Slovak unemployment inches down to 3.82%
1 hour ago
Ukraine’s National Bank (NBU) cut the key policy rate from 25% to 22%, effective from July 28, the NBU stated in a press release on July 27 (chart).
The decision comes following disinflation and the stability observed in the foreign exchange (FX) market conditions, enabling the NBU to start the cycle of key policy rate cuts. The bank expects further disinflation, revising its 2023 inflation prediction from 14.8% to 10.6%.
The decision aims to stimulate growth and invigorate the financial landscape. Consumer inflation, which recorded a staggering 26% year on year at the beginning of the year, has shown a notable slowdown to 12.8% y/y in June. This dramatic deceleration in inflation has surpassed the National Bank's expectations and can be attributed to multiple supply-side factors.
One of the key factors contributing to the moderation of inflation is the saturation witnessed in both food and fuel markets. Additionally, the decline in global energy prices has played a pivotal role in stabilising the overall inflationary pressures.
The central bank raised the key policy rate from 10% to 25% in June last year in the first months of the war to combat the double-digit inflation caused by Russia’s full-scale invasion of Ukraine, which battered the economy. The NBU previously said that the key policy rate would be maintained at 25% until at least the second quarter of 2024.
Related Content
Data
_1716266137.png)
Slovak unemployment inches down to 3.82%
Decrease is 0.26 percentage points year on year and 0.06 pp month on month.
The use of the ruble in EU trade settlements reaches a record $15.2bn in March
The use of the ruble in settlements for goods and services exported by Russia to European partners was up 58.5% in March 2024 to record levels, according to data from the Central Bank of Russia.
Uzbekistan has fifth most students studying abroad
The world's two most populous nations, China and India, have the highest numbers of students studying overseas. But the Central Asian republic of Uzbekistan is in the top five as the government attempts to bootstrap its transition.
EC, EBRD remain bullish on Moldova’s “nascent” economic recovery
Moldova’s nascent economic recovery began in the second half of 2023 and is expected to strengthen from 0.7% last year to 2.9% in 2024 and 3.7% in 2025 almost entirely on domestic demand.
Polish GDP growth eases to 1.3% y/y in Q1, flash estimate says
Polish GDP expanded 1.3% year on year in the first quarter, (chart) easing slightly versus a gain of 1.6% y/y in the preceding three months, seasonally adjusted data from the Central Statistical Office (GUS) showed in a flash estimate on May 15.
Most Read
-
BRICS currency is coming soon, Iranian ambassador
1 day ago
-
Iran, Azerbaijan open border hydro dam on shared river
1 day ago
-
Iranian President Ebrahim Raisi confirmed dead in helicopter crash
1 day ago
-
Turkey simply relabels Russian oil products and exports them to Europe, research indicates
3 days ago
-
Turkey says helicopter carrying Iran’s Raisi did not emit transponder signal, adds Turkish drone used to find wreckage
13 hours ago
-
Turkey simply relabels Russian oil products and exports them to Europe, research indicates
3 days ago
-
US Secretary of State Blinken says Ukraine free to use US-made weapons to strike Russia
5 days ago
-
BRICS currency is coming soon, Iranian ambassador
1 day ago
-
#BREAKING: Iranian president missing in helicopter crash on Azerbaijan border, presumed dead
1 day ago
-
EBRD2024: EBRD expects Emerging Europe growth boost in 2024, but slightly lowers forecast
6 days ago
-
Shocking trial of ex-minister has shifted domestic violence attitudes in Kazakhstan, says brother
18 days ago
-
The models are wrong, climate change is accelerating faster than predicted
26 days ago
-
Ukraine's birth rate plummets to 300-year low as country’s population collapses
1 month ago
-
Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
1 month ago
-
EU finally boosts defence investment into arms production as Ukraine runs out of ammo
2 months ago