WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: Market expectations for further ECB monetary policy stimulus ahead prevail ahead of Thursday’s ECB monetary policy meeting, keeping the EUR under pressure against its major currency peers.
According to provisional data for Q2 2014 national accounts Greece’s statistics agency (EL.STAT.) released y-day, the pace of annual real GDP contraction eased for the 5th consecutive quarter, coming in at -0.3% YoY, from a downwardly revised -1.1% YoY in Q1 and the -0.2% YoY figure reported in the Q2 flash report.
SOUTH EASTERN EUROPE
SERBIA: The EUR/RSD extended its recent gains on Monday hitting a new two-year closing high of 117.90/10.
ROMANIA: National Bank of Romania’s foreign exchange reserves stood at €30.9bn in August, almost unchanged compared to the prior month’s level.
BULGARIA: According to a press release Bulgarian National Bank released y-day, the two biggest shareholders of the Corporate Commercial Bank, Bromak EOOD and State General Reserve Fund of Oman, failed to come up with concrete proposals for the bank’s rescue.
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