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2021/11/09 / Erste Group Research

Inflation developments and decisions of the regional central banks are in the spotlight this week. Czechia, Romania and Slovakia will publish October inflation data. We expect consumer price increases to have accelerated in all of the above, driven by demand as well as supply side factors, with fuel and energy prices playing an important role.
Two CEE central banks will hold their rate setting meetings. We expect the Romanian central bank to raise the key rate by 50bp to 2%, although in light of the recent surprises delivered in Czechia and Poland, we see risks of a bolder 75bp move. Despite the inflation being well above the target in Serbia the local central bank will most probably remain on hold and keep its key rate at 1%.

General information

AuthorErste Group Research
Product nameVideo
Topic in focusFX, Macro/ Fixed income
Economy in focusPoland, Romania, Serbia
Currency in focusPolish Zloty, Romanian Leu, Serbian dinar
Sector in focus-


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