GLOBAL & REGIONAL DAILY (Thursday 12 January 2023)

HIGHLIGHTS

January 12 2023

Global Markets

Ahead of today’s US CPI release for December which is expected to show a further decline in both the headline and core measures, US Treasuries gained, especially at the long end. The USD remained under pressure, dropping to 131.35 against the JPY, on reports suggesting that the BoJ will review the side effects of its monetary policy easing at next week’s meeting.

Greece

According to ELSTAT, the seasonally adjusted unemployment rate declined to 11.4% of the labour force in November 2022, the lowest value since February 2010, from 11.5% in October 2022 and 13.1% in November 2021.

CESEE

In Turkey, the seasonally adjusted unemployment rate was unchanged on a monthly basis in November for the second consecutive month, at 10.2% and stands in the area of 10.1%-10.2% since Jul-22 (excl. Aug-22). The stagnation is mainly owed to the strong minimum wage rise in Jul-22, the second one last year, and deteriorating dynamics in key economic sectors.

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