Emerging Europe Economics Update Manufacturing PMIs point to a soft start to Q3 July’s manufacturing PMIs from Emerging Europe were, in aggregate, a little better than June’s figures. But they were still weaker than their average over the first half of the year. What’s more, much... 1st August 2014 · 1 min read
Emerging Europe Economics Focus Making sense of Hungary’s new policy rate The National Bank of Hungary is due to introduce a new benchmark monetary policy instrument tomorrow. While this is unlikely to have any impact on domestic monetary conditions, policymakers have... 31st July 2014 · 1 min read
Emerging Markets Activity Monitor China rebound leaves other BRICs lagging behind Our GDP Tracker suggests that EM growth has accelerated a touch in recent months. Much of the pick-up has been due to a turnaround in Asia, including China. But while the outlook for China seems to... 31st July 2014 · 1 min read
Emerging Europe Economics Update How and where the latest sanctions will hit the Russian economy The latest package of sanctions adopted by the EU and the US against Russia will affect the economy in different ways. In the short-term, restrictions on access to western capital markets for selected... 31st July 2014 · 1 min read
Emerging Europe Economics Update Czech National Bank extends FX intervention pledge The Czech MPC struck an even more dovish note at today’s post-meeting press conference. Policymakersextended their pledge to intervene in the FX market to prevent the koruna from appreciating beyond... 31st July 2014 · 1 min read
Europe Economics Update Sanctions on Russia a further blow to Finnish economy Finland’s close economic ties with neighbouring Russia mean that the EU’s stiffer sanctions on Russia announced yesterday are likely to deal another blow to the Finnish economy. Even if the direct... 30th July 2014 · 1 min read
Emerging Europe Chart Pack Interest rates heading in opposite directions The Russian central bank caused a surprise earlier this month by hiking its one-week repo rate in a pre-emptive move to limit capital outflows ahead of a fresh sanctions imposed by the US and EU. This... 30th July 2014 · 1 min read
EM Valuations Monitor Are EM credit spreads about to surge? The yields of dollar-denominated emerging market government bonds have been broadly flat over the past month after having declined by over one percentage point between the end of January and the end... 29th July 2014 · 1 min read
Emerging Markets Economics Update EM demographic challenge not the disaster that many expect The contribution that favourable demographics have made to emerging market growth over the past couple of decades is often overplayed. In reality, the growth of working age populations has played only... 29th July 2014 · 1 min read
Europe Economics Update Sanctions on Russia pose limited threat to Germany The likelihood that the EU will impose stiffer sanctions on Russia has raised concerns about the effecton German exports and the wider economy. But while certain companies rely strongly on trade... 28th July 2014 · 1 min read
Emerging Europe Economics Update Markets shrug off latest standoff with Russia The renewed violence in eastern Ukraine, the imposition of fresh sanctions by the US and the threat of further moves by the EU have weighed on Russian equities. But the recent falls haven’t been as... 28th July 2014 · 1 min read
Emerging Europe Economics Update Surprise Russia rate hike a response to geopolitics not inflation Russia’s central bank justified its surprise decision to hike interest rates this morning on stubbornly high inflation, but it’s pretty clear that this is a pre-emptive move to limit capital outflows... 25th July 2014 · 1 min read
Emerging Europe Economics Update How big a threat are financial sanctions for Russia? The possibility that the EU might follow in the steps of the US and restrict access to capital markets for some Russian firms, coupled with Moscow’s decision this week to cancel another government... 24th July 2014 · 1 min read
Emerging Europe Economics Update Fall in agricultural prices to help keep EM inflation muted Inflation across the EM world remains relatively low in aggregate terms, even if it is still worryingly high in a handful of countries. Looking ahead, with global food prices falling, and underlying... 24th July 2014 · 1 min read
Global Markets Update Demand for EM equities grows despite Ukraine crisis The crisis in Ukraine is continuing to have very little effect on the financial markets in most other emerging countries, with the notable exception of Russia. In the past month or so, the MSCI... 24th July 2014 · 1 min read
Europe Commercial Property Update Rental growth in Warsaw and Krakow set to boost retail capital values Poland’s strengthening labour market and rising consumer confidence bode well for retail occupier demand in Krakow and Warsaw. And, with little new supply in the pipeline, the prospects for rental... 24th July 2014 · 1 min read
