Europe Commercial Property Update Emerging European office rental value growth prospects mixed Over the next few years, office markets in Warsaw, Moscow and Istanbul look set to continue outperforming other Emerging European capitals. Indeed, brighter GDP and employment growth prospects suggest... 3rd February 2011 · 1 min read
Emerging Europe Economics Update PMIs hit record highs With manufacturing PMI surveys across most of Emerging Europe on the up, and now at record highs in Turkey and the Czech Republic, the near-term outlook for industry remains strong. Meanwhile, the... 1st February 2011 · 1 min read
Emerging Europe Chart Pack Inflation concerns should fade in second half of 2011 Inflation is rapidly moving up the list of concerns for policymakers in Emerging Europe. It is now running above target in most of the region’s major economies, including Poland, Hungary, Romania and... 31st January 2011 · 1 min read
Emerging Europe Economics Update Russia steps up fight against inflation Today’s decision by the Central Bank of Russia (CBR) to raise bank reserve requirements is further evidence that inflation worries are starting to trump growth concerns. 31st January 2011 · 1 min read
Non-Euro Europe Commercial Property Outlook Slower capital value growth in store for 2011 In non-euro-zone Europe, we envisage a divergence between the performance of commercial property markets in emerging and developed economies. Reflecting the relatively strong outlook for economic... 28th January 2011 · 1 min read
Emerging Europe Economics Update Poland stays ahead of the pack but twin deficit worries persist Today’s estimate that the Polish economy expanded by 3.8% in 2010 was in line with our forecast and reinforces the view that the country is leading the recovery in Emerging Europe. GDP should grow by... 28th January 2011 · 1 min read
Emerging Europe Economics Update Russian recovery still fails to impress Today’s raft of December activity data from Russia is, on balance, pretty disappointing and suggests that the economy is only recovering slowly from last summer’s drought. Growth should accelerate in... 28th January 2011 · 1 min read
Emerging Europe Economics Update Is Turkish monetary policy really a recipe for disaster? The Central Bank of Turkey’s policy of cutting interest rates to deter speculative capital inflows despite the economy’s comparatively good growth prospects is not necessarily the recipe for disaster... 24th January 2011 · 1 min read
Emerging Europe Economics Update Hungary hikes again, but all eyes back on fiscal policy The National Bank of Hungary (NBH) this afternoon voted to hike interest rates by 25bps for the third consecutive month (to 6.00%). The outlook remains highly uncertain, but on balance today’s move... 24th January 2011 · 1 min read
Emerging Europe Economics Update Picking apart the mixed messages on rates The past month has produced conflicting signals about the future path of monetary policy in the region. While policymakers in Hungary and Poland have begun the year by hiking interest rates, their... 21st January 2011 · 1 min read
Emerging Europe Economics Update Turkey still focussed on cutting the carry Despite today’s decision by the Central Bank of Turkey (CBRT) to cut interest rates, increases in bank reserve requirements that are likely to be announced over the next couple of days mean that... 20th January 2011 · 1 min read
Emerging Europe Economics Update Polish rate hike unlikely to trigger sustained tightening cycle With underlying inflation pressures still relatively subdued over the key 12-18 month policy horizon, today’s hike in Polish interest rates is unlikely to be the start of a particularly aggressive... 19th January 2011 · 1 min read
Emerging Europe Economics Update Banking recovery continues despite familiar risks The good news is that the region’s banking sector is starting to find its feet. The bad news is that familiar vulnerabilities remain in those countries that were hit hardest during the global crisis... 18th January 2011 · 1 min read
Emerging Europe Economics Update How far will interest rates rise in Poland? After remaining on hold for the past 18 months, it seems all but certain that Polish interest rates will be hiked later this month. But we doubt that this will mark the start of an aggressive... 14th January 2011 · 1 min read
Emerging Europe Economics Update What would EMU break up mean for Emerging Europe? With Portugal seemingly on the cusp of an IMF/EU bailout, we suspect that the euro-zone debt crisis is about to enter a new, more dangerous, phase that ultimately ends in some form of break-up of the... 12th January 2011 · 1 min read
Europe Commercial Property Update Property yields in Warsaw to remain lower than in Prague The relative strength of the Polish economy compared to the Czech Republic during the global economic downturn has helped to push commercial property yields in Warsaw below those in Prague. Given our... 12th January 2011 · 1 min read
