Russia’s CBR ups key interest rate by whopping 200bp to 18%, increases GDP growth forecast to 3.5% for 2024
13 hours ago
Romania’s public debt (chart) reached RON799.3bn (€152.6bn) at the end of September, RON92.7bn more compared to the end of 2022, the finance ministry announced.
The debt-to-GDP ratio reached 50.5%, up from 47.3% at the end of 2022. The ratio, as published by the finance ministry (to be revised after the publication of Q3 GDP data), marks a new record for the country’s indebtedness.
Updated GDP as of the end of September will dilute the ratio to perhaps just under 50%.
Romania’s public debt already increased in the first three quarters of 2023 more than it increased in the entire 2022 or 2021.
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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.
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