Fitch to review Romania’s rating

CEE Insights , 17. Feb.
Fitch to review Romanias rating
Fitch to review Romanias rating
This week in CEE

Poland will release the most interesting set of data, as industrial output growth for January will be published, alongside producer prices and Januarys wage and employment growth. Data on the labor market will also be released in Croatia (Decembers wage growth and Januarys unemployment) and in Slovakia (unemployment). Further, we will see Januarys inflation in Slovakia and Serbia as well as the current account balance in Serbia and Slovakia. On Friday after the market closes, Fitch will announce the rating decision on Romania. Fitch changed the outlook of Romania to negative in December in an unscheduled review. We believe that the rating will not change on Friday. We are convinced that rating agencies will wait until the outcome of the presidential elections and fiscal consolidation path afterward before undertaking any rating decisions. Finally, we have been revising our growth and inflation forecast as well as interest rate outlook for several CEE countries and will communicate the details in the CEE Growth Navigator report (to be released in the upcoming days).

nothing here
FX market developments

Bond market developments

In case you missed
CEE: Some of the CEE countries managed to avoid recession. Labor market untouched by slowdown HR: Technical recession, but brighter outlook. We revise our growth forecast up to 1.0% in 2023. RO: Slow road to recovery for manufacturing. 4Q22 GDP in line with expectations. January inflation surprised to downside SK: Change of price lists in services. Labour market still on a positive trajectory with solid economic growth at the end of the year. Fitch affirmed Slovakia’s A with negative outlook. SI: 4Q22 GDP growth decelerating to 0.2% y/y