WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: Oil prices moved lower on Thursday amid ongoing oversupply woes and lingering concerns about the growth prospects of the global economy. In FX markets, the GBP remained one of the main underperformers on the back of heightened Brexit woes.
GREECE: The decision on the exact time ECB/IMF/ESM/EC mission heads will return to Athens to resume discussions with domestic authorities in the context of the 1st programme review will reportedly be reached at the Euro Working Group which is scheduled for Monday, February 29th after assessing the progress made by the Greek side in fulfilling the required prior actions.
SOUTH EASTERN EUROPE
ROMANIA: Following his comments during the presentation of the Inflation Report earlier in February, NBR Governor Mugur Isarescu sounded even more hawkish during an interview yesterday, noting that the NBR may tighten monetary policy sooner than expected due to strong underlying inflationary pressures.
CESEE MARKETS: Most emerging stock markets extended their recent losses in early European trade on Thursday, as global oil prices swung back into a negative territory, while the recent rally in Chinese equity markets staged from lows hit in late January seemed to have been overdone. On the flipside, CESEE bourses moved broadly higher trailing gains in major European indices. Separately, regional currencies were little changed at the time of writing and government bonds were broadly firmer.
Viewers can log herebelow and read the full report: