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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
CEE
- Romania Central Bank (RCB) governor Isarescu mentioned in press conference that Romania cannot afford weaker RON due to Fast CPI Passthrough.
- As a reminder, inflation accelerated to 13.8% YoY in April (vs. 11.1% exp.), up from 10.2% the previous month.
- As a result, RCB accelerated the pace of its tightening cycle and hiked its policy rate by 75bps to 3.75% this week (vs. 50bps exp.).
- It is the sixth time that RCB is hiking rates, its policy rate is now up 250bps since its low reached in 2021.
- Another 'aggressive' hike from Romania Central Bank, which decided to follow its CEE peers and started to raise its policy rate in October 2021 (see chart below).
- USDRON has been trending higher this morning, breaking above its 4.7250 resistance and currently trading at a new all-time high.
Source: Bloomberg/MNI
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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