Czech National Bank defies consensus by lowering interest rate by 50bp to 4.75%
2 days ago
Russia’s industrial production growth accelerated in May to 5.3% y/y (5.2% in 5M24), being significantly higher than analysts expectations.
Seasonally adjusted (SA) month-on-month growth was 1.9%, following an estimate of 0.5% in April, according to Rosstat. (chart)
“The key contributor to overall growth, as well as the deviation from our forecast, was manufacturing, which grew 2.8% MoM SA (from 2.4% in April), helping accelerate the annual growth rate to 9.1% y/y (8.8% in 5M24). In the mining industry, a decline of 1.2% m/m SA in April gave way to an increase of 0.7% in May, which corresponds to an increase of 2.8% y/y (0.2% in 5M24),” Renaissance Capital said in a note.
The continued high rates of economic activity (including taking into account enterprise surveys for June), coupled with the persistence of increased inflationary pressure, act as a factor in favour of tightening the monetary policy of the Bank of Russia.
Related Content
Data
_1719504057.png)
Czech National Bank defies consensus by lowering interest rate by 50bp to 4.75%
Five CNB board members voted in favour of the 50bp cut, while two members voted for lowering rates by 25bp.
Turkey keeps policy rate unchanged at 50% for third straight month
At 75%, official inflation has likely reached peak and will quickly fall back to 40%s in coming months thanks to base effect.
_1719291067.png)
Slovak unemployment is at a historic low of 3.78% in May
Drop is 0.04 percentage points on the April level and a 0.12 pp drop year-on-year.
Moldova’s April industrial growth consolidates mild recovery
Moldova’s industrial output increased by 5.0% y/y in April after a mixed performance since last September.
Banks in Kosovo post 8.7% y/y higher aggregated profit in 12 months to May
Latest central bank data indicate robust profitability ratios, rising financial intermediation and steady consolidation of the banking system’s capitalisation.
Most Read
-
US “strangulation” sanctions on banks causing rising panic in Russia’s CBR
2 days ago
-
Ukraine’s attacks on Russian oil refineries have done little damage to Russia’s economy so far
2 days ago
-
Russia overtakes Japan to become the fourth largest economy in the world in PPP terms
25 days ago
-
Russian struggling with import substitution, study finds
2 days ago
-
Russia revs up microchip production
3 days ago
-
Russia overtakes Japan to become the fourth largest economy in the world in PPP terms
25 days ago
-
Rerouting of Russia trade to add more Caucasus, Central Asia growth in 2024-2025, says Oxford Economics
8 days ago
-
Dagestan rocked by a series of terrorist attacks
6 days ago
-
“Recruiting ground” for jihadist terrorists Tajikistan bans hijab
7 days ago
-
Kenya declares a state of emergency as tax bill protestors storm the parliament building
4 days ago
-
Russia overtakes Japan to become the fourth largest economy in the world in PPP terms
25 days ago
-
LONG READ: Russia’s despair index result is the best ever, while Ukraine’s crashes
26 days ago
-
RAGOZIN: Ukraine’s mobilisation – public support vs private resistance
1 month ago
-
Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
2 months ago
-
Russia's central bank suspends trading in dollars and euros after US issues new bank sanctions
17 days ago