Central banks downplay expectations for more dovish policy

  The more hawkish-than-expected communications from central banks across the region this week suggest that markets should not get carried away with expectations for more accommodative monetary policy. The Turkish central bank governor noted that the easing cycle is likely to slow down following aggressive interest rate cuts over the past few months. And in Hungary and the Czech Republic, above-target inflation is preventing central banks from loosening policy despite mounting external headwinds.