Sonsoles Castillo is Financial Scenarios Chief Economist at BBVA Research. Since 2010 leads a team of economists dedicated to financial analysis and coordinates the preparation of financial forecasts.
She joined BBVA Research in 1997 and during this time he has covered, from different positions, the economic analysis of the US, Europe and emerging economies and central banks, especially the ECB. She has been chief economist at Capital flows from Europe and cross-section analysis of emerging economies.
Previously, she served on the research staff of FEDEA (Foundation of Applied Economic Studies) where she collaborated and co-authored several reports and academic articles and a speaker at financial seminars.
She studied Economics from the University of Alcala de Henares with the number 1 in her class. And then she was awarded a scholarship by the Faculty of Economics of the University of Alcalá for Research Personnel Training.
‘Search for yield’ has emerged as the predominant driver of funds flows in the current low yield backdrop marked by a complicated global macro outlook and supportive central banks.
Last Thursday, the ECB maintained interest rates, but has prepared the ground for changes in September in response to the fact that inflation and its expectations have been below target for a long time.
The ECB kept rates unchanged but reintroduced the easing bias on rates, requested studies on further measures and, importantly, started talking about a symmetric inflation aim.