The rebound in Turkish industrial production growth to 2.6% y/y in December provides an encouraging sign that the economy may have emerged from its recent slump. But even so, growth over Q4 as a whole was extremely weak. Meanwhile, although Czech inflation came in at a stronger-than-expected 0.1% y/y last month, core inflation fell further. This increases the likelihood that monetary conditions will be loosened at the next MPC meeting in March.
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