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Slowest regional growth since 2015

Regional GDP growth is set to slow to its weakest pace since 2015 this year and our forecasts for most countries are below consensus. Weakness in the euro-zone will weigh on the highly-open economies of Central Europe, while growth in Russia is likely to lose steam. The worst for the Turkish economy appears to have passed, but the recovery will be slow-going. Central banks in Russia and Turkey are likely to cut interest rates this year, and Czech policymakers will follow suit in 2020.

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