Emerging Europe Economics Update Hungary still walking a fiscal tightrope The announcement of a renewed fiscal squeeze in Hungary should help to ease market fears of a ‘Greek style’ crisis in the country. But the policies unveiled earlier today sidestep the underlying need... 8th June 2010 · 1 min read
Emerging Europe Economics Update Worrying early signs from Hungary’s new government Hungary’s new government has got off to a disappointing start, with early signs suggesting that economic populism will take priority over much-needed fiscal reform. 26th May 2010 · 1 min read
Emerging Europe Chart Pack Q1 GDP data a mixed bag (May 10) First quarter GDP data, released by most countries over the past month or so, paint a mixed picture. The highly open economies of Central Europe – notably Slovakia – continue to rebound at a fairly... 25th May 2010 · 1 min read
Emerging Europe Economics Update Politics comes into play in Hungary (May 10) Concerns that the new government in Hungary will jeopardise the independence of the National Bank appear to be coming to fruition. While much remains uncertain, it seems clear that PM Orban will now... 18th May 2010 · 1 min read
Europe Commercial Property Update Has the outlook for Hungarian commercial property improved? While recent news on the Hungarian economy has been surprisingly positive, we are not yet convinced that a sustainable economic recovery is underway. Among other things, Hungary’s fragile banking... 18th May 2010 · 1 min read
Emerging Europe Chart Pack Contagion risks from Greece high and rising (Apr 10) Concerns over the deepening crisis in Greece have weighed on financial markets across the region over the past couple of weeks. While no country has escaped, the contagion risks appear greatest in... 30th April 2010 · 1 min read
Emerging Europe Economics Update Interest rates cut again as Fidesz secures two-thirds majority The markets’ favourable reaction to Fidesz’s landslide election victory in Hungary will have been a key factor behind today’s decision by the National Bank (NBH) to cut interest rates by 25bps to 5.25... 26th April 2010 · 1 min read
Emerging Europe Economics Update Changes at the top do not change outlook for policy (Apr 10) Both Poland and the Czech Republic are set to announce new Central Bank governors over the coming months. But we suspect this will do little to alter the policy bias in either country. Poland will be... 15th April 2010 · 1 min read
Emerging Europe Economics Update Fidesz romps to victory, but will inherit fiscal frailties The markets have welcomed Fidesz’s landslide victory in yesterday’s election in Hungary. But with a distinct lack of policy detail from the party so far, we remain only cautiously optimistic that its... 12th April 2010 · 1 min read
Emerging Europe Economics Focus Spring elections to spotlight fiscal frailties Forthcoming elections in Hungary and the Czech Republic are likely to spotlight fiscal frailties in both countries. As ever, the risks remain greatest in Hungary. But the likelihood of a weak... 31st March 2010 · 1 min read
Emerging Europe Economics Update Hungary & Romania still playing catch-up The fact that policymakers in both Hungary and Romania are still cutting interest rates when their counterparts elsewhere in the world have begun to withdraw stimulus measures reflects the depth of... 29th March 2010 · 1 min read
Emerging Europe Chart Pack Too soon to dismiss fiscal risks (Mar 10) Financial markets in Emerging Europe have, for the most part, brushed off sovereign debt concerns in the euro-zone’s periphery. While bond markets sold off earlier this year as the crisis in Greece... 29th March 2010 · 1 min read
Emerging Europe Economics Update Hungarian consumer sector to remain under pressure Despite the recent improvement in Hungarian retail sales and wage data, domestic demand will continue to weigh on growth in the near-term. All told, we expect the economy to contract once again this... 23rd March 2010 · 1 min read
Emerging Europe Economics Update Rates hikes still not imminent (Mar 10) Market rate expectations have edged down in recent weeks, but we still think that the pace of tightening currently priced in for most countries in the region is too aggressive. While inflation has... 19th March 2010 · 1 min read
Emerging Europe Chart Pack Q4 GDP data a mixed bag (Feb 10) Q4 GDP data, released over the past month, have painted rather a mixed picture. The good news is that a number of countries, notably Russia and Poland, appear to have grown on a quarterly basis. But... 25th February 2010 · 1 min read
