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GLOBAL & REGIONAL DAILY (Friday 30 October, 2020)

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GLOBAL & REGIONAL DAILY (Friday 30 October, 2020)

GLOBAL & REGIONAL DAILY

HIGHLIGHTS

October 30 2020

Global Markets

The ECB stayed pat with its monetary policy y-day, as expected, while ECB President Christine Lagarde provided clear signals at the post-meeting press conference for further policy stimulus in December. The likelihood of more ECB stimulus and a record 33.1% US Q3 GDP annual growth rate, pushed the EUR/USD below 1.17 for the first time in the last two weeks.

Greece

The ESI for Oct-20 stood at 92.3, recording a monthly improvement of 2.8 units, with confidence improving in all sub-sectors, except among consumers. According to Deputy FinMin Theodoros Skylakakis, the Greek plan for the EU Recovery and Resilience Fund, which will be presented in November, will focus on the green economy, the digital transformation, labor and skills development, and policies to boost private investment.

CESEE

The Economic Sentiment Index (ESI) in CESEE countries continued to improve in October, after bottoming out in April, depicting however signs of stabilisation and backdrops in a few countries, such as the Czech Republic and Bulgaria to a lesser extent.

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