GLOBAL & REGIONAL DAILY (Thursday 11 June 2020)

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GLOBAL & REGIONAL DAILY (Thursday 11 June 2020)

Global Markets

The FOMC stayed put on interest rates at this week’s two-day monetary policy meeting, which concluded late yesterday, with Chair Jerome Powell making clear that a rate hike remains a distant prospect amid historically high uncertainty. In reaction to the overall dovish outcome, USTs gained sharply and the USD lost some ground.

Greece

Today’s Eurogroup will discuss among others, the 6th Enhanced Surveillance report on Greece as well as whether the necessary conditions are fulfilled for the release of the 3rd tranche of policy-contingent debt measures, worth €748mn.

CESEE

Bulgaria: According to the latest convergence report, released yesterday by the ECB, Bulgaria does not fulfil the inflation criterion but complies in terms of soundness and sustainability of public finance and real interest rate convergence.

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