HIGHLIGHTS
February 15 2023
Global Markets
Higher than expected US CPI inflation data combined with persistent labor market tightness, led to a new reassessment of the expected fed funds rate path. Fed fund futures are currently pricing in a terminal fed funds rate at 5.26% in July compared to 5.20% yesterday before the US CPI release and around 4.80% just two weeks ago, while investors are no longer pricing in fully a 25bps rate cut by the end of the year.
Greece
The turnover, from administrative sources, for the total enterprises in the economy, amounted to €125.2bn in Q4-2022, registering an annual increase of 24.0% from 42.8% in Q3-2022. The respective annual increase for the whole year (FY-2022) was 35.5% from 19.7% in 2021.
CESEE
In Bulgaria, the economy decelerated, albeit milder than previously expected, in annual terms in the last quarter of 2022, compared to Q3-2022 but was held firm on a quarterly basis, based on yesterday’s release of the Q4-2022 flash GDP estimate.
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