Russia’s CBR maintains key rate at 16%
3 hours ago
Estonian retail sales grew 8% y/y at constant prices in May, according to data released by Statistics Estonia on June 30. It was the second month in a row in which turnover accelerated, pitching growth close to the 12-month high of 10% recorded in December.
The May reading suggests continued confidence amongst Estonian consumers on the back of the ongoing tightening of the labour market. On a monthly basis retail sales also rose 8%. Nominal sales came in at €557.9mn.
Sales of manufactured goods increased 13% y/y. Within that segment, sales fared best in textiles, clothing and footwear, increasing 19%, while sales of household goods and appliances, hardware and building materials showed expansion of 15%.
Turnover at grocery stores was 4% higher on the year. Sales of automotive fuel increased growth in April, posting an expansion of 6%.
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Russia’s CBR maintains key rate at 16%
The board of the Central Bank of Russia (CBR) resolved to keep the key interest rate unchanged at 16% at the policy meeting on April 26, making a third meeting in a row that the rate is maintained flat.
NBU cuts rates 100bp to 13.5% on falling inflation
The National Bank of Ukraine (NBU) lowered the key policy rate by 100bp to 13.5% on April 25 and improved its inflation forecast as price pressure ease.
Turkey keeps policy rate constant at 50%
Central bank is, notably, no longer talking about building up its reserves in parallel with so-called monetary framework simplification policy.
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Slovak unemployment inched further down to 3.88% in March
There were 167,493 job applicants in March, which is at its lowest level since the end of 2019.
Poland’s industrial production disappoints in March as output declines 6% y/y
Poland’s industrial production fell 6% year on year in constant prices in March (chart), after a gain of 3.3% y/y the preceding month, unadjusted data from the statistical office GUS showed on April 22.
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