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EQUITIES

Flat To Higher In Asia

GOLD

Steady After Powell Pressure

US TSY FUTURES

TYH2 Blocked

OIL

Firmer Since Settlement

CROSS ASSET

Commodity-Tied Dollar Bloc Leads

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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.