GLOBAL & REGIONAL DAILY (Monday 19 December 2022)

HIGHLIGHTS

December 19 2022

Global Markets

Asian bourses ended mostly lower as investors continued to digest last week’s hawkish tone from both the Fed and the ECB, EGBs remained under pressure amid expectations of a higher ECB terminal rate, while the JPY was among the main outperformers in FX markets on reports suggesting that Japan may consider revising the 2% inflation target next year.

Greece

According to the ELSTAT quarterly labour force survey (non-seasonally adjusted data), the unemployment rate decreased to 11.6% of the labour force in Q3 2022, from 13.0% in Q3 2021. Moreover, long term unemployment declined to 62.9% of total unemployment in Q3 2022, from 66.4% in Q3 2021.

CESEE

The EC proceeded with the disbursement of EUR.37bn of grants to Bulgaria as the latter accomplished the 22 milestones and targets linked to the first instalment of the RRF; in Serbia, the EU has also approved EUR263mn in grants for 7 projects related to the green economy within the Western Balkans Investment Framework.

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