Markets more hawkish on Hungary, Turkish lira strengthens

September’s strong Hungarian inflation data – released on Tuesday – caused investors to raise their interest rate expectations, coming round to our more hawkish view. Meanwhile, a fall in inflation last month didn’t prevent policymakers at the Czech National Bank (CNB) from hinting that another rate hike lies in store at next month’s MPC meeting. And the Turkish lira has rallied on the back of hopes that US Pastor Andrew Brunson will be released.

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