Poland: the reference rate kept at 1.50 per cent

(TeroVesalainen, CC)

Moldova’s government approves a state program “First House”

Latvia: Exports of goods up 9.5 per cent, imports up 16.5 per cent

Poland

The Monetary Policy Council (MPC) decided to keep interest rates unchanged. On November 8th, it decided that the reference rate remains at 1.50 per cent.

The Polish Radio reminds that the last time MPC cut interest rate was March 2015 – by 50 basis points. It then commented it was “closing a cycle of monetary policy easing”.

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Moldova

Moldovan cabinet approved a bill implementing the state program “First House”. The program’ goal is to facilitate, especially for young families, access to home loans by partially guaranteeing them. Deputy Finance Minister Yuri Cicibaba said, in an interview for the portal IPM.md, that the initiative was submitted after analyzing the examples of the neighboring states, especially Romania, where over 200,000 people have benefitted from home loans this way since 2009

Cicibaba estimates that the number of the beneficiaries of the program will be near to 3,000 a year. “According to statistics, the banks annually provide home loans to 1,300-1,400 private individuals. We hope to double this figure,” he added.

11 Moldovan banks match the criteria to take part in the program but the government expects that in the first phase only 2 or 3 of them will join.

A single room apartment in a newly erected building costs EUR30,000-50,000. But on the secondary market, in Chisinau, a three-room apartment costs about EUR30,000.

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Latvia

Leta Agency informs that imports and exports from Latvia grew in the period January-September 2017. According to the data from the Central Statistical Bureau, in the period mentioned, Latvia exported goods worth EUR8.255bn (up 9.5 per cent) and imported goods worth EUR10.375bn (up 16.5 per cent).

The main export partners are the EU countries: Lithuania (16.2 per cent of total exports), Estonia (10.6 percent), Germany (7.1 per cent) and the United Kingdom (5.1 per cent). The country imports the most from Lithuania (17.2 per cent of total imports), Germany (10.8 percent), Poland (8.7 per cent) and Estonia (7.1 per cent).

The main export commodities were wood and wood goods, as well as wood charcoal. As an importer, the country purchases mineral fuels, mineral oils and products of their distillation.

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What’s up in indexes

BET (of Bucharest) increased from 7,771.75 index points Wednesday, November 8th to 7,747.13 index points Thursday, November 9th. It’s down 0.39 per cent d/d and up 14.25 per cent y/y.

BUX (of Budapest) increased from 40,122.00 index points Wednesday, November 8th to 40,273.66 index points Thursday, November 9th. It’s up 0.38 per cent d/d and up 32.63 per cent y/y.

CROBEX (of Zagreb) increased from 1,839.39 index points Wednesday, November 8th to 1,848.47 index points Wednesday, November 9th. It’s up 0.49 per cent and down 4.26 per cent y/y.

OMXR (of Riga) increased from 1,026.40 index points Wednesday, November 8th to 1,038.74 index points Wednesday, November 9th. It’s up 1.20 per cent d/d and up 46.91 per cent y/y.

OMXT (of Tallinn) increased from 1,222.28 index points Wednesday, November 8th to 1,232.82 index points Wednesday, November 9th. It’s up 0.86 per cent d/d and up 21.86 per cent y/y.

OMXV (of Vilnius) decreased from 664.24 index points Wednesday, November 8th to 661.70 index points Wednesday, November 9th. It’s down 0.38 per cent d/d and up 19.65 per cent y/y.

PX (of Prague) increased from 1,054.07 index points Wednesday, November 8th to 1,060.53 index points Wednesday, November 9th. It’s up 0.61 per cent d/d and up 18.13 per cent y/y.

SAX (of Bratislava) increased from 319.49 index points Wednesday, November 8th to 320.48 index points Wednesday, November 9th. It’s up 0.31 per cent d/d and up 1.92 per cent y/y.

SOFIX (of Sofia) decreased from 672.49 index points Wednesday, November 8th to 671.73 index points Wednesday, November 9th. It’s down 0.11 per cent d/d and up 26.11 per cent y/y.

UX (of Kyiv) decreased from 1,260.55 index points Wednesday, November 8th to 1,259.45 index points Wednesday, November 9th. It’s down 0.09 per cent d/d and up 50.93 per cent y/y.

WIG20 (of Warsaw) decreased from 2,513.34 index points Wednesday, November 8th to 2,478.21 index points Wednesday, November 9th. It’s down 1.40 per cent d/d and up 38.40 per cent y/y.

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