Romania and Serbia to cut interest rates further

This week there are central bank meetings in Romania (Wednesday) and Serbia (Thursday). We expect both central banks to cut key interest rates by 25bp. In Romania, the new inflation projection will also be released after the central bank meeting. As for price developments, July’s inflation rate will be published in Hungary and producer prices will be released in Croatia and Serbia. Further, data on the development of retail and industry sectors in June will be released in several CEE countries (Hungary, Slovakia, Romania and Czechia). Finally, trade data for June will be released in Hungary, Czechia, Romania and Slovakia.