Data
Russia’s CBR ups key interest rate by whopping 200bp to 18%, increases GDP growth forecast to 3.5% for 2024
The board of the Central Bank of Russia (CBR) increased the key interest rate by 2 percentage points from 16% to 18%, in line with consensus expectations at the policy meeting on July 26. - the first hike since December 2023.
The NBU keeps rates on hold at 13% due to rising inflation pressure
The National Bank of Ukraine (NBU) has decided to maintain its key policy rate at 13% on July 25, halting a series of three consecutive rate cuts.
Moldova's pro-Russian separatist Transnistria sends 80% of its exports to the EU
War in Ukraine forced Transnistrian exporters to focus on Western markets as routes to Russia blocked.
How energy intensive are data centers?
While countries like China and the United States had the highest electricity demand by a considerable margin, a new player that rivals the consumption of some of the biggest economies and is bolstered by the ongoing AI hype and data center use.
Hungarian central bank moves in line with forecast with 25bp rate cut
The central bank is likely to carry out 1-2 more rate cuts this year, bringing the rate to 6.25-6.50%, which would still be the highest among its CEE peers.
Turkey keeps 50% policy rate unchanged for fourth straight month
Monthly inflation rate may see temporary small rise in July due to factors beyond control of monetary policy.
Albania's trade deficit up 13.4% y/y in June
Exports of food, textiles and construction materials all fell, as high lek takes its toll on Albanian exporters.
Moody’s hikes Turkey two notches to four below investment grade
More upgrades will follow should the monetary normalisation policy remain in effect.
The eurozone's recovery is losing momentum, according to poll
The latest economic data indicates that the eurozone's recovery is losing momentum, with industrial production continuing to drag on growth and sentiment indicators suggesting a weakening in the strong momentum seen earlier this year.
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Putin is trusted by 81.5% of Russians, according to poll
Russian President Vladimir Putin is trusted by 81.5% of Russians and 78.4% of respondents approve of his performance, according to the weekly survey by the All-Russian Public Opinion Research Centre (VTsIOM), released on July 19.
Russia's international reserves back above $600bn
Russia's international reserves are back above $600bn after they increased by $4.1bn to $601.3bn as of July 12, 2024, according to the Central Bank of Russia (CBR).
Inflation expectations rise in Russia despite CBR tough rhetoric
Inflation expectations in Russia rose to 12.4% in July 2024 from 11.9% seen in June, increasing for the third month in a row and returning to the highest level since January 2024, according to the latest survey by the Central Bank of Russia.
Russian economy growth forecast upgraded to 3.2% in CBR’s July macroeconomic survey
Analysts polled by the Central Bank of Russia (CBR) in its July macroeconomic survey have again upgraded their outlook on the key rate, inflation and the country’s GDP growth, according to the regulator’s website.
666,000 Russians have emigrated since early 2022 – The Bell
After the invasion of Ukraine Russia saw an exodus of some of its best and most productive citizens. Official figures on just how many people, mostly men, left remain elusive but early estimates put the number at close to a million.
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Slovak inflation is back at a three-year low of 2.1% y/y in June
The consumer price index (CPI) year-on-year growth in Slovakia is at a three-year low in June, returning to its level from April of 2.1%.
Romania’s public indebtedness slips above 50% of GDP, yet no corrective plan in sight
Romania’s public debt increased by RON7.4bn in April, reaching RON852.8bn at the end of the month.
Poland's adjusted income to overtake Japan's by 2026
New GDP per capita PPP data from the World Bank suggest that Poland's GDP adjusted income is likely to overtake that of Japan by 2026.
IMF: Three quarters of the world’s wealth is owned by 10% of its people, who account for half of the CO2 emissions
The state of global inequality is alarming, showing no significant improvement over the past century, according to the World Inequality Report 2022,
Ukraine’s population will crash to a mere 15mn people by 2100 - UN
The latest UN median forecast for Ukraine's population by 2100 is for it to more than halve from its pre-war level of 45mn to to a mere 15.3mn, according to UN's 2024 Revision of World Population Prospects.
Romania’s industry shows signs of recovery in April-May
Only minor decline in output recorded in April-May after steep contraction in Q1.