Czech central bank kept interest rates unchanged

CNB headquarters, Prague, Czech Republic (CNB, Public domain(

Ukraine gets USD1.32bn from placing eurobonds

Baltic ports: cargo turnover up 4.2 per cent Jan-Aug 2017

Czech Republic

On September 27th, the board of the Czech National Bank (CNB) decided to keep interest rates unchanged. So the two-week repo rate (2W repo rate) was maintained at 0.25 per cent, the discount rate at 0.05 per cent and the Lombard rate at 0.50 per cent.

As Radio Praha reports, the decision matches Czech experts’ expectations. According to the Radio, “most analysts ahead of the meeting were saying another rise in interest rates to cool down a booming economy were likely to come in November”.

The Radio Praha pointed out the last time when the bank raised interest rates was in August 2017 – and it was a modest rise of 0.20 points to take the reference rate to 0.25 per cent.

“The Czech bank is the first in Europe to start what is seen as a largely inevitable rise in rates and end of cheap money,” the article concludes. The economic growth was 4.5 per cent y/y in Q2’17. The employment was up 1.3 per cent from April to June 2017, compared with the same period of 2016. Also monthly wages were on average 7.6 per cent higher than in Q2’16.

>>More

Ukraine

Ukrainian Finance Ministry informed that funds in the amount of USD1.32bn from placing sovereign Eurobonds, due in 2032 for USD3bn, were sent to the account of the State Treasury Service of Ukraine. As the Interfax reports, on September 18th, Ukraine closed the offer to place 15-year Eurobonds worth of USD3bn. The securities were placed at 7.375 per annum. Demand on the new Eurobonds was around USD9.5bn.

The ministry also informed that the deal to purchase Eurobonds due in 2019 and 2020 for USD1.68bn has been completed.

The agency quotes ministry’s press release: “The transaction was intended to reduce the peak burden on the national budget when paying the state debt in 2019-2020. The funds raised from the new Eurobonds sent to the account of the State Treasury will be allocated to finance the general fund of the national budget”.

>>More

Baltic states

Baltic ports become busier. According to the Latvian Central Statistical Bureau, all ports of the Baltic states together handled 100.461 million tons of cargo in the period January-August 2017. It’s up 4.2 per cent (or 4.031 million tons) compared with the same period of 2016. The leader was the Lithuanian port of Klaipeda as it reloaded 27.697 million tons, which was 4.8 per cent more than in the period January-August 2016.

The Baltic Course informs, that 42.9 per cent of all cargos were reloaded in Latvia, 33.9 per cent in Lithuania and 23.3 per cent in Estonia.

In all three Baltic states the growth of cargo turnover in the period mentioned above was observed. The turnover of Latvian ports grew by 4.8 per cent or 1.956 million tons y/y, of Lithuanian ports grew by 5.3 per cent or 1.71 million, of Estonian it grew by 1.6 per cent or 362,100 tons.

>>More

What’s up in indexes

BET (of Bucharest) decreased from 7,942.50 index points Tuesday, September 26th to 7,935.75 index points Wednesday, September 27th. It’s down 0.08 per cent d/d and up 14.79 per cent y/y.

BUX (of Budapest) decreased from 37,319.24 index points Tuesday, September 26th to 37,244.00 index points Wednesday, September 27th. It’s down 0.20 per cent d/d and up 35.53 per cent y/y.

CROBEX (of Zagreb) decreased from 1,812.32 index points Tuesday, September 26th to 1,804.03 index points Wednesday, September 27th. It’s down 0.46 per cent and down 7.01 per cent y/y.

OMXR (of Riga) decreased from 1,005.29 index points Tuesday, September 26th to 994.98 index points Wednesday, September 27th. It’s down 1.03 per cent d/d and up 37.64 per cent y/y.

OMXT (of Tallinn) decreased from 1,225.75 index points Tuesday, September 26th to 1,215.50 index points Wednesday, September 27th. It’s down 0.84 per cent d/d and up 22.38 per cent y/y.

OMXV (of Vilnius) decreased from 639.59 index points Tuesday, September 26th to 638.79 index points Wednesday, September 27th. It’s down 0.13 per cent d/d and up 17.57 per cent y/y.

PX (of Prague) increased from 1,042.50 index points Tuesday, September 26th to 1,043.68 index points Wednesday, September 27th. It’s up 0.11 per cent d/d and up 20.47 per cent y/y.

SAX (of Bratislava) decreased from 327.19 index points Tuesday, September 26th to 317.12 index points Wednesday, September 27th. It’s down 3.08 per cent d/d and down 0.92 per cent y/y.

SOFIX (of Sofia) increased from 683.35 index points Tuesday, September 26th to 648.12 index points Wednesday, September 27th. It’s up 0.11 per cent d/d and up 38.69 per cent y/y.

UX (of Kyiv) increased from 1,140.44 index points Tuesday, September 26th to 1,156.88 index points Wednesday, September 27th. It’s up 1.44 per cent d/d and up 41.54 per cent y/y.

WIG20 (of Warsaw) decreased from 2,443.34 index points Tuesday, September 26th to 2,433.82 index points Wednesday, September 27th. It’s down 0.39 per cent d/d and up 40.46 per cent y/y.

Share this post

TOP