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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) maintained the pace of its tightening cycle and hiked its policy rate by 50bps to 3% at today's meeting.
- It is the fifth time that RCB is hiking rates, its policy rate is now up 175bps 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).
- As for other CEE countries, inflationary pressures have remained elevated in Romania; CPI inflation surged to 8.5% in February its highest level since July 2008, diverging significantly from the central bank's 1.5%-3.5% target.
- USDRON has been trending higher since the start of the month after finding support at its 50DMA on March 31. The pair broke above its 4.50 resistance this week; next level to watch on the topside stands at 4.5210.
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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