WOOD Flash – Europe macro: ECB formulates tightening trajectory
At its June meeting, the Governing Council at the ECB announced the conclusion of asset purchases under the APP programme by early next month, and confirmed its plan to raise the interest rate by 25bps in July and by a larger increment in September. The decision was broadly in line with our expectations, but the signal of a non-standard hike has increased the possibility that the scale of tightening by the year-end may exceed the 100bps that we expect somewhat currently; however, we remain far away from a policy strategy that will see real interest rates in positive territory in the coming years.
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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