Global Economics Update What role for exchange rate ceilings? The Swiss National Bank introduced a negative deposit rate yesterday, but its main tool to combat the threat of deflation is a ceiling for the Swiss franc. Given the continued threat of deflation and... 19th December 2014 · 1 min read
Non-Euro Europe Commercial Property Outlook Prime yields to fall for another three years The stance of monetary policy is likely to stay exceptionally loose for the foreseeable future. And coupled with low inflation, we expect bond yields to stay lower for longer. Therefore, it seems... 8th December 2014 · 1 min read
Emerging Europe Data Response Turkey & Czech Republic Ind. Prod. (Oct.) The modest weakening of Turkish industrial production in October reinforces our view that, while the slowdown in the economy has now bottomed out, it’s likely to be a sluggish recovery from here on... 8th December 2014 · 1 min read
Emerging Europe Data Response Central & Eastern Europe GDP (Q3) Third quarter GDP data for Central and Eastern Europe were surprisingly strong given the headwinds facing the region from Russia and, in particular, the euro-zone. 14th November 2014 · 1 min read
Emerging Europe Economic Outlook Crisis in Russia to weigh on regional growth Growth across Emerging Europe has slowed in recent months and we expect it to remain soft over the coming quarters. The economies of Central Europe will continue to be held back by weakness in Germany... 12th November 2014 · 1 min read
Emerging Europe Chart Pack Renewed weakness in Germany hits Central Europe The past month has brought further evidence of weaker growth in Central Europe. Admittedly, August’s particularly disappointing data appear to have been distorted by variations in summer holidays. And... 24th October 2014 · 1 min read
Europe Commercial Property Update When will Prague office rents stabilise? Net absorption is likely to fall well short of the increase in new supply in the Prague office market over the next couple of years. Therefore, we have downgraded our rental growth forecasts for the... 1st October 2014 · 1 min read
Emerging Europe Economics Update Manufacturing PMIs point to activity stabilising September’s PMIs suggest that the slowdown in the region’s manufacturing sector may have stabilised towards the end of the third quarter. Encouragingly, the Polish PMI edged up, having fallen for the... 1st October 2014 · 1 min read
Emerging Europe Chart Pack Currency sell-off highlights divisions in rate outlook The sharp sell-off in the Russian ruble and Turkish lira this month couldn’t have come at a worse time for policymakers. Growth is sluggish in both countries, but high inflation and concerns about... 30th September 2014 · 1 min read
Emerging Europe Economics Update Turkish central bank keeps rates on hold, policy to remain tight The Turkish central bank kept its key interest rates unchanged today, but there are signs that policymakers have started to tighten monetary conditions via the interest rate “corridor” to counter the... 25th September 2014 · 1 min read
Emerging Europe Economics Update Euro-zone more to blame for Q2 slowdown than Ukraine The slowdown in Central and South Eastern Europe in the second quarter has raised concerns about the region’s exposure to the crisis in Ukraine. In this Watch, we dig deeper into the GDP data to see... 11th September 2014 · 1 min read
Emerging Europe Economic Outlook Emerging Europe Economic Outlook The recovery in Emerging Europe has fizzled out in recent months and we think growth will be sluggish over the coming quarters. The crisis in Ukraine presents one headwind, particularly for Russia... 5th September 2014 · 1 min read
Non-Euro Europe Commercial Property Outlook Hunt for yield will drive investors east Over the first half of the year, capital values in the Emerging European commercial property markets were little changed, while values in non-euro-zone Western markets edged a little higher. Over the... 3rd September 2014 · 1 min read
Emerging Europe Economics Update August’s PMIs suggest growth in Central Europe slowed further Last month’s batch of manufacturing PMIs suggests that the recent slowdown in the Turkish economy may have bottomed out but it provides yet further evidence of weakening growth in Central Europe. 1st September 2014 · 1 min read
Emerging Europe Chart Pack CEE recovery loses steam The raft of second quarter GDP data released in Central and South Eastern Europe this month showed that growth eased across much of the region. It’s tempting to interpret this as a sign that the... 20th August 2014 · 1 min read
Europe Commercial Property Update When will CEE office occupier demand take off? The recent fall in office take-up across the main CEE markets is a concern given the region’s large office development pipelines. But at the same time, the recent strength of office-based employment... 14th August 2014 · 1 min read
