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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) accelerated the pace of its tightening cycle and hiked its policy rate by 75bps to 3.75% at today's meeting (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).
- As for other CEE countries, inflationary pressures have remained elevated in Romania; CPI inflation surged to 10.2% in March, its highest level since October 2004, diverging significantly from the central bank's 1.5%-3.5% target.
- April inflation print will come out on May 11, with CPI expected to accelerate to 11.1% YoY.
- USDRON is slightly up following the decision, but continues to trade within its 2W range between 4.6490 and 4.7240.
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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