Weekly Report 13 - 19 September 2016


CBRT cuts its overnight lending rate, by 25 bps, to 8.25%

Primary fiscal balance, albeit remaining in surplus, deteriorated slightly in 8M:16



Headline inflation rises to -0.2% y-o-y in August from -0.8% in July, on the back of higher food and fuel prices

Residential real estate market continues to improve in Q2:16



Headline inflation declines to -0.3% y-o-y in August from -0.2% in July, on the back of lower food prices

Tourism sector recovers strongly in 7M:16, sustaining economic growth



Headline inflation remains flat at 1.2% y-o-y in August

Monetary policy loosening has likely come to an end



Real GDP growth moderates sharply to 2.1% y-o-y in H1:16 from 3.7% y-o-y in FY:15



Headline inflation has embarked on an upward trend, rising to 2.0% y-o-y in August, due to a deterioration in food and core inflation

Increasing inflationary pressures and risk of overheating strengthen the BoA’s hand to initiate a new cycle of monetary policy tightening



S&P upgrades Cyprus’ long-term sovereign debt rating by one notch to BB, with a positive outlook

Tourist arrivals rise sharply in 8M:16, benefiting mainly from heightening security concerns in neighbouring competitors

Tourist receipts reach an all-time high of 4.4% of GDP in H1:16



IMF Executive Board to approve the USD 12bn financing programme for Egypt

Unemployment rate declines for a second consecutive year in FY:15/16

Suez Canal receipts remain resilient in FY:15/16, in the face of a slowdown in global trade



Weekly Report 13 - 19 September 2016

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