Weekly Report 12-18 April 2016

TURKEY

The CBRT cuts its overnight lending rate by 50 bps

The fiscal balance improves in Q1:16, supported by capital spending restraint and large privatisation proceeds

External rebalancing continues in 2M:16, due to a favourable energy bill

 

ROMANIA

Current account deficit widens to 1.3% of GDP on a 12-month rolling basis in February from 1.1% at end-2015, due to stronger domestic demand

 

BULGARIA

Headline inflation falls to a 21-month low of -1.5% y-o-y in March

A better trade performance and lower income outflows push the current account surplus to 2.5% of GDP on a 12-month rolling basis in February

 

SERBIA

Headline inflation slows to 0.6% y-o-y in March, due to favourable food and energy prices

NBS to end its cycle of monetary policy loosening after the April 24th legislative elections

 

FYROM

Political crisis escalates due to the violation of the Przino agreement

Tourist arrivals reach an all-time high of 42.4k in 2M:16

 

ALBANIA

Economic growth strengthens to a 5-year high of 2.6% in FY:15

Record-low inflation encourages the BoA to proceed with an additional 25 bp policy rate cut in April

 

CYPRUS

Headline deflation declines to -2.5% y-o-y in March from -2.6% in February, due to slower core deflation

Tourist arrivals rise sharply in November-March, mainly due to heightening security concerns in neighbouring competitors

 

EGYPT

Headline inflation declines by 0.1 pp to 9.1% y-o-y between February and March

CBE likely to keep its policy rates on hold until the end of the current fiscal year

 

APPENDIX: FINANCIAL MARKETS

Weekly Report 12-18 April 2016
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