Emerging Europe Rapid Response Russia Interest Rate Announcement (Sep.) The Central Bank of Russia opted for a smaller-than-expected 100bp cut in its policy rate today, to 17.00%, and the communications highlight policymakers’ concerns about pro-inflationary risks. Even... 12th September 2025 · 2 mins read
Emerging Europe Rapid Response Turkey Interest Rate Announcement (Sep.) The decision by Turkey’s central bank to slow the pace of easing to 250bp didn’t come as a major surprise but the fairly hawkish communications support our view that real interest rates are likely to... 11th September 2025 · 2 mins read
Emerging Europe Rapid Response Poland Interest Rate Announcement (Sep.) The National Bank of Poland cut its policy rate by 25bp again today, to 4.75%, but we think that monetary easing over the coming year will be smaller than most anticipate. 3rd September 2025 · 2 mins read
Emerging Europe Rapid Response Turkey Consumer Prices (Aug. 2025) The continued decline in Turkish inflation last month, to 33.0% y/y, keeps the door open to large interest rate cuts at the central bank’s meeting next Thursday. That said, with inflation coming in a... 3rd September 2025 · 2 mins read
Emerging Europe Rapid Response Emerging Europe Manufacturing PMIs (Aug.) The manufacturing PMIs out of Emerging Europe remained at weak levels in August suggesting that industry continues to be a drag on the region’s growth. That said, other survey data suggest that... 1st September 2025 · 2 mins read
Emerging Europe Rapid Response Turkey GDP (Q2 2025) The much-stronger-than expected Q2 Turkish GDP growth figure of 1.6% q/q (driven by domestic demand) is likely to make the central bank tread cautiously and suggests that the risks to our hawkish... 1st September 2025 · 2 mins read
Emerging Europe Rapid Response CEE Economic Sentiment Indicators (Aug.) The European Commission’s Economic Sentiment Indicators for Central and Eastern Europe (CEE) generally rose in August despite the higher 15% US tariff on the EU coming into force, and point to an... 28th August 2025 · 1 min read
Emerging Europe Rapid Response Hungary Interest Rate Announcement (Aug.) The Hungarian central bank left its base rate on hold again today at 6.50%, and we think that the scope for monetary easing ahead of parliamentary elections in April 2026 will be limited. While the... 26th August 2025 · 2 mins read
Emerging Europe Rapid Response Israel Interest Rate Announcement (Aug.) 20th August 2025 · 2 mins read
Emerging Europe Rapid Response Russia GDP (Q2 2025) The slowdown in GDP growth in Russia to 1.1% y/y in Q2 suggests that the economy may have narrowly avoided a technical recession, but the economy is clearly struggling amidst imbalances that have... 13th August 2025 · 2 mins read
Emerging Europe Rapid Response Romania Interest Rate Announcement (Aug.) The National Bank of Romania (NBR) left its policy rate on hold today, at 6.50%, as expected, and its communications suggest a restart of the easing cycle remains some way off. We expect rates to... 8th August 2025 · 2 mins read
Emerging Europe Rapid Response Turkey Consumer Prices (July) The larger-than-expected fall in Turkish inflation in July, to 33.5% y/y, will encourage the central bank to continue its easing cycle next month. 4th August 2025 · 1 min read
Emerging Europe Rapid Response Emerging Europe Manufacturing PMIs (July) The weak July manufacturing PMIs out of Emerging Europe suggest that industry remains a drag on regional growth, and we expect that incoming tariffs will keep external demand conditions subdued over... 1st August 2025 · 2 mins read
Emerging Europe Rapid Response CEE Economic Sentiment Indicators (July) The EC’s Economic Sentiment Indicators for Central and Eastern Europe suggest that regional GDP growth maintained a moderate pace, at 2.0-2.5% y/y, at the start of Q3. The prices components of the... 30th July 2025 · 2 mins read
