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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) eased down the pace of its tightening cycle and delivered a 75bps hike at today's meeting, levitating the policy rate to 5.5% (vs. 5.75% exp.)
- It is the eighth time that RCB is hiking rates, its policy rate is now up 425bps since its low reached in 2021.
- Today's 'dovish' hike was not a surprise given the recent decisions from CEE policymakers (i.e. CNB maintained rates steady) as central banks have started to consider the growth side of the equation at the latest meetings.
- CPI inflation surged to 15.05% in June, its highest level since October 2003, diverging significantly from the central bank's 1.5%-3.5% target.
- July inflation print will come out on August 11, with CPI expected to decelerate to 14.8% YoY.
- The ease in rick aversion has been supporting the RON in recent weeks, with USDRON slowly consolidating towards its 4.80 support.
- Next level to watch on the downside stands at 4.7630 (50DMA).
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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