HIGHLIGHTS
June 23 2023
Global Markets
Against a backdrop of resilient economic growth and sticky inflation, several G10 central banks increased their policy rates further in their scheduled meetings yesterday, with a clear guidance for additional tightening, if needed. In reaction, global sovereign bonds came under pressure before regaining some ground earlier today on risk-off sentiment amid investor concerns over the growth outlook, while the USD was broadly firmer.
Greece
Travel receipts (including cruises) in current prices stood at €761.1mn in Apr-23, posting an annual increase of 19.9%. This result mostly reflects a scale effect, since the inbound traveller flows registered an increase of 30.0%, whereas the average non-resident expenditure per trip dropped by 8.4%.
CESEE
In Turkey, as was much anticipated by the market participants after the changes of the Minister of Finance and the Central Bank (CBRT) Governor in the aftermath of the recent elections, the Monetary Policy Committee has risen yesterday the policy rate to 15% from 8.5%, stating its will to abandon the loose monetary policy applied since September 2021.
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