HIGHLIGHTS
July 28 2022
Global Markets
The Fed raised rates by 75bps, as broadly expected, taking the target range for the federal funds rate to 2.25%-2.50%. The Committee reiterated that further rate hikes remain appropriate, but with the funds rate now at the Committee’s estimate of neutral, Fed Chair Jerome Powell laid the ground for a slower pace of rate hiking at some point.
Greece
According to the Bank of Greece, deposits placed by the private sector stood at €182.3bn in June, in-creasing for a third month in a row by €2.7bn compared to May.
CESEE
Credit growth in the Bulgarian banking system accelerated by 12.6% ΥοΥ in June, up from 11.2% ΥοΥ in May, due to stronger corporate (+10.6% ΥοΥ) and, albeit to a lesser extent, household (+14.7% ΥοΥ) lending growth.
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