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MNI BRIEF: More Than 1/3 CESEE Retail Rates Shadow EZ Rates

(MNI) LONDON

Interest rates on bank deposits and bank loans in heavily euroised central, eastern and southeastern European countries respond as much to euro area monetary policy as to actions taken by domestic central banks, a Working Paper published by the ECB concludes, with evidence of fast and persistent transmission of monetary policy shocks from the euro area.

The relationship was found to be strongest in North Macedonia and Croatia, and weakest in Serbia, Romania and Hungary. The median estimated long-run pass-through was lowest in Albania, and highest in Bulgaria, Croatia and Bosnia and Herzegovina.

MNI London Bureau | +44 20 3983 7894 | luke.heighton@marketnews.com
Policy NewsCentral Bank NewsStoryCEEMEAEurozoneEuropean Central Bank (ECB) Market NewsBriefEuropean Central BankRegion
MNI London Bureau | +44 20 3983 7894 | luke.heighton@marketnews.com
Policy NewsCentral Bank NewsStoryCEEMEAEurozoneEuropean Central Bank (ECB) Market NewsBriefEuropean Central BankRegion

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