Economic upswing vs. geopolitics 04.04.2014

“After a very good start into the year 2014, the severe winter weather in the USA, worries about weak performance in the Emerging Markets (EM), especially in China, and, first and foremost, the conflict between Russia and Ukraine showed their impact as risk factors. The last two points in particular are factors which investors will continue to focus on in the second quarter, along with factors providing positive economic momentum. In our baseline scenario for the Russia-Ukraine conflict, we project further sanctions from the West towards Russia but no harsh reciprocal economic embargoes. In this environment, we see our GDP forecasts for this year well supported and unchanged at 1.5 per cent for the euro area and 2.5 per cent for the USA“, says Valentin Hofstätter, department head of Bond Market & Currency Research at Raiffeisen Bank International AG (RBI), his presentation of the „Financial Markets Global Strategy”.

7.97% fixed interest rate for the first year on Consumer Loan in promotional campaign of Raiffeisenbank 03.04.2014

Raiffeisenbank (Bulgaria) launched a promotional campaign on new consumer loans, in which clients can benefit from lower interest rate for loans of a maximum amount of BGN 35 000. During the campaign, the interest rate is 7.97% for loans up to 7 years and 8.97% for a period exceeding 7 years. The interest rate is fixed for the first year, and for the remaining period it is formed based on a 6-month SOFIBOR plus margin. The period for paying the loans is up to 10 years with no early repayment fee. A bonus to the consumer loan is a credit card with preliminarily approved limit with no service fee for the first year. The promotional terms are valid for new consumer loans applications till 30 June 2014.

Political clouds over economic recovery 01.04.2014

“For Austria, our 2014/15 GDP estimates have remained unchanged for more than a year now. Leading indicators suggest that the recovery of the Austrian economy will continue to accelerate in the course of this year. The high point in economic activity should be reached during the winter half year 2014/15, as reflected in the projected GDP growth rates of 1.5 per cent for 2014 and 2.3 per cent for 2015,” starts Peter Brezinschek, head of Raiffeisen Research at Raiffeisen Bank International AG (RBI), his analysis in the recent publication ”Central & Eastern European Strategies“ for Q2 2014.

Bank Rates
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CHF/BGN 1.582 1.622
EUR/BGN 1.950 1.959
GBP/BGN 2.353 2.411
USD/BGN 1.398 1.434