• ECB President, Jean-Claude Trichet, stated that his words about high alertness were said before financial markets shake (54 EUR, -3,46%) and that all risks will be considered again. This could mean that ECB is going to postpone further interest rates hike.
• Cereals production reached 5.46mt this year which is 12% above last year’s volumes. Average yield from one hectare increased almost by 7%.
• Hungarian central bank left interest rates, according to expectations, unchanged. Prime rate remains at 7.75%. Bank also lifted its inflation forecast for next year to 4.5%.
• Producers’ price index in Slovakia increased by 0.5% in July. Year-on-year producers’ inflation reached 1.3% while both figures are above estimates.
• Sales of existing houses in the USA declined by 0.2% in July to 5.75m which is slightly better than expected 5.70m.