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Romania Inflation Decelerates To 14.96% in July

CEE
  • Economic data showed earlier that inflation in Romania decelerated to 14.96% in July (vs. 14.63% expected), down from 15.05% the previous month.
  • Even though inflation came in higher than expected, we have seen that an increasing number of analysts are now expecting inflation to peak this summer and to start gradually decelerating in the coming months.
  • Last week, we saw that Romania central bank (RCB) eased down the pace of its tightening cycle and delivered a 75bps hike, levitating the policy rate to 5.5% (vs. 5.75% exp.)
  • It was the eighth time that RCB is hiking rates, its policy rate is now up 425bps since its low reached in 2021.
  • The ease in risk aversion has been supporting the RON in recent weeks, with USDRON breaking below its 50DMA yesterday.
    • Next support to watch on the downside stands at 4.6950.

Source: Bloomberg/MNI

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  • Economic data showed earlier that inflation in Romania decelerated to 14.96% in July (vs. 14.63% expected), down from 15.05% the previous month.
  • Even though inflation came in higher than expected, we have seen that an increasing number of analysts are now expecting inflation to peak this summer and to start gradually decelerating in the coming months.
  • Last week, we saw that Romania central bank (RCB) eased down the pace of its tightening cycle and delivered a 75bps hike, levitating the policy rate to 5.5% (vs. 5.75% exp.)
  • It was the eighth time that RCB is hiking rates, its policy rate is now up 425bps since its low reached in 2021.
  • The ease in risk aversion has been supporting the RON in recent weeks, with USDRON breaking below its 50DMA yesterday.
    • Next support to watch on the downside stands at 4.6950.

Source: Bloomberg/MNI