Macro

Growth in Romania is now expected at only 1.8% in 2023 as a whole,  considering the slowdown in the first half of the year, according to a report published on Wednesday (Sept. 27) by the European Bank for Reconstruction and Development (EBRD). The London-based financial institution’s  projection was downwardly revised from an initial 2.5% one in May. Romania’s economy proved resilient in

Romania, Hungary and the Czech Republic are the European economies most vulnerable to a new rise in energy prices, according to the latest EY European Economic Outlook. “Our analysis shows that Europe is more vulnerable to a renewed increase in energy prices than other major economies, in particular the US. In the event of another spike in energy costs, the most adversely

The Bank of England (BoE) hiked interest rates for the eleventh time in a row to 4.25% on Thursday (March 23), in line with expectations, and pushing borrowing costs to fresh 2008-highs. The policymakers emphasized they would continue to monitor the domestic economic trends, stressing that additional tightening can be anticipated if data indicate that inflationary pressures remain elevated. The BoE has been

The inflation rate in Switzerland rose to 3.3% in January from a year earlier, largely reflecting higher food and energy prices, the Federal Statistics Office said, the highest reading since September 2022, from 2.8% in the prior month and above market expectations of 2.9%. Core inflation that excludes fresh food, energy and fuel, remained unchanged at 2.2%. The increase in inflation was

The Organisation for Economic Co-operation and Development (OECD) said that global growth is set to slow to 3.1% in 2022 and fall even further to 2.2% in 2023 The OECD stressed that “uncertainty about the outlook is high” and the risks have become “more skewed to the downside and more acute” but the global economy should avoid a recession next year “We

Sharply rising inflation, political unrest, trade disruptions from Brexit and COVID, social distress and an energy crisis, are all making the British economy appear more like one from the developing world rather than the sixth largest in the world, according to a research note from Christopher Dembik, head of macro analysis at Saxo Bank. “What Brexit has not done by itself, Brexit

The annual inflation rate in the US decreased to 8.5% in July from an over 40-year high of 9.1% hit in June, the Labor Statistics Bureau revealed in its report on Wednesday (Aug.10). The figure was slightly cooler than the 8.7% expected by analysts surveyed by Dow Jones. Month on month, the Consumer Price Index (CPI) was unchanged compared to June. After

Annual inflation rate in the eurozone accelerated further to a new record high of 8.6% in June from 8.1% in May, Eurostat data showed Friday (July 1). Figures topped market expectations of 8.4%. Energy had the highest impact on the annual rate, soaring 41.9% compared to June last year followed by the price increases of food, alcohol & tobacco of 8.9%, non-energy

Annual inflation rate in Germany eased to 7.6% in June from 7.9% in May which was the highest reading since German reunification, preliminary data from the Federal Statistical Office (Destatis) showed on Wednesday (June 29). The rate was expected to rise to a new record of 8.0%.Energy prices rose by 38.0% year on year. Food prices, too, increased above average (+12.7%). Destatis