HIGHLIGHTS
June 20 2023
Global Markets
UK gilts remained under pressure with the 2-yr yield rising above 5% for the first time since July 2008 amid expectations for a further increase in the bank rate in the coming months, close to 6.00% from 4.50% currently. Meanwhile, investors retain an overall cautious stance against risk assets, while the USD remains weak, with the DXY index, though, managing to hold above the 102 level.
Greece
According to BoG data, residential property prices remained on a steep upward trajectory at the start of 2023. More specifically, the apartment prices index registered an annual increase of 14.5% in Q1 2023 (8.1% in real terms), from 10.0% in Q1 2022 (3.4% in real terms).
CESEE
The Bulgarian National Bank decided to maintain the countercyclical capital buffer rate applicable to domestic credit risk exposures at 2.0% in Q3-2024, following gradual increases since 2021. Key events that stand out this week in the region are the two central bank meetings, today in Hungary and tomorrow in Czechia.
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