WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: The minutes of the March FOMC policy meeting, published y-day, showed that the Central Bank remains inclined to embark on a rate tightening cycle this year. However, policy members appeared divided over whether the first rate increase to be delivered in June or later in the year.
GREECE: Euro area deputy finance ministers acknowledged at the two-day Euro Working Group (EWG) meeting, which commenced y-day, that satisfactory progress has been made so far in negotiations between Greece’s negotiating team and the technocrats from the four Institutions noting though that further work is needed before a final agreement is reached. In other news, Greece successfully auctioned €1.138mn (including c. €263mn in non-competitive bids) of 6-month T-bills y-day. Elsewhere, data from the Hellenic Statistical Authority (E.STAT.) showed that arrivals of non-residents from abroad increased by 23%YoY in 2014.
SOUTH EASTERN EUROPE
ROMANIA: According to seasonally adjusted data, industrial production fell by 0.6%MoM in February, bringing the annual rate of increase to 2.3%YoY.
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