WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: In FX markets, selling pressure on the EUR persisted on Friday amid mounting expectations for further ECB monetary policy stimulus ahead. Against this background, today’s euro area inflation data for the month of August lure market attention.
According to the most recent Bank of Greece data, euro-denominated deposits & repos of domestic households and non-financial corporations in Greek MFIs excluding the Bank of Greece (BoG) improved in July for the fifth month in a row. In other news, the Economic Sentiment Indicator for Greece dropped in August for the second month in a row remaining though not far from a six-year high of 103.7 marked two months ago.
SOUTH EASTERN EUROPE
SERBIA: The dinar remained under pressure on Thursday with the EUR/RON hitting a new record high.
ROMANIA: Government bonds firmed on Thursday and the RON moved lower on the back of renewed Ukraine Jitters.
BULGARIA: The total business climate indicator dropped in August for the third consecutive monthly mainly due to the more unfavourable business climate in service sector, construction and retail trade.