Expert call · Fund manager · Romania

Fund manager, Romania: your answer wanted

The ECB raised rates by 25 bp at its 10 Sep meeting, effective 16 Sep: deposit rate 2.50%, main refinancing rate 2.65%, lifting the cost of financing a euro-denominated deal and narrowing the cushion the wider Bucharest yield appears to offer.

1. What yield gap over Warsaw, in basis points, would you need before underwriting a Bucharest asset this quarter, and has that required gap widened or narrowed since the ECB's 10 Sep rate decision?

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