Page 78 - bne_May 2021_20210501

78 I New Europe in Numbers bne May 2021
Ukraine inflation vs monetary policy rates %
Source: NBU
NBU hikes rate 100bp to 7.5%
The National Bank of Ukraine (NBU) raised Ukraine’s prime rate by a full percentage point, to 7.5% on April 16, more than analysts anticipated, after inflationary pressures surged in March.
Inflation pressures have grown across the whole region. The NBU was the first of the central banks in Eastern Europe to hike rates and was followed by the Central Bank of Russia (CBR), which surprised markets with a 25bp hike in March.
Slovenia’s blue-chip index at its highest level in over a decade
Slovenia’s bourse blue-chip index SBI TOP exceeded 1,000 points on April 7, which is the highest value since the end of 2009.
SBI TOP went up by 0.78 points finishing at 1003.38 points, according to Ljubljana Stock Exchange (STA) data.
Rosstat revises 2020 GDP contraction to milder 3% y/y, 4Q20 data points to strong recovery momentum
Russia’s economy fared much better in the last quarter of last year than expected, according to the state statistics agency's revised figures released on April 1.
Rosstat’s second GDP estimate for 2020 points to an even shallower contraction of 3% year on year in 2020. On a quarterly basis, the recovery momentum continued into 4Q20, with GDP bouncing back from a 7.8% y/y contraction in 2Q20 to contractions of 3.5% y/y in 3Q20 and 1.8% y/y in 4Q20.
Poland’s CPI surprises with jump of 3.2% y/y in March, flash estimate shows
The Polish CPI expanded 3.2% y/y in March, the inflation rate picking up 0.8pp versus the preceding month, statistical office GUS said on March 31.
The sharp increase surprised the market - which expected growth of 3% at the most – shifting this year’s inflation trajectory further up in effect. The main drivers were fast-rising prices of fuels – owing to dynamic growth in oil prices – as well as core inflation, which increased an estimated 3.9% y/y in March, up 0.2pp versus the preceding month.
Russia GDP y/y %
Source: Rosstat, Ministry of Economy
Poland inflation CPI y/y %
Source: GUS
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