HIGHLIGHTS
May 4 2023
Global Markets
As widely expected, the Fed unanimously decided to raise rates by 25bps yesterday, but more importantly, the forward guidance in the statement was altered, hinting that this rate move may be the last of the current tightening cycle. USTs extended recent gains and the USD came under pressure, while oil prices took another leg lower amid growing global growth concerns.
Greece
Private sector deposits rebound in Mar-23 after a seasonal decline in the first two months of 2023 as households shift towards higher-rate time deposits; net credit also up driven by corporate loans.
CESEE
In Turkey, headline inflation slowed down in April for the sixth consecutive month, to a 16-month low (43.7%YoY), owed to base effects as the monthly pace was positive and unchanged compared to March (+2.4%). In Serbia, real GDP growth accelerated to 0.7%YoY in Q1-2023 from 0.4%YoY in the prior quarter.
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