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GLOBAL & REGIONAL DAILY (Friday 14, February 2020)
HIGHLIGHTS
February 14, 2020
Global Markets
Risk aversion continues to dominate market sentiment amid lingering worries about the impact of the coronavirus outbreak on public health, human lives and global economic activity. In FX markets, the EUR continued to face selling pressure dented by market worries about sluggish growth in the Eurozone and rising policy uncertainties in Germany.
Greece
In its Winter 2020 European Economic Forecast report, the EC revised upwards its GDP growth estimate for 2019 from 1.8%YoY (Autumn 2019) to 2.2%YoY and its forecast for 2020 from 2.3%YoY (Autumn 2019) to 2.4%YoY. For 2021 the forecast remains at 2.0%YoY.
CESEE
Bulgaria: The European Commission (EC) revised downwards its GDP growth forecast for Bulgaria to 2.9% in 2020 in its winter forecast, released yesterday, a tad lower compared to the 3.0% forecast released in autumn. Serbia: The NBS decided yesterday to keep the key policy rate, unchanged at 2.25% citing uncertain the external environment and low inflationary pressures.
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