Login
Retail
Login
Corporate

Bi-Weekly Report 19 October-1 November 2021

05/11/2021 - Reports

Southeastern Europe and Mediterranean Emerging Market Economies; --Weekly Report

TURKEY

The CBRT shocked (again) markets with a hefty 200 bp policy rate cut (to 16.0%) at end-October, sending the TRY to a new record-low of 9.70 against the USD

The ongoing monetary policy easing that comes in sharp contrast to worldwide trends puts at risk Turkey’s macroeconomic and financial stability

 

SERBIA

Strong external position provides room to the NBS to delay policy rate hikes

Persistent inflationary pressures and a widening negative interest differential between Serbia and its peers, should prompt the NBS to raise its key rate modestly next year

 

NORTH MACEDONIA

Z. Zaev steps down as PM and SDSM’s party leader, sparking political uncertainty

Amid an improving operating environment, banks’ underlying profitability strengthened in H1:21, mainly in line with lower provisioning

The favourable macroeconomic outlook bodes well for banks’ profits

 

APPENDIX: MACROECONOMIC & FINANCIAL INDICATORS