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GLOBAL & REGIONAL DAILY
HIGHLIGHTS
September 17 2020
Global Markets
The Fed stayed put on interest rates and left its balance sheet policies unchanged, while, consistent with the shift to a flexible average inflation targeting regime, a new rates guidance was adopted. Turning to markets, risk-off mode prevailed earlier today and the USD firmed in reaction to the lack of new Fed stimulus and the Fed signal for unchanged rates for a long time.
Greece
The State Budget primary balance for the period Jan – Aug 2020 recorded a deficit of €6.6bn, against the primary surplus target of €1.2bn. Compared to the updated estimation for the period Jan – Aug 2020 included in the Stability Program, tax revenues are increased by c. €370mn.
CESEE
Bulgaria: The registered unemployment rate fell in August by 0.4% on a monthly basis to 7.5%, yet on an annual basis, the rate went up by 2.2%.
Serbia: The Ministry of Finance raised on Monday RSD3.2bn in 5-year bonds. Investors’ interest was lukewarm and the achieved yield was a tad higher compared to the previous identical auction.
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