Long-term yields in Romania rose by 15 basis points since the start of the week, marking a significant movement in the country's financial landscape. In contrast, other nations observed a slight decline in their 10-year yields. This shift occurs as the National Bank of Romania (NBR) prepares to resume cutting rates in August, a strategic move anticipated to bring about three key rate reductions of 25 basis points each, aiming for a 5.75% rate by the end of 2025. The timing of these cuts hinges on a credible fiscal consolidation program.
Meanwhile, the Polish central bank is set to announce its interest rate decision, with expectations of maintaining the current key policy rate. As central banks navigate these financial adjustments, economic activities across the European Union reflect noteworthy environmental progress.
In 2023, greenhouse gas emissions from economic activities and households in the European Union totaled 3.4 billion tons of CO2 equivalents, marking an 18% reduction compared to 2013 levels. The CEE7 region, excluding Serbia, reported emissions totaling 723 million tons of CO2 equivalents, an 8.4% decrease over the past decade. However, sectors such as construction, transportation, and storage observed an uptick in emissions in several CEE countries, highlighting areas needing further attention.
On the currency front, the EURHUF dipped to 411, while the EURPLN settled at 4.25 on the foreign exchange market. The Czech koruna has experienced a depreciation against the euro since the week's commencement. These currency fluctuations coincide with impending U.S. economic data releases, including Retail Sales and Jobless Claims figures.
In the realm of digital currencies, Algorand's price witnessed a substantial rally, extending its gains to trade around $0.469 on Thursday after surging more than 19% the previous day. This rise reflects broader market dynamics and investor sentiments.