Emerging Europe Chart Pack Russia and Turkey struggling, CEE still booming Recent activity data suggest that recoveries in Emerging Europe’s two largest economies – Russia and Turkey – have been disappointing. In Russia, where the economy expanded by a meagre 0.5% y/y in Q1... 25th June 2019 · 16 mins read
Emerging Europe Chart Pack Monetary tightening comes into focus Emerging Europe has been one of the few parts of the emerging world where attention has centred on monetary tightening (rather than loosening) in the past month. A rise in core inflation to multi-year... 29th May 2019 · 1 min read
Emerging Europe Chart Pack Regional GDP growth reaches a trough in Q1 Aggregate GDP growth in Emerging Europe appears to have slowed from 1.9% y/y in Q4 to around 1.3% y/y in Q1. While we don’t anticipate much of a rebound in the coming quarters, it does at least appear... 29th April 2019 · 1 min read
Emerging Europe Chart Pack Emerging Europe inflation bucking the trend Emerging Europe was one of the few parts of the world where inflation rose last month. In the Czech Republic, Hungary and Romania, this was driven by rapid wage growth which has pushed core inflation... 22nd March 2019 · 1 min read
Emerging Europe Chart Pack Fiscal stimulus on its way Developments this month suggest that governments in parts of the region are embarking on fiscal stimulus to boost growth and prop up popular support. Recent policy announcements in Russia and Turkey... 27th February 2019 · 1 min read
Emerging Europe Chart Pack Further evidence of a Q4 slowdown Data released over the past month suggest that regional GDP growth slowed from to 2.4% y/y in Q3 to a two-year low of 1.2% y/y in Q4. This was due mostly to the economic slump in Turkey, where... 31st January 2019 · 1 min read
Emerging Europe Chart Pack Fall in inflation gives central banks breathing space The fall in inflation across much of Emerging Europe last month was surprisingly sharp, which in part was due to lower oil prices but also (and more unexpectedly) a dip in food inflation. One... 19th December 2018 · 1 min read
Emerging Europe Chart Pack Russian markets hold up despite oil fall, Ukraine spat Russian financial markets have tumbled following the naval dispute with Ukraine, but the big picture is that local asset prices have held up well this month given the backdrop of falling oil prices... 26th November 2018 · 1 min read
Emerging Europe Chart Pack Regional growth slowed in Q3 After a strong Q2, growth in Emerging Europe as a whole slowed in Q3, from 3.5% y/y to around 2.8% y/y. In Russia and Poland, this slowdown has been relatively gradual and driven by weakness in... 25th October 2018 · 1 min read
Emerging Europe Chart Pack Central banks in tightening mode Central banks in Emerging Europe shifted into tightening mode this month as policymakers in Turkey, Russia and Ukraine hiked interest rates in response to pressure on their currencies. The Czech MPC... 24th September 2018 · 1 min read
Emerging Europe Chart Pack Turkey in crisis Turkey plunged into a full-blown currency crisis this month following the imposition of US sanctions and an absence of (or refusal to pursue) an orthodox policy response. Inflation, which was already... 24th August 2018 · 1 min read
Emerging Europe Chart Pack Central banks becoming more hawkish The rise in inflation in most of Emerging Europe over the past month has caused central banks to adopt a more hawkish tone. Policymakers in Romania and the Czech Republic are likely to hike interest... 30th July 2018 · 1 min read
Emerging Europe Chart Pack Hawkish shift across the region Central banks across Emerging Europe have become increasingly hawkish in the past few weeks, supporting our view that policy in the region will (in most places) be tighter than most expect over the... 28th June 2018 · 1 min read
Emerging Europe Chart Pack Relief for the Turkish lira proves fleeting Turkey has been in the grips of a currency crisis which forced the central bank to hike interest rates by 300bp on 23rd May, but that only provided brief respite for the lira. For now, there are signs... 24th May 2018 · 1 min read
Emerging Europe Chart Pack Central Europe shrugs off softness in euro-zone The latest data suggest that, while GDP growth in Central Europe has now peaked, it remained strong at 4.5-5.0% y/y in Q1. That came in spite of a raft of softer activity and survey figures from key... 25th April 2018 · 1 min read
Emerging Europe Chart Pack Regional growth stays strong in Q1 The latest activity figures suggest that Emerging Europe’s strong economic performance continued in the early months of this year. Russia’s recovery has resumed following a slowdown in the second half... 26th March 2018 · 1 min read
