6.5,8.6c-2,2-3.9,4.2-5.5,6.5c0.3,1.6,2,2.1,3,3.2 c2.2,1.3,2.4,3.8,4.3,5.3c1.1,0,1.1,1.7,2.3,1.5c2.6,2.8,4.7,5.7,6.8,8.7c0.3,1.1,0.9,2.1,1.8,2.9c1.7,2.5,3.1,5.1,4.9,7.7 c0.2,2.8,2.6,4.7,3.4,7.4c1.1,1.4,1.5,3.1,2.5,4.5c1.5,3.3,2.5,6.8,4.3,10c0.3,0.7-0.1,1.5-0.5,2c-0.7,0.5-1.2-0.4-2-0.3 c-4-1.5-7.8-3.6-11.5-5.8c-3.8-3.1-8-5.3-11.8-8.5c-1.5-0.4-2.1-2.1-3.4-2.8c-3.6-2.3-6.5-5.5-10.2-7.6c-1.7-1.3-3.3-2.5-5-3.8 c-1.3-0.1-1.7-1.6-2.9-2.1c-2.7-1.7-5.2-4-8-5.5c-0.2,0.4,0,1-0.2,1.4c-1.9,1.8-1.4,4.6-2.7,6.6c0,2.9-2.1,5-2.9,7.5 c-2.3,4.1-4.3,8.3-6.7,12.4c-3.2,4.2-4.9,9.3-9.4,12.7c-1,1.2-2.1,1.9-3.3,2.6c-0.5-0.2-1.3-0.1-1.5-0.7c-0.5-1,0.1-2.6-0.6-3.5 c0.6-1.4,0.2-3,0.5-4.6L38,88.5c0-2.1,1.1-4,0.7-6.2c0.6-1.4,0.8-2.9,1-4.4c0.7-1.9,1.3-3.9,1.5-5.9c0.6-1.2,0.9-2.7,0.7-4.1 c0.5-1.3,0.6-2.8,1.9-3.7c0.2-0.8,0-1.7,0.1-2.5c1.3-4,2.9-7.9,4-12c0-0.3-0.3-0.4-0.5-0.4c-2.9-0.1-5.6,0.4-8.3-0.3 c-4.4-0.1-8.8-0.6-13-1.5c-1.7-0.3-3.8-0.1-5.3-1.1c-1,0-2.2,0.2-3.2-0.3c-2-1-4.4-0.8-6.4-1.9c-1.5,0.2-2.6-0.8-4-0.9 c-1.3,0.1-2.1-1-3-1.8v-0.4c2.4-3.3,6.4-4.2,9.9-5.5c3.5-1.1,7.3-1.2,10.9-1.9c2.3-0.4,4.8,0.2,7.1-0.1c4.2,0.1,8.2,0.8,12.3,0.9 c1.4,0.2,2.6,0.8,4,0.8l0-0.6l-3.9-5.3c-1.5-3.4-4.1-6.3-5.1-9.9c-0.9-1.1-0.1-2.7-0.7-3.9c0-0.5,0.4-0.9,0.6-1.4 c0.8-0.3,1.8,0.2,2.6-0.3c2.5,0.6,4.8,1.5,7.3,2c2.6,1,5.2,2.1,7.5,3.8c2.9,2,6.4,3.4,8.6,6.5c0.6,0.5,1.5,0.6,2.3,0.4 c0.7-0.1,0.8-0.9,1.5-1.2c3-1.9,6.4-3,9.4-5.1c1.2-1.2,3.2-1.4,3.9-3c0.9-0.4,1.8-1,2.7-1.3c1.7-1.2,3.4-2.5,5.3-3.5 c1-0.1,1.8-0.6,2.5-1.2c3-1.7,6.2-3,9.1-4.9c0.6-1.7,2.5-1.3,3.9-1.7C106.5,4.8,107.5,4.7,107.8,5.6"></path> <rect x="142.4" y="85.2" class="st0" width="323.1" height="1.3"></rect> <rect x="142.4" y="86.4" class="st0" width="323.1" height="1.3"></rect> <path class="st0" d="M366.5,47.1c2-2.9,3.9-4.1,7.7-4.1c5.3,0,5.6,4.7,5.6,8.9c-1.1,0-2.4-0.2-3.7-0.2c-7.1,0-15,3.2-15,11.5 c0,5.8,5.2,9.1,10.6,9.1c3.4,0,5.9-1.9,8.6-3.8c0.9,2,3.3,3.4,6.2,3.8l5.9-4.7l-1.2-1.2c-0.5,0.2-1.3,0.3-1.6,0.3 c-1.7,0-2.3-1-2.3-4.6v-2.7c0.1-4.5,0.3-8.5,0.3-11.3c0-7.8-5.9-9.7-12.9-9.7c-3.7,0-6.8,0.5-10.1,1.4v7.4H366.5z M380.1,66.2 c-1.3,0.8-2.8,1.3-5.2,1.3c-3.3,0-6.1-2.7-6.1-6.3c0-5,3.8-6.9,7.4-6.9c1.4,0,2.9,0.2,3.7,0.4L380.1,66.2z"></path> <path class="st0" d="M192.7,27.3h-3.4c-2.5-7.5-10.3-10.5-17.2-10.5c-13.9,0-19.7,11.2-19.7,24.7c0,22.6,16.4,26.5,23,26.5 c6.5,0,12.4-2.8,15.9-8.4l2.5,1l-2.5,8.9c-6.4,1.2-10.4,1.8-15.6,1.8c-23.9,0-34.4-14.8-34.4-29.2c0-16.5,12.7-28.7,30.7-28.7 c10.4,0,14.4,1.8,20.1,3.2L192.7,27.3z"></path> <path class="st0" d="M217.1,54.7c-0.9-0.2-2.4-0.4-3.8-0.4c-3.6,0-7.4,1.9-7.4,6.9c0,3.6,2.8,6.3,6.1,6.3c2.4,0,4-0.5,5.3-1.3 L217.1,54.7z M201.8,47.1v-7.4c3.3-0.9,6.4-1.4,10.1-1.4c7,0,12.9,1.9,12.9,9.7c0,2.8-0.2,6.9-0.3,11.4V62c0,3.6,0.6,4.6,2.4,4.6 c0.4,0,1.1-0.1,1.6-0.3l1.2,1.2l-5.9,4.7c-3-0.4-5.3-1.9-6.3-3.8c-2.7,2-5.2,3.8-8.6,3.8c-5.3,0-10.6-3.3-10.6-9.1 c0-8.3,7.9-11.5,15-11.5c1.3,0,2.6,0.2,3.7,0.2c0-4.2-0.3-8.9-5.6-8.9c-3.8,0-5.8,1.3-7.8,4.2H201.8z"></path> <path class="st0" d="M238.6,25.1c2.3,0,4.3,1.6,4.3,4c0,2.3-2,4-4.3,4c-2.3,0-4.3-1.6-4.3-4C234.3,26.7,236.3,25.1,238.6,25.1 M242.5,38.3c0,3.3,0.3,10.2,0.3,16.6v11.4c0,2.7,1.2,3.1,3.1,3.5v1.6c-2.4,0-4.7-0.2-7-0.2c-2.1,0-4.2,0.2-6.3,0.2v-1.6 c1.9-0.5,2.7-0.9,2.7-3.5v-9.7c0-5.6-0.5-8.8-1.1-10.4c-0.6-1.6-1.4-2.1-3.3-2.4v-1.6c3.6-0.9,7.8-2.3,10.1-3.9H242.5z"></path> <path class="st0" d="M249.7,69.9c2.5-0.4,4.2-2.3,5.2-3.7l7.6-9.7l-9-12.2c-1.5-2-2-2.5-4.3-3.5v-1.6c2.3,0.1,4.8,0.2,7.1,0.2 c2.3,0,4.7-0.2,7-0.2v1.6c-0.9,0.5-1.6,0.6-1.6,1.8c0,0.5,0.2,1.6,0.9,2.5l4.3,5.9l3.8-5.1c0.8-1.1,1.2-2,1.2-2.6 c0-1.5-0.9-2-2.2-2.5v-1.6c2.1,0.1,4.1,0.2,6.3,0.2c2,0,4.2-0.2,6.2-0.2v1.6c-3.1,0.7-4.7,2.6-6.4,4.8l-6.7,8.5l8.5,11.8 c1.2,1.6,3,3.5,4.9,4.1v1.6c-2.3-0.1-4.6-0.2-7-0.2c-2.4,0-4.6,0.2-7,0.2v-1.6c0.9-0.1,1.6-0.9,1.6-1.7c0-0.5-0.6-1.7-1.3-2.7 l-4.2-6l-4.2,5.7c-0.5,0.7-1.1,2.2-1.1,2.9c0,1.2,0.6,1.6,1.6,1.8v1.6c-2-0.1-4.2-0.2-6.2-0.2c-1.7,0-3.4,0.2-5.1,0.2V69.9z"></path> <path class="st0" d="M303.4,54.7c-0.9-0.2-2.4-0.4-3.8-0.4c-3.6,0-7.4,1.9-7.4,6.9c0,3.6,2.8,6.3,6.1,6.3c2.4,0,4-0.5,5.2-1.3 L303.4,54.7z M288.1,47.1v-7.4c3.3-0.9,6.4-1.4,10.1-1.4c7,0,12.9,1.9,12.9,9.7c0,2.8-0.2,6.9-0.3,11.4V62c0,3.6,0.6,4.6,2.3,4.6 c0.4,0,1.1-0.1,1.7-0.3l1.2,1.2l-5.9,4.7c-3-0.4-5.3-1.9-6.3-3.8c-2.7,2-5.2,3.8-8.6,3.8c-5.3,0-10.6-3.3-10.6-9.1 c0-8.3,7.9-11.5,15-11.5c1.3,0,2.6,0.2,3.7,0.2c0-4.2-0.3-8.9-5.6-8.9c-3.8,0-5.8,1.3-7.8,4.2H288.1z"></path> <path class="st0" d="M331.3,45.4c1.6,0,2.9-0.1,4.2-0.1c7.5,0,11.9,5.3,11.9,12.4c0,6-4,10.9-10.7,10.9c-4.9,0-5.4-0.8-5.4-5V45.4z M322.9,64.8c0,3.4-1,4.5-4.5,4.9v1.4h13.5c1.1,0,2.2,0.1,3.2,0.2c1.1,0.1,2.2,0.2,3.2,0.2c8.5,0,18.6-3.3,18.6-13.4 c0-8.1-4.9-12.3-12.3-14.3v-0.2c5.9-1.9,11.3-6.2,11.3-12.8c0-10.2-10.5-13.9-19.2-13.9c-1.9,0-3.7,0.3-7.2,0.3 c-3.1,0-6.3-0.3-10.2-0.3v1.7c2.1,0.3,3.4,1,3.4,4c0,7,0.2,17,0.2,26.3V64.8z M331.7,21.2c0-1.5,0.9-1.6,3.1-1.6 c8.4,0,11.7,4.5,11.7,11.4c0,6.8-4.7,11.1-11.7,11.1c-1,0-2.1-0.1-3.5-0.2L331.7,21.2z"></path> <path class="st0" d="M393.8,43.7c2.3,0,3.4,1.3,3.4,3.6c0,2.5,0.4,6.7,0.4,11.3v7.7c0,2.7-0.9,3-2.9,3.7v1.6c2.2,0,4.5-0.2,6.6-0.2 c2.3,0,4.5,0.2,6.7,0.2v-1.6c-2.1-0.2-2.9-0.9-2.9-3.7v-6.4c0-6.1,0.2-10.5,0.2-13.4c0-2.9,5-3.7,6.6-3.7c5.6,0,6.4,5.8,6.4,10 v13.5c0,2.7-0.6,3.2-2.8,3.7v1.6c2.5,0,4.9-0.2,7.4-0.2c2,0,3.8,0.2,5.8,0.2v-1.6c-2.2-0.6-2.8-1.2-2.8-3.7V49.6 c0-6.6-3-11.3-10.8-11.3c-3.3,0-6.8,2-9.5,3.8c0.1-1.3,0.1-2.6,0.2-3.9h-1.6c-3,1.9-5.8,3-10.4,3.9V43.7z"></path> <path class="st0" d="M465.5,69.8c-2.3-0.7-5.2-3.2-6.2-4.4l-11.8-13.8l6-6.3c1.9-2,4.5-3.7,7.3-4.5v-1.6c-2,0.2-3.9,0.2-5.9,0.2 c-2.1,0-4.3-0.1-6.4-0.2v1.6c0.7,0.3,1.4,1.3,1.4,2c0,0.9-0.4,2-2,3.7l-6.4,6.3V15.9h-1.7c-2.8,2.1-6.5,3.7-10.4,4.8v1.8 c2,0,3.7,1.9,3.9,5.1c0.2,3,0.6,8.8,0.6,13.4v25.3c0,1.7-0.6,3.1-3,3.5v1.6c2.1-0.2,4.1-0.2,6.3-0.2c2.3,0,4.6,0.2,7,0.2v-1.6 c-1.9-0.4-2.7-1.3-2.7-3.7V55.4h0.2l8.1,8.8c1.3,1.5,2.3,3.3,2.3,4.1c0,0.8-0.5,1.4-1.2,1.4v1.6c2.7,0,5.3-0.2,8-0.2 c2.3,0,4.5,0.2,6.8,0.2V69.8z"></path> <rect x="142.4" y="86.4" class="st0" width="323.1" height="1.3"></rect> <path class="st0" d="M351.9,120.9h5.3l1.5-7c0.1-0.6,0.3-1.1,0.5-1.6c0.2-0.5,0.5-1,0.8-1.3c0.3-0.4,0.7-0.7,1.1-0.9 c0.4-0.2,0.9-0.3,1.5-0.3c0.7,0,1.2,0.2,1.6,0.5c0.3,0.4,0.5,0.8,0.5,1.2c0,0.4,0,0.8-0.1,1.2c-0.1,0.4-0.2,0.8-0.2,1.2l-1.5,7.1 h5.4l1.4-7.1c0.1-0.4,0.1-0.8,0.2-1c0.1-0.3,0.1-0.5,0.1-0.8c0-0.2,0-0.5,0.1-0.7c0-0.2,0-0.4,0-0.7c0-0.7-0.1-1.4-0.3-2.1 c-0.2-0.6-0.5-1.2-0.9-1.7c-0.4-0.5-0.9-0.8-1.5-1.1c-0.6-0.3-1.3-0.4-2-0.4c-1.2,0-2.3,0.3-3.2,0.7c-0.9,0.5-1.6,1.1-2.1,1.8H360 l1.9-8.9h-5.3L351.9,120.9z M350.5,116.8c-0.6,0.2-1.1,0.4-1.6,0.5c-0.5,0.1-1.1,0.2-1.8,0.2c-0.6,0-1.1-0.1-1.5-0.3 c-0.4-0.2-0.8-0.4-1.1-0.7c-0.3-0.3-0.6-0.7-0.7-1.1s-0.2-0.8-0.2-1.3c0-1.6,0.4-2.8,1.3-3.6c0.9-0.8,2-1.3,3.4-1.3 c0.6,0,1.2,0.1,1.7,0.2c0.6,0.1,1.1,0.3,1.7,0.6l1.1-3.7c-0.8-0.3-1.6-0.6-2.5-0.8c-0.9-0.2-1.7-0.3-2.3-0.3c-1.5,0-2.8,0.2-4,0.7 c-1.2,0.5-2.2,1.1-3.1,1.9c-0.9,0.8-1.5,1.8-2,2.9c-0.5,1.1-0.7,2.3-0.7,3.5c0,1,0.2,1.9,0.5,2.7c0.3,0.8,0.8,1.6,1.4,2.2 c0.6,0.6,1.4,1.1,2.3,1.5c0.9,0.4,1.9,0.6,3,0.6c1,0,1.9-0.1,2.6-0.2c0.7-0.1,1.3-0.2,1.9-0.4L350.5,116.8z M327.9,105.7 c-0.1,0.7-0.2,1.4-0.3,2c-0.1,0.7-0.2,1.3-0.4,2l-2.4,11.3h5.3l1.5-7c0.1-0.6,0.3-1.1,0.5-1.6c0.2-0.5,0.5-1,0.8-1.3 c0.3-0.4,0.7-0.7,1.1-0.9c0.4-0.2,0.9-0.3,1.5-0.3c0.5,0,1,0,1.3,0.1c0.4,0.1,0.8,0.3,1.1,0.5l1.2-4.7c-0.3-0.2-0.7-0.3-1.1-0.3 c-0.4,0-0.8-0.1-1.1-0.1c-0.5,0-1.1,0.1-1.5,0.3c-0.5,0.2-0.9,0.5-1.3,0.8c-0.4,0.3-0.8,0.7-1.1,1.1c-0.3,0.4-0.6,0.9-0.8,1.3h-0.1 l0.6-3.1H327.9z M317.3,120.9h4.3c0.1-1.1,0.3-2.2,0.5-3.2c0.2-1,0.4-1.9,0.6-2.8c0.2-0.9,0.4-1.7,0.5-2.4c0.1-0.7,0.2-1.4,0.2-2 c0-0.9-0.2-1.7-0.5-2.4c-0.4-0.7-0.8-1.2-1.4-1.6c-0.6-0.4-1.3-0.7-2.1-0.9c-0.8-0.2-1.7-0.3-2.6-0.3c-1.2,0-2.2,0.1-3.1,0.2 c-0.9,0.2-1.7,0.4-2.5,0.6l-0.5,3.8c0.9-0.4,1.7-0.8,2.4-0.9c0.7-0.2,1.6-0.3,2.5-0.3c0.9,0,1.6,0.2,2.1,0.6 c0.5,0.4,0.7,0.8,0.7,1.4v0.3c0,0.1,0,0.2-0.1,0.3c-0.4,0-0.8-0.1-1.3-0.1c-0.5,0-1,0-1.5,0c-1.2,0-2.3,0.1-3.3,0.4 c-1,0.2-1.9,0.6-2.7,1c-0.8,0.5-1.4,1-1.8,1.7c-0.4,0.7-0.7,1.5-0.7,2.5c0,1.5,0.4,2.6,1.3,3.3c0.9,0.7,2.1,1.1,3.8,1.1 c1,0,2-0.2,2.9-0.6c0.9-0.4,1.6-1,2.2-1.9v-0.1l0.1,0.1L317.3,120.9z M313.4,114.6c0.8-0.4,1.9-0.6,3.1-0.5c0.2,0,0.4,0,0.7,0 c0.3,0,0.5,0,0.7,0.1c-0.2,1-0.6,1.9-1.3,2.6c-0.7,0.7-1.6,1-2.7,1c-0.6,0-1-0.2-1.3-0.5c-0.3-0.3-0.5-0.7-0.5-1 C312.2,115.6,312.6,115,313.4,114.6 M303.6,116.7c-0.7,0.4-1.5,0.6-2.4,0.8c-0.9,0.2-1.7,0.3-2.4,0.3c-0.8,0-1.5-0.1-2-0.2 c-0.5-0.1-0.9-0.3-1.2-0.6c-0.3-0.3-0.5-0.6-0.6-0.9c-0.1-0.4-0.2-0.7-0.2-1.2h10.8c0.1-0.2,0.1-0.5,0.1-0.7c0-0.3,0.1-0.5,0.1-0.8 c0-0.3,0.1-0.5,0.1-0.7c0-0.2,0-0.4,0-0.6c0-1.1-0.2-2.1-0.5-3c-0.4-0.8-0.8-1.5-1.5-2.1c-0.6-0.5-1.4-0.9-2.2-1.2 c-0.9-0.3-1.8-0.4-2.8-0.4c-1.7,0-3.1,0.3-4.3,0.9c-1.2,0.6-2.1,1.4-2.8,2.3c-0.7,0.9-1.2,1.9-1.6,2.9c-0.3,1.1-0.5,2-0.5,2.9 c0,1,0.2,1.9,0.5,2.7c0.3,0.8,0.8,1.6,1.5,2.2c0.7,0.6,1.5,1.1,2.5,1.5c1,0.4,2.1,0.6,3.4,0.6c0.8,0,1.6-0.1,2.5-0.2 c0.9-0.1,1.9-0.4,2.8-0.6L303.6,116.7z M295.1,111.9c0.1-0.4,0.2-0.7,0.5-1.1c0.2-0.4,0.5-0.7,0.8-1c0.3-0.3,0.7-0.5,1.1-0.7 c0.4-0.2,0.9-0.3,1.5-0.3c0.5,0,0.9,0.1,1.2,0.2c0.3,0.2,0.6,0.4,0.8,0.7c0.2,0.3,0.3,0.6,0.4,1c0.1,0.4,0.1,0.7,0.1,1.2H295.1z M274.1,120.5c0.8,0.2,1.8,0.4,2.9,0.6c1.1,0.2,2.3,0.2,3.5,0.2c1,0,1.9-0.2,2.8-0.4c0.9-0.2,1.6-0.6,2.3-1.1 c0.6-0.5,1.2-1.1,1.5-1.8c0.4-0.7,0.6-1.5,0.6-2.5c0-0.6-0.2-1.2-0.5-1.6c-0.3-0.4-0.7-0.8-1.2-1.1c-0.5-0.3-1-0.6-1.6-0.8 c-0.6-0.2-1.1-0.4-1.6-0.6c-0.5-0.2-0.9-0.4-1.2-0.6c-0.3-0.2-0.5-0.4-0.5-0.7c0-0.3,0.1-0.5,0.2-0.6c0.1-0.2,0.3-0.3,0.6-0.4 c0.2-0.1,0.5-0.2,0.8-0.2c0.3,0,0.6-0.1,0.9-0.1c0.8,0,1.5,0.1,2.2,0.2c0.7,0.1,1.3,0.4,2,0.6l1.1-3.5c-1-0.3-1.9-0.5-2.8-0.7 c-0.9-0.1-1.6-0.2-2.3-0.2c-0.9,0-1.8,0.1-2.7,0.3c-0.9,0.2-1.7,0.5-2.5,0.9c-0.7,0.4-1.3,0.9-1.8,1.6c-0.5,0.6-0.7,1.4-0.7,2.3 c0,0.8,0.2,1.5,0.5,2c0.3,0.5,0.7,1,1.2,1.3c0.5,0.3,1,0.6,1.5,0.8c0.5,0.2,1,0.4,1.5,0.5c0.5,0.2,0.9,0.3,1.2,0.6 c0.3,0.2,0.5,0.5,0.5,0.9c0,0.3-0.1,0.6-0.3,0.7c-0.2,0.2-0.5,0.3-0.8,0.4c-0.3,0.1-0.6,0.1-1,0.2c-0.3,0-0.6,0-0.8,0 c-1.5,0-2.9-0.3-4.3-0.9L274.1,120.5z M271.1,116.7c-0.7,0.4-1.5,0.6-2.4,0.8c-0.9,0.2-1.7,0.3-2.4,0.3c-0.8,0-1.5-0.1-2-0.2 c-0.5-0.1-0.9-0.3-1.2-0.6c-0.3-0.3-0.5-0.6-0.6-0.9c-0.1-0.4-0.2-0.7-0.2-1.2h10.8c0.1-0.2,0.1-0.5,0.1-0.7c0-0.3,0.1-0.5,0.1-0.8 c0-0.3,0.1-0.5,0.1-0.7c0-0.2,0-0.4,0-0.6c0-1.1-0.2-2.1-0.5-3c-0.4-0.8-0.8-1.5-1.5-2.1c-0.6-0.5-1.4-0.9-2.2-1.2 c-0.9-0.3-1.8-0.4-2.8-0.4c-1.7,0-3.1,0.3-4.3,0.9c-1.2,0.6-2.1,1.4-2.8,2.3c-0.7,0.9-1.2,1.9-1.6,2.9c-0.3,1.1-0.5,2-0.5,2.9 c0,1,0.2,1.9,0.5,2.7c0.3,0.8,0.8,1.6,1.5,2.2c0.7,0.6,1.5,1.1,2.5,1.5c1,0.4,2.1,0.6,3.4,0.6c0.8,0,1.6-0.1,2.5-0.2 c0.9-0.1,1.9-0.4,2.8-0.6L271.1,116.7z M262.6,111.9c0.1-0.4,0.3-0.7,0.5-1.1c0.2-0.4,0.5-0.7,0.8-1c0.3-0.3,0.7-0.5,1.1-0.7 c0.4-0.2,0.9-0.3,1.5-0.3c0.5,0,0.9,0.1,1.2,0.2c0.3,0.2,0.6,0.4,0.8,0.7c0.2,0.3,0.4,0.6,0.4,1c0.1,0.4,0.1,0.7,0.1,1.2H262.6z M246.1,104.4h2.6c0.8,0,1.4,0.2,1.9,0.5c0.4,0.3,0.6,0.9,0.6,1.6c0,0.5-0.1,0.9-0.3,1.2c-0.2,0.3-0.5,0.6-0.9,0.8 c-0.4,0.2-0.8,0.3-1.3,0.4c-0.5,0.1-1.1,0.1-1.7,0.1h-1.8L246.1,104.4z M237.3,120.9h5.5l1.6-8.1h0.6c0.6,0,1.1,0,1.4,0.1 c0.4,0,0.6,0.2,0.8,0.4c0.2,0.2,0.4,0.5,0.5,0.9c0.1,0.4,0.2,0.9,0.4,1.6l1.1,5.2h5.4l-1.5-6.3c-0.1-0.3-0.2-0.7-0.3-1.1 c-0.1-0.4-0.3-0.8-0.4-1.2c-0.2-0.4-0.4-0.7-0.7-0.9c-0.3-0.3-0.6-0.4-1-0.4V111c0.8-0.1,1.5-0.3,2.3-0.5c0.7-0.2,1.4-0.5,1.9-0.9 c0.5-0.4,1-0.9,1.3-1.6c0.3-0.6,0.5-1.4,0.5-2.3c0-1.3-0.3-2.3-0.8-2.9c-0.5-0.7-1.2-1.2-2-1.5c-0.8-0.3-1.8-0.5-2.8-0.6 c-1-0.1-2-0.1-3-0.1h-6.5L237.3,120.9z"></path> </g></svg> </a></div><div class="footer_middle"><div id="block-caixabank-footeren" class="block block--fancy block_content:581d223e-ffb2-4303-ab5f-67abdba50ca2 block-caixabank-footeren"><div class="paragraph ptype_pr-linked-logos pmode_comunes"></div><div class="paragraph ptype_pr-links pmode_comunes"> <a href="/es/conocenos">Sobre CaixaBank Research</a> <a href="/es/work-us/inicio">Trabaja con nosotros</a> <a href="/es/equipo">Equipo</a> <a href="/es/contact">Contacto</a> <a href="https://www.caixabank.com/home_es.html" target="_blank">CaixaBank</a></div><div class="paragraph ptype_pr-simple-text pmode_default"></div></div><div id="block-caixabank-bottomlinksen" class="block block--fancy block_content:292aa62c-a399-4816-a143-e01cfac7326a block-caixabank-bottomlinksen"><div class="paragraph ptype_pr-links pmode_comunes"> <a href="https://www.caixabankresearch.com/es/cookies_policy" target="_blank">Información sobre las cookies usadas</a></div><div class="paragraph ptype_pr-links pmode_comunes"> <a href="https://www.caixabank.es/particular/seguridad/seguridad_es.html" target="_blank">Seguridad</a> <a href="https://www.caixabank.com/informacionprivacidad" target="_blank">Privacidad</a> <a href="https://www.caixabank.com/general/avisolegal_es.html" target="_blank">Aviso legal</a></div></div></div><div class="newsletter"> <a title="Twitter Link" class="social-bottom twitter-link" target="_blank" href="https://twitter.com/CABK_Research"> <svg version="1.1" id="logo_twitter" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink" x="0px" y="0px" width="22.328px" height="18.146px" viewBox="0 0 22.328 18.146" enable-background="new 0 0 22.328 18.146" xml:space="preserve"> <path fill="#FFFFFF" d="M22.328,2.148c-0.82,0.365-1.703,0.611-2.631,0.721c0.946-0.566,1.672-1.464,2.014-2.534 c-0.885,0.525-1.864,0.906-2.908,1.112C17.966,0.557,16.776,0,15.458,0c-2.529,0-4.581,2.052-4.581,4.581 c0,0.359,0.041,0.708,0.119,1.044C7.19,5.435,3.814,3.61,1.555,0.838c-0.394,0.678-0.62,1.465-0.62,2.305 c0,1.589,0.808,2.991,2.037,3.812c-0.75-0.023-1.457-0.229-2.074-0.572C0.897,6.4,0.897,6.419,0.897,6.439 c0,2.219,1.579,4.071,3.675,4.492c-0.384,0.104-0.789,0.16-1.207,0.16c-0.295,0-0.582-0.028-0.862-0.082 c0.583,1.819,2.275,3.144,4.279,3.181c-1.568,1.229-3.543,1.961-5.689,1.961c-0.37,0-0.734-0.022-1.093-0.064 c2.028,1.301,4.436,2.06,7.022,2.06c8.426,0,13.033-6.981,13.033-13.034c0-0.198-0.005-0.396-0.013-0.593 C20.937,3.874,21.714,3.066,22.328,2.148"></path> </svg> </a> <a title="Spotify Link" class="social-bottom spotify-link" target="_blank" href="https://open.spotify.com/show/2Fe9ugalc3XYJjRKiInYNQ?go=1&sp_cid=f43ad2b90a329108a9629db7693b3d42&nd=1"> <svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 496 512" width="22.328px" height="18.146px"> <path fill="#fff" d="M248 8C111.1 8 0 119.1 0 256s111.1 248 248 248 248-111.1 248-248S384.9 8 248 8Z"/> <path d="M406.6 231.1c-5.2 0-8.4-1.3-12.9-3.9-71.2-42.5-198.5-52.7-280.9-29.7-3.6 1-8.1 2.6-12.9 2.6-13.2 0-23.3-10.3-23.3-23.6 0-13.6 8.4-21.3 17.4-23.9 35.2-10.3 74.6-15.2 117.5-15.2 73 0 149.5 15.2 205.4 47.8 7.8 4.5 12.9 10.7 12.9 22.6 0 13.6-11 23.3-23.2 23.3zm-31 76.2c-5.2 0-8.7-2.3-12.3-4.2-62.5-37-155.7-51.9-238.6-29.4-4.8 1.3-7.4 2.6-11.9 2.6-10.7 0-19.4-8.7-19.4-19.4s5.2-17.8 15.5-20.7c27.8-7.8 56.2-13.6 97.8-13.6 64.9 0 127.6 16.1 177 45.5 8.1 4.8 11.3 11 11.3 19.7-.1 10.8-8.5 19.5-19.4 19.5zm-26.9 65.6c-4.2 0-6.8-1.3-10.7-3.6-62.4-37.6-135-39.2-206.7-24.5-3.9 1-9 2.6-11.9 2.6-9.7 0-15.8-7.7-15.8-15.8 0-10.3 6.1-15.2 13.6-16.8 81.9-18.1 165.6-16.5 237 26.2 6.1 3.9 9.7 7.4 9.7 16.5s-7.1 15.4-15.2 15.4z"/> </svg> </a> <a href="/es/user/newsletter" class="btn-newsletter">Newsletters</a></div></div></footer></div><script>window.dataLayer = window.dataLayer || []; window.dataLayer.push({"referer":null,"full_url":"https:\/\/www.caixabankresearch.com\/es\/tags\/reserva-federal-fed","site":"prod","event":"imPageView","page":{"id":"es\/tags\/reserva-federal-fed","type":"","title":"\/es\/tags\/reserva-federal-fed","language":"es"},"content":{"detailType":"tag"},"user":{"isLogged":"not_logged"},"error":[]});</script><script type="application/json" data-drupal-selector="drupal-settings-json">{"path":{"baseUrl":"\/","scriptPath":null,"pathPrefix":"es\/","currentPath":"taxonomy\/term\/462","currentPathIsAdmin":false,"isFront":false,"currentLanguage":"es"},"pluralDelimiter":"\u0003","suppressDeprecationErrors":true,"dataLayer":{"defaultLang":"en","languages":{"ca":{"id":"ca","name":"catal\u00e1n","direction":"ltr","weight":-10},"es":{"id":"es","name":"Espa\u00f1ol","direction":"ltr","weight":-10},"en":{"id":"en","name":"ingl\u00e9s","direction":"ltr","weight":-9}}},"ajaxTrustedUrl":{"\/es\/tags\/reserva-federal-fed":true,"form_action_p_pvdeGsVG5zNF_XLGPTvYSKCf43t8qZYSwcfZl2uzM":true,"\/search":true},"webform":{"dateFirstDay":1},"cookies":{"cookiesjsr":{"config":{"cookie":{"name":"cookiesjsr","expires":31536000000,"domain":"","sameSite":"Lax","secure":false},"library":{"libBasePath":"\/libraries\/cookiesjsr\/dist","libPath":"\/libraries\/cookiesjsr\/dist\/cookiesjsr.min.js","scrollLimit":0},"callback":{"method":"post","url":"\/es\/cookies\/consent\/callback.json","headers":[]},"interface":{"openSettingsHash":"#editCookieSettings","showDenyAll":true,"denyAllOnLayerClose":false,"settingsAsLink":true,"availableLangs":["ca","es","en"],"defaultLang":"en","groupConsent":false,"cookieDocs":true}},"services":{"functional":{"id":"functional","services":[{"key":"functional","type":"functional","name":"Funcional","info":{"value":"\u003Ctable\u003E\r\n\t\u003Cthead\u003E\r\n\t\t\u003Ctr\u003E\r\n\t\t\t\u003Cth width=\u002215%\u0022\u003ECookie name\u003C\/th\u003E\r\n\t\t\t\u003Cth width=\u002215%\u0022\u003EDefault expiration time\u003C\/th\u003E\r\n\t\t\t\u003Cth\u003EDescription\u003C\/th\u003E\r\n\t\t\u003C\/tr\u003E\r\n\t\u003C\/thead\u003E\r\n\t\u003Ctbody\u003E\r\n\t\t\u003Ctr\u003E\r\n\t\t\t\u003Ctd\u003E\u003Ccode dir=\u0022ltr\u0022 translate=\u0022no\u0022\u003ESSESS\u0026lt;ID\u0026gt;\u003C\/code\u003E\u003C\/td\u003E\r\n\t\t\t\u003Ctd\u003E1 month\u003C\/td\u003E\r\n\t\t\t\u003Ctd\u003EIf you are logged in to this website, a session cookie is required to identify and connect your browser to your user account in the server backend of this website.\u003C\/td\u003E\r\n\t\t\u003C\/tr\u003E\r\n\t\t\u003Ctr\u003E\r\n\t\t\t\u003Ctd\u003E\u003Ccode dir=\u0022ltr\u0022 translate=\u0022no\u0022\u003Ecookiesjsr\u003C\/code\u003E\u003C\/td\u003E\r\n\t\t\t\u003Ctd\u003E1 year\u003C\/td\u003E\r\n\t\t\t\u003Ctd\u003EWhen you visited this website for the first time, you were asked for your permission to use several services (including those from third parties) that require data to be saved in your browser (cookies, local storage). Your decisions about each service (allow, deny) are stored in this cookie and are reused each time you visit this website.\u003C\/td\u003E\r\n\t\t\u003C\/tr\u003E\r\n\t\u003C\/tbody\u003E\r\n\u003C\/table\u003E\r\n","format":"full_html"},"uri":"","needConsent":false}],"weight":1},"marketing":{"id":"marketing","services":[{"key":"analytics","type":"marketing","name":"An\u00e1lisis","info":{"value":"","format":"basic_html"},"uri":"","needConsent":true}],"weight":20},"performance":{"id":"performance","services":[{"key":"gtag","type":"performance","name":"Rendimiento","info":{"value":"","format":"basic_html"},"uri":"","needConsent":true}],"weight":30},"video":{"id":"video","services":[{"key":"video","type":"video","name":"V\u00eddeo","info":{"value":"","format":"basic_html"},"uri":"","needConsent":true}],"weight":40}},"translation":{"_core":{"default_config_hash":"S5qrJju_o31uC1fwXosZ8Nlja2Wps6Gn0mMCAebY1Zw"},"langcode":"es","bannerText":"CaixaBank utiliza cookies propias y de terceros para analizar tus h\u00e1bitos de navegaci\u00f3n con el fin de elaborar datos, personalizar tu experiencia de navegaci\u00f3n (por ejemplo, el idioma) y la publicidad, e incluso mostrar publicidad adaptada al perfil creado en funci\u00f3n de tus h\u00e1bitos de navegaci\u00f3n. Haz clic en \u0022Configuraci\u00f3n de cookie\u0022 para obtener m\u00e1s informaci\u00f3n, configurar o rechazar su uso. O bien, puedes aceptar todas las cookies haciendo clic en \u201cAceptar\u201d.","privacyPolicy":"Pol\u00edtica de privacidad","privacyUri":"","imprint":"Imprint","imprintUri":"","cookieDocs":"Documentaci\u00f3n de cookies","cookieDocsUri":"\/es\/cookies-policy","denyAll":"Rechazar","alwaysActive":"Obligatorias","settings":"Configuraci\u00f3n de cookie","acceptAll":"Aceptar","requiredCookies":"Cookies necesarias","cookieSettings":"Configuraci\u00f3n de cookie","close":"Cerrar","readMore":"Read more","allowed":"Allowed","denied":"Denied","settingsAllServices":"Settings for all services","saveSettings":"Guardar","default_langcode":"es","disclaimerText":"All cookie information is subject to change by the service providers. We update this information regularly.","disclaimerTextPosition":"above","processorDetailsLabel":"Processor Company Details","processorLabel":"Company","processorWebsiteUrlLabel":"Company Website","processorPrivacyPolicyUrlLabel":"Company Privacy Policy","processorCookiePolicyUrlLabel":"Company Cookie Policy","processorContactLabel":"Data Protection Contact Details","placeholderAcceptAllText":"Aceptar y seguir navegando","functional":{"title":"Funcional","details":"Las cookies son peque\u00f1os archivos de texto que tu navegador coloca en tu dispositivo para almacenar cierta informaci\u00f3n. Utilizando la informaci\u00f3n que se almacena y se devuelve, un sitio web puede reconocer que t\u00fa has accedido y lo has visitado previamente utilizando el navegador de tu dispositivo final. Utilizamos esta informaci\u00f3n para organizar y mostrar el sitio web de manera \u00f3ptima de acuerdo con tus preferencias. Dentro de este proceso, solo la propia cookie se identifica en tu dispositivo. Los datos personales solo se almacenan despu\u00e9s de tu consentimiento expreso o cuando esto es absolutamente necesario para permitir el uso del servicio proporcionado por nosotros y al que t\u00fa accedes."},"marketing":{"title":"An\u00e1lisis","details":"Las cookies de marketing provienen de empresas de publicidad externas (\u201ccookies de terceros\u201d) y se utilizan para recopilar informaci\u00f3n sobre los sitios web visitados por el usuario. El prop\u00f3sito de esto es crear y mostrar contenido y publicidad orientados al grupo objetivo para el usuario."},"performance":{"title":"Rendimiento","details":"Las cookies de rendimiento recopilan informaci\u00f3n agregada sobre c\u00f3mo se utiliza nuestro sitio web. El objetivo de esto es mejorar su atractivo, contenido y funcionalidad. Estas cookies nos ayudan a determinar con qu\u00e9 frecuencia y durante cu\u00e1nto tiempo se accede a determinadas subp\u00e1ginas de nuestro sitio web y qu\u00e9 contenido interesa especialmente a los usuarios. T\u00e9rminos de b\u00fasqueda, pa\u00eds, regi\u00f3n y (cuando corresponda) la ciudad desde la que se encuentra el sitio web. Tambi\u00e9n se registran los accesos, as\u00ed como la proporci\u00f3n de dispositivos m\u00f3viles que se utilizan para acceder al sitio web. Usamos esta informaci\u00f3n para compilar informes estad\u00edsticos que nos ayudan a adaptar el contenido de nuestro sitio web a tus necesidades y optimizar nuestra oferta."},"video":{"title":"V\u00eddeo","details":"Los servicios para compartir v\u00eddeos ayudan a agregar medios enriquecidos en el sitio web y aumentar su visibilidad."}}},"cookiesTexts":{"_core":{"default_config_hash":"S5qrJju_o31uC1fwXosZ8Nlja2Wps6Gn0mMCAebY1Zw"},"langcode":"es","bannerText":"CaixaBank utiliza cookies propias y de terceros para analizar tus h\u00e1bitos de navegaci\u00f3n con el fin de elaborar datos, personalizar tu experiencia de navegaci\u00f3n (por ejemplo, el idioma) y la publicidad, e incluso mostrar publicidad adaptada al perfil creado en funci\u00f3n de tus h\u00e1bitos de navegaci\u00f3n. Haz clic en \u0022Configuraci\u00f3n de cookie\u0022 para obtener m\u00e1s informaci\u00f3n, configurar o rechazar su uso. O bien, puedes aceptar todas las cookies haciendo clic en \u201cAceptar\u201d.","privacyPolicy":"Pol\u00edtica de privacidad","privacyUri":"","imprint":"Imprint","imprintUri":"","cookieDocs":"Documentaci\u00f3n de cookies","cookieDocsUri":"\/node\/10823","denyAll":"Rechazar","alwaysActive":"Obligatorias","settings":"Configuraci\u00f3n de cookie","acceptAll":"Aceptar","requiredCookies":"Cookies necesarias","cookieSettings":"Configuraci\u00f3n de cookie","close":"Cerrar","readMore":"Read more","allowed":"Allowed","denied":"Denied","settingsAllServices":"Settings for all services","saveSettings":"Guardar","default_langcode":"es","disclaimerText":"All cookie information is subject to change by the service providers. We update this information regularly.","disclaimerTextPosition":"above","processorDetailsLabel":"Processor Company Details","processorLabel":"Company","processorWebsiteUrlLabel":"Company Website","processorPrivacyPolicyUrlLabel":"Company Privacy Policy","processorCookiePolicyUrlLabel":"Company Cookie Policy","processorContactLabel":"Data Protection Contact Details","placeholderAcceptAllText":"Aceptar y seguir navegando"},"services":{"analytics":{"uuid":"549a5972-2280-4000-baf0-a30759595491","langcode":"es","status":true,"dependencies":[],"id":"analytics","label":"An\u00e1lisis","group":"marketing","info":{"value":"","format":"basic_html"},"consentRequired":true,"purpose":"","processor":"","processorContact":"","processorUrl":"","processorPrivacyPolicyUrl":"","processorCookiePolicyUrl":"","placeholderMainText":"Funcionalidad bloqueada por no aceptaci\u00f3n de cookies de marketing","placeholderAcceptText":"Aceptar cookies de marketing"},"functional":{"uuid":"a7ad6602-4176-4383-8942-baaaf1481943","langcode":"es","status":true,"dependencies":[],"_core":{"default_config_hash":"SQkYKY9U6xYDPAOC32rgkrIzkd688kRsm9g25mWdcvM"},"id":"functional","label":"Funcional","group":"functional","info":{"value":"\u003Ctable\u003E\r\n\t\u003Cthead\u003E\r\n\t\t\u003Ctr\u003E\r\n\t\t\t\u003Cth width=\u002215%\u0022\u003ECookie name\u003C\/th\u003E\r\n\t\t\t\u003Cth width=\u002215%\u0022\u003EDefault expiration time\u003C\/th\u003E\r\n\t\t\t\u003Cth\u003EDescription\u003C\/th\u003E\r\n\t\t\u003C\/tr\u003E\r\n\t\u003C\/thead\u003E\r\n\t\u003Ctbody\u003E\r\n\t\t\u003Ctr\u003E\r\n\t\t\t\u003Ctd\u003E\u003Ccode dir=\u0022ltr\u0022 translate=\u0022no\u0022\u003ESSESS\u0026lt;ID\u0026gt;\u003C\/code\u003E\u003C\/td\u003E\r\n\t\t\t\u003Ctd\u003E1 month\u003C\/td\u003E\r\n\t\t\t\u003Ctd\u003EIf you are logged in to this website, a session cookie is required to identify and connect your browser to your user account in the server backend of this website.\u003C\/td\u003E\r\n\t\t\u003C\/tr\u003E\r\n\t\t\u003Ctr\u003E\r\n\t\t\t\u003Ctd\u003E\u003Ccode dir=\u0022ltr\u0022 translate=\u0022no\u0022\u003Ecookiesjsr\u003C\/code\u003E\u003C\/td\u003E\r\n\t\t\t\u003Ctd\u003E1 year\u003C\/td\u003E\r\n\t\t\t\u003Ctd\u003EWhen you visited this website for the first time, you were asked for your permission to use several services (including those from third parties) that require data to be saved in your browser (cookies, local storage). Your decisions about each service (allow, deny) are stored in this cookie and are reused each time you visit this website.\u003C\/td\u003E\r\n\t\t\u003C\/tr\u003E\r\n\t\u003C\/tbody\u003E\r\n\u003C\/table\u003E\r\n","format":"full_html"},"consentRequired":false,"purpose":"Cookies funcionales esenciales para proporcionar funcionalidad general","processor":"","processorContact":"","processorUrl":"","processorPrivacyPolicyUrl":"","processorCookiePolicyUrl":"","placeholderMainText":"Este contenido est\u00e1 bloqueado porque no se han aceptado las cookies funcionales necesarias.","placeholderAcceptText":"Aceptar s\u00f3lo las cookies funcionales necesarias."},"gtag":{"uuid":"f1986c7b-30d1-43ea-9375-ddac12d85375","langcode":"es","status":true,"dependencies":[],"id":"gtag","label":"Rendimiento","group":"performance","info":{"value":"","format":"basic_html"},"consentRequired":true,"purpose":"Cookies de rastreo mediante GTM","processor":"","processorContact":"","processorUrl":"","processorPrivacyPolicyUrl":"","processorCookiePolicyUrl":"","placeholderMainText":"Funcionalidad bloqueada por no aceptaci\u00f3n de cookies de rendimiento","placeholderAcceptText":"Aceptar cookies de rendimiento"},"video":{"uuid":"6385deb0-8426-4ff5-9885-d3b31b7b9f93","langcode":"es","status":true,"dependencies":[],"id":"video","label":"V\u00eddeo","group":"video","info":{"value":"","format":"basic_html"},"consentRequired":true,"purpose":"video","processor":"","processorContact":"","processorUrl":"","processorPrivacyPolicyUrl":"","processorCookiePolicyUrl":"","placeholderMainText":"Funcionalidad bloqueada por no aceptaci\u00f3n de cookies de video","placeholderAcceptText":"Aceptar cookies de video"}},"groups":{"functional":{"uuid":"703e5017-fb29-4dc6-ade8-233bceeea0ef","langcode":"es","status":true,"dependencies":[],"_core":{"default_config_hash":"aHm4Q63Ge97tcktTa_qmUqJMir45iyGY2lEvvqPW68g"},"id":"functional","label":"Funcional","weight":1,"title":"Funcional","details":"Las cookies son peque\u00f1os archivos de texto que tu navegador coloca en tu dispositivo para almacenar cierta informaci\u00f3n. Utilizando la informaci\u00f3n que se almacena y se devuelve, un sitio web puede reconocer que t\u00fa has accedido y lo has visitado previamente utilizando el navegador de tu dispositivo final. Utilizamos esta informaci\u00f3n para organizar y mostrar el sitio web de manera \u00f3ptima de acuerdo con tus preferencias. Dentro de este proceso, solo la propia cookie se identifica en tu dispositivo. Los datos personales solo se almacenan despu\u00e9s de tu consentimiento expreso o cuando esto es absolutamente necesario para permitir el uso del servicio proporcionado por nosotros y al que t\u00fa accedes."},"marketing":{"uuid":"81df2f36-e3ca-4419-b21c-f47c1d1e647d","langcode":"es","status":true,"dependencies":[],"_core":{"default_config_hash":"JkP6try0AxX_f4RpFEletep5NHSlVB1BbGw0snW4MO8"},"id":"marketing","label":"An\u00e1lisis","weight":20,"title":"An\u00e1lisis","details":"Las cookies de marketing provienen de empresas de publicidad externas (\u201ccookies de terceros\u201d) y se utilizan para recopilar informaci\u00f3n sobre los sitios web visitados por el usuario. El prop\u00f3sito de esto es crear y mostrar contenido y publicidad orientados al grupo objetivo para el usuario."},"performance":{"uuid":"337e5339-0fc1-4aba-9322-375f5b0464ae","langcode":"es","status":true,"dependencies":[],"_core":{"default_config_hash":"Jv3uIJviBj7D282Qu1ZpEQwuOEb3lCcDvx-XVHeOJpw"},"id":"performance","label":"Rendimiento","weight":30,"title":"Rendimiento","details":"Las cookies de rendimiento recopilan informaci\u00f3n agregada sobre c\u00f3mo se utiliza nuestro sitio web. El objetivo de esto es mejorar su atractivo, contenido y funcionalidad. Estas cookies nos ayudan a determinar con qu\u00e9 frecuencia y durante cu\u00e1nto tiempo se accede a determinadas subp\u00e1ginas de nuestro sitio web y qu\u00e9 contenido interesa especialmente a los usuarios. T\u00e9rminos de b\u00fasqueda, pa\u00eds, regi\u00f3n y (cuando corresponda) la ciudad desde la que se encuentra el sitio web. Tambi\u00e9n se registran los accesos, as\u00ed como la proporci\u00f3n de dispositivos m\u00f3viles que se utilizan para acceder al sitio web. Usamos esta informaci\u00f3n para compilar informes estad\u00edsticos que nos ayudan a adaptar el contenido de nuestro sitio web a tus necesidades y optimizar nuestra oferta."},"social":{"uuid":"d2d76f0b-fb21-436d-8574-57d0ce7172ef","langcode":"es","status":true,"dependencies":[],"_core":{"default_config_hash":"vog2tbqqQHjVkue0anA0RwlzvOTPNTvP7_JjJxRMVAQ"},"id":"social","label":"Social Plugins","weight":20,"title":"Social Plugins","details":"Comments managers facilitate the filing of comments and fight against spam."},"tracking":{"uuid":"2f05cf74-57be-4dc9-840b-0070920c5e76","langcode":"es","status":true,"dependencies":[],"_core":{"default_config_hash":"_gYDe3qoEc6L5uYR6zhu5V-3ARLlyis9gl1diq7Tnf4"},"id":"tracking","label":"An\u00e1lisis","weight":10,"title":"An\u00e1lisis","details":"Las cookies de marketing provienen de empresas de publicidad externas (\u201ccookies de terceros\u201d) y se utilizan para recopilar informaci\u00f3n sobre los sitios web visitados por el usuario. El prop\u00f3sito de esto es crear y mostrar contenido y publicidad orientados al grupo objetivo para el usuario."},"video":{"uuid":"60e54a6f-984b-4ef1-9503-dd65009568a8","langcode":"es","status":true,"dependencies":[],"_core":{"default_config_hash":"w1WnCmP2Xfgx24xbx5u9T27XLF_ZFw5R0MlO-eDDPpQ"},"id":"video","label":"V\u00eddeos","weight":40,"title":"V\u00eddeo","details":"Los servicios para compartir v\u00eddeos ayudan a agregar medios enriquecidos en el sitio web y aumentar su visibilidad."}}},"quicklink":{"admin_link_container_patterns":["#block-local-tasks-block a",".block-local-tasks-block a","#drupal-off-canvas a","#toolbar-administration a"],"ignore_admin_paths":true,"ignore_ajax_links":true,"ignore_file_ext":true,"total_request_limit":0,"concurrency_throttle_limit":0,"idle_wait_timeout":2000,"viewport_delay":0,"debug":false,"url_patterns_to_ignore":["user\/logout","#","\/admin","\/edit"]},"user":{"uid":0,"permissionsHash":"c173eef97e34a81c8efc69f0cc301d5fa7da6c70f177b248f2937e5dfa5eaf7d"}}</script><script src="//polyfill.io/v3/polyfill.min.js?features=IntersectionObserver%2CIntersectionObserverEntry%2CURL%2CObject.assign%2CArray.from%2CArray.prototype.includes%2CString.prototype.includes%2CElement.prototype.matches%2CPromise%2CPromise.prototype.finally"></script><script src="/sites/default/files/js/js_hNztB3d32KlC-xri2MM_yolXBML1Mb5EHWsRa8fBvqg.js"></script><script type="text/javascript" src="/_Incapsula_Resource?SWJIYLWA=719d34d31c8e3a6e6fffd425f7e032f3&ns=1&cb=1266793312" async></script></body></html>