The renewed surge in virus cases and tightening of restrictions across Central Europe will deal a heavy blow to the recovery in the first half of this year. Meanwhile, slow vaccine rollouts mean that the ‘vaccine bounce’ that we had anticipated from Q2 onwards is now unlikely to occur until Q3.
Note: Chief Emerging Markets Economist William Jackson and Senior Emerging Markets Economist Jason Tuvey will be discussing the outlook for monetary policy in Turkey and the rest of the emerging world after the CBRT meeting on Thursday at 14.00 GMT. If you haven’t done so already, register here.
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