HIGHLIGHTS
March 10 2023
Global Markets
Ahead of today’s closely watched US non-farm payrolls report, the DXY index lost some ground, though still standing above 105, and USTs gained sharply with the yield curve bull-steepening, following yesterday’s disappointing jobless claims data.
Greece
Despite the energy crisis and the pickup in the building material costs, the construction sector had a robust performance in 2022. Among the 10 aggregate sectors of economic activity (NACE Rev. 2), construction printed the highest percentage increase in terms of real gross value added (26.0% YoY).
CESEE
In line with market expectations, the National Bank of Serbia (NBS) delivered yesterday an additional 25bps rate increase, setting the Key Policy Rate (KPR) at 5.25%. The increase is the 12th in a row of a hiking cycle at play since April 2022, translated into 475bps of cumulative tightening up to date.
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