EME Macro/Strategy: macro all-in-one (11-17 March)
The key developments last week centred around the ECB’s unveiling of the new operational framework, guiding on how policy will be implemented in the coming years. Press reports from Hungary suggested that the government is reviewing the contentious amendment to the Central Bank law, bringing some relief to the HUF. Inflation eased across Romania, the Czech Republic, and Poland; however, Poland should see a rebound from April, owing to the restoration of the 5% VAT on food products. The economic data from Türkiye signalled a slight deceleration, while the CBRT introduced additional indirect tightening measures. Lastly, the Central Bank of Georgia lowered the policy rate by 75bps, while the Central Bank of Uzbekistan remained on hold.
WOOD & Company is the leading investment bank in Emerging Europe. Founded in 1991 and head-quartered in Prague, our footprint spans the region and touches investors around the globe.
A pioneer in Emerging Europe, WOOD executed many of the first CEE equity trades and landmark investment banking transactions. Our electronic trading platform was the first in the region, and remains the best. We are continually expanding our relevance and reach in these ever-evolving markets.
Our equity market share reflects our stature: 7% in Warsaw, 20% in Bucharest, 16% in Hungary, 40% in Prague and 5% in Vienna. Our distribution is unparalleled, with the largest salesforce in the region, servicing a uniquely diverse investor base.
We couple local expertise with a truly international perspective. With offices on the ground in the region, and in key financial hubs such as London and Milano, we are never far from our clients and we remain at the forefront of what’s afoot in the CEE emerging and frontier landscape.
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