The Monetary Policy Council (RPP), the Polish central bank’s rate-setting body, increased the reference interest rate by 100 basis points, to 4.50% on April 6, surprising economists who expected half the increase. The National Bank of Poland’s lombard rate was raised from 4.00% to 5.00%, the rediscount rate from 3.55% to 4.55% and the discount…Details
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Under current conditions state debt maintenance costs may increase slightly, economist of the Bank of Latvia Karlis Vilerts has said at a meeting of Saeima’s Sustainable Development Committee. Although the interest rates remain very low, the high inflation is expected to contribute to a gradual rise of interest rates and, as a result, a rise…Details
Lithuania cannot unilaterally cut off railway transit between mainland Russia and the exclave of Kaliningrad, according to Transport Minister Marius Skuodis. “As for unilateral decisions on the Kaliningrad transit, such a thing is probably not theoretically possible, because this is an agreement between the European Union and Russia,” he told reporters on April 6. If…Details
Total production of industrial enterprises in Estonia rose by 1.7% YoY at constant prices on year in February, state agency Statistics Estonia reported. Output increased by 4.7% in manufacturing, the sector with the largest growth, though it decreased by 11.8% in mining and by 16.6% in energy production. Helle Bunder, Statistics Estonia analyst, said: “In…Details
President of Ukraine Volodymyr Zelensky has called on Spanish companies to stop doing business with Russia. “I know that many of your companies have already stopped financing the Russian military machine through taxes. I want to thank you, your citizens and your government. I am grateful to these companies, to your entire state and society…Details
As of March 31, the banking system recorded an inflow of UAH 28 billion (in all currencies) to deposits of individuals and legal entities, Head of the National Bank, Kyrylo Shevchenko, reported. “As of March 31, we see the inflow worth the equivalent of UAH 28 billion to deposits of individuals and legal entities (in…Details
The ruling coalition in Latvia is in agreement that the country should shut down supplies of natural gas from Russia, said Latvian PM Krisjanis Karins after a meeting of coalition parties on April 4. The PM stressed that gas supply-wise Latvia would be independent from Russia, and this would be accomplished by resolving related issues,…Details