Data
Hungarian central bank cuts O/N rate by 100bp
Interest rate on one-day quick deposits offered at daily tenders and the base rate now equal at 13%.
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Retail trade turnover in Ukraine up 7.3% in 1H23 and 23.3% in June y/y
Retail trade turnover in Ukraine is bouncing back thanks to the stabilisation of the economy and low base effects, Ukrstat reported on September 26.
NBU said interest rates could be cut to 18% by the end of year as inflation falls
The National Bank of Ukraine (NBU) says a reduction in the key policy rate to 18% by the end of the year as part of its efforts to support economic recovery is likely, UBN reported on September 26.
High interest rates, gloomy outlook stifle bank lending in Romania
Financial intermediation in Romania plunged to 25.3% in August 2023 amid sluggish lending and high inflation.
Trade data shows Ukraine war has consolidated political blocs
A release by the World Trade Organisation shows that both trade between as well as trade within blocs has suffered as sanctions and blockades in the aftermath of the Russian invasion have stood in the way of trade flows.
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Ukraine puts in first GDP growth since the war began
Ukraine puts in first GDP growth since the war began of 19.5% as the economy starts to stabilise and low base effects push growth numbers up. The economy grew 0.8% on a q/q basis.
Azerbaijan surpasses Armenia in military spending
Oil wealth and faster economic growth have allowed Azerbaijan to spend much more heavily on the military than Armenia.
Polish industrial production eases decline in August
Industrial production fell 2% year on year in constant prices in August after a revised fall of 2.3% y/y the preceding month.
ING expects fiscal measures to dampen growth in Romania
ING analysts say unpopular measures to contain the public deficit have potential to dampen growth in 2024 but shouldn't shake market confidence or EU funds inflows.
Turkey takes benchmark to 30% with 500bp rate hike
Erdogan’s new economic team keep pushing lines about capital flooding into country, but the evidence for that is not there.
Public sector investments fuel construction industry’s growth in Romania
Growth in the volume of construction works remained above 15% y/y for the fourth consecutive month in July.
Slovak unemployment edges up to 4% in August
Year-on-year, unemployment decreased by 0.53 percentage points.
Steep appreciation in lek causes slump in Albania’s exports
The value of Albania's exports fell by 21.9% y/y in August, decline caused by rise of lek and fall in prices on world markets.
Ukraine storage reaches 14.7 bcm, enough for winter
Ukraine has accumulated 14.7bn cubic metres of natural gas in its underground storage facilities, passing the target needed to get through the winter, the Ukrainian Ministry of Energy reported on September 19.
NBU cuts policy rate to 20%
Andriy Pishniy, the Chairman of the NBU board, said one of the primary drivers behind this rate reduction is the continued deceleration of inflation in Ukraine. In August, annual inflation slowed to 8.6%, a figure below the NBU's initial forecast.
Polish CPI growth eases to 10.1% y/y in August, statistics office confirms
Analysts who had earlier expected inflation to remain close to 10% y/y at the end of 2023 now expect it to hover around the 6% y/y - 7% y/y mark only.
Moldova’s GDP down 2.2% y/y in Q2 as consumption plunges
High energy prices dragged down growth, which remained negative for the fifth consecutive quarter.
Kosovo's economic growth slows down to 2.0% y/y in Q2
'Punitive measures' introduced by the EU and US over Kosovo's failure to de-escalate tensions in the north have caused growth to slow.
Slovak inflation eased to 8.9% y/y in August
Prices stabilise, remaining unchanged month-on-month.
Hungarian industrial production falls 2.6% y/y in July
Automotive production rose 14.4% y/y in July, slowing from a 19.1% increase in the previous month.