Dr. Platon Monokroussos, Chief Market Economist, Deputy General Manager, Eurobank Ergasias S.A
WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: The majority of European equity markets opened lower on Friday and major government bonds retained a positive tone in early trade ahead of the US’ non-farm payrolls report for April. Following a recent string of poor US employment-related data, market consensus is currently for a rise of c. 190k in the headline, less than 200k expected earlier this week following an increase of 215k in the prior month.
GREECE: The Greek government reportedly intends to assemble the plenary of the Parliament on the coming Saturday andSunday in order to discuss the draft bill on the income tax and the social security reform. On Monday May 9th, an extraordinary Eurogroup meeting will be held to discuss the comprehensive package of policy reforms as well as the sustainability of Greece’s public debt.
SOUTH EASTERN EUROPE
ROMANIA: At its monetary policy meeting yesterday, NBR maintained interest rates unchanged at 1.75% in line with our and the almost unanimous consensus view.
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