Emerging Europe Economics Update Hungarian rate hike reflects political, not economic, concerns The outlook for inflation does not offer a particularly convincing justification for this afternoon’s surprise decision to raise Hungarian interest rates. Instead, we think the move is best viewed as... 29th November 2010 · 1 min read
Europe Commercial Property Update Will falls in Budapest retail yields be extended any further? Given our fairly downbeat view on Hungary’s consumer sector outlook, the continued above-average performance of the Budapest retail investment market is difficult to rationalise. In our view, the weak... 26th November 2010 · 1 min read
Emerging Europe Economics Focus Hungary's 2011 Budget: an exercise in smoke and mirrors It looks increasingly likely that the Hungarian government will meet, or even outperform, its targets for reducing the budget deficit over the coming years. But with temporary revenue raising measures... 23rd November 2010 · 1 min read
Emerging Europe Economics Update Polish MPC split down the middle The acceleration in headline inflation seen across Emerging Europe in recent months has been driven predominantly by a rise in food prices. This follows droughts in Russia and widespread flooding... 17th November 2010 · 1 min read
Emerging Europe Chart Pack 'Currency wars' bypass Emerging Europe (Oct 10) Concerns that a rapid influx of capital into emerging markets may sow the seeds of the next bubble do not really apply in Eastern Europe. This is because, so far, at least, capital inflows to the... 29th October 2010 · 1 min read
Emerging Europe Economics Update Turkey steps up its 'exit strategy' (Oct 10) It has been a long time coming, but policymakers in parts of the region are gearing up to begin tightening monetary policy. The Central Bank of Turkey accelerated its so-called ‘exit strategy’ from... 18th October 2010 · 1 min read
Emerging Europe Economics Update Hungarian fiscal efforts do not go far enough The Hungarian government last night announced a fresh set of fiscal austerity measures, which should allow it to at least come close to meeting next year’s budget deficit target of 3% of GDP. But its... 14th October 2010 · 1 min read
Emerging Europe Economics Update Another strong showing for the centre-right After recent gains in Slovakia and the Czech Republic, centre-right parties had another strong showing in elections in Hungary and Latvia this weekend. But while Latvia’s ruling coalition has already... 4th October 2010 · 1 min read
Emerging Europe Chart Pack Still in no mood to tighten Growth in some economies in Emerging Europe, not least Turkey, is starting to look impressive. But underlying inflation pressures remain relatively benign, and concerns over the durability of the... 30th September 2010 · 1 min read
Emerging Europe Economics Update Still in no rush to tighten (Sep 10) Growth in some economies in the region is starting to look impressive but underlying inflation pressures remain benign and concerns over the durability of the global recovery will keep policymakers... 20th September 2010 · 1 min read
Emerging Europe Economic Outlook The twin-speed recovery (Q3 2010) Some economies in Emerging Europe should grow at a decent pace over the next year or so, but most are facing a long haul back to health and the likelihood of renewed tensions within the eurozone... 17th September 2010 · 1 min read
Emerging Europe Economics Update Hungary starts to the pay the price for political posturing The past week has brought further evidence that Hungary’s government is starting to pay the price for its bellicose talk. Bond yields are rising and the forint has failed to rally in recent weeks... 9th September 2010 · 1 min read
Emerging Europe Chart Pack Solid Q2 growth, but strong headwinds persist (Aug 10) Most economies in Emerging Europe posted positive quarterly growth in Q2 and some countries, notably Russia and Turkey, remain on track for an impressive rebound this year. However, a number of... 25th August 2010 · 1 min read
Europe Commercial Property Update Hungarian retail yield recovery may prove premature The recent sharp fall in Hungarian prime retail yields is encouraging. However, we suspect that the recovery may have got ahead of itself. In our view, the very weak consumer outlook and the potential... 25th August 2010 · 1 min read
Emerging Europe Economics Update Policymakers to look through any food price spike (Aug 10) Emerging Europe Central Bank Watch 1 Aug. 2010 EMERGING EUROPE CENTRAL BANK WATCH Economies in Emerging Europe are more vulnerable than those in the West to a spike in wheat prices following recent... 20th August 2010 · 1 min read
Emerging Europe Chart Pack Biting the fiscal bullet (Jul 10) With the notable exception of Hungary, most countries in Emerging Europe have now started to step up efforts at fiscal consolidation. In particular, the new governments in Slovakia and the Czech... 30th July 2010 · 1 min read
