Obbligazioni ROMANIA

Romania's central bank said on Tuesday it was looking for the "optimal way" to counter significant capital outflows amid steep falls in the leu currency after a hard-right opposition leader won the first round of a repeat presidential election.
On Tuesday JP Morgan recommended going long on the euro versus the leu in FX spot markets, with Romania's intervention policy seemingly shifting. The central bank's foreign exchange reserves stood at 62.1 billion euros at the end of April.
"Given the recent results and political developments, we have lifted our guidance for the 2025 budget execution from 7.7% of GDP to 8.7% of GDP, and skew the risks to the upside," economists at Wood&Company said in a note.
"We see an emerging risk that the Central Bank will not be able to ease monetary policy this year and may even reverse into an emergency interest rate increase if the budget outlook worsens further."
 

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