Dr. Platon Monokroussos, Chief Market Economist, Deputy General Manager, Eurobank Ergasias S.A
HIGHLIGHTS
WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: Wall Street was little changed overnight, while Asian bourses closed mixed on Friday and European equity indices treaded water in early trade ahead of today’s US nonfarm payrolls report. Focus today turns to October US employment data, with market consensus expecting to see a monthly increase in nonfarm payrolls of ca. 185k, following an increase of 142k in September.
GREECE: The multi-bill containing structural reforms that will allow the release of next ESM loan installment of EUR 2 billion, passed through the Greek Parliament late last night. However, the disbursement of the installment is not assured yet.
SOUTH EASTERN EUROPE
ROMANIA: At its monetary policy meeting yesterday, the National Bank of Romania stayed put on its monetary policy for the fourth consecutive time, in line with our and unanimous market expectations. In more detail, the key policy rate remained at the current record low of 1.75%, while the minimum reserve requirements for RON and FX denominated liabilities were left unchanged at 8% and 14% respectively.
SERBIA: According to the European Commission Economic Forecast (Autumn 2015), published on Thursday, Serbia’s real GDP is anticipated to come in at 0.7% in 2015, 1.4% in 2016 and 2.5% in 2017 as the economy is emerging from last year’s 1.8% recession.
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Daily Overview November 6 2015
