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GLOBAL & REGIONAL DAILY (Friday 12 March, 2021)

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GLOBAL & REGIONAL DAILY (Friday 12 March, 2021)

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March 12 2021

GLOBAL & REGIONAL DAILY

HIGHLIGHTS

Global Markets

The ECB stayed put on interest rates y-day, as expected, but surprised investors by announcing that, in response to the recent unwanted tightening of financial conditions, the GC decided to “significantly” increase the pace of purchases under the PEPP over the next quarter  relative to the pace seen so far this year.

Greece

According to ELSTAT, the total building activity (private and public) in Greece, in December 2020, which is calculated on the basis of the number of issued building permits, amounted to 1,813, recording an increase of 0.7%YoY. For the whole year, 18,907 building permits were issued, having recorded a rise of 9.2%YoY.

CESEE

The macroeconomic uncertainties stemming from the Covid-19 pandemic, along with the suppressed investment activity are anticipated to have a limiting effect on the credit growth of the banking system of Bulgaria. In yesterday’s session, the National Bank of Serbia kept the key policy rate unchanged at 1% for the third consecutive month. 

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