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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 100bps to 4.75% at today's meeting (vs. 75bps exp.).
- It is the seventh time that RCB is hiking rates, its policy rate is now up 350bps since its low reached in 2021.
- Another 'aggressive' hike from Romania Central Bank, which decided to follow its CEE peers by surprising the market as inflation continues to accelerate in the CEE region.
- CPI inflation surged to 14.2% in May, its highest level since November 2003, diverging significantly from the central bank's 1.5%-3.5% target.
- June inflation print will come out on July 12, with CPI expected to surge above 15% YoY.
- Selling pressure on CEE FX has been surging this week amid global risk off sentiment; USDRON broke above the 4.80 level yesterday and is currently trading at an 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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