Home Banking Daily Overview of Global Markets & the SEE Region (12 August, 2015)

Daily Overview of Global Markets & the SEE Region (12 August, 2015)

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Dr. Platon Monokroussos,  Chief Market Economist, Deputy General Manager, Eurobank Ergasias S.A

Dr. Platon Monokroussos, Chief Market Economist, Deputy General Manager, Eurobank Ergasias S.A

HIGHLIGHTS

SOUTH EASTERN EUROPE

BULGARIA: Inflation slipped again into negative territory in July. Consumer prices slipped to -0.2% mom/-0.2% yoy down from -0.9% mom /+0.4% yoy in June up from -0.2% mom/+0.9% yoy in May.

ROMANIA: Inflation came at -0.2% mom/-1.7 yoy in July  inching down from -2.95% mom/-1.55% yoy in June vs. +0.5% mom/+1.2% yoy in May lower than market consensus (Bloomberg:+0.1% mom/-1.3%yoy).

SERBIA: The FX reserves of the NBS stood at €10.6bn in July up by €338mn from June. On a monthly basis, the largest outflows include repayment of €52.3mn in maturing bonds, €47.5m to international creditors, €31.1m repayment of maturing frozen savings bonds.

CESEE Markets: The news of the Chinese Yuan devaluation continues to dominate global financial markets for a second day in a row.

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Daily Overview August 12 2015

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