Our Emerging Europe Chart Pack has been updated with the latest data and our analysis of recent developments.
The latest data suggest that GDP growth in Central and Eastern Europe remained resilient in Q3, but Russia’s economy appears to have slowed further. We expect this divergence to continue over the coming year as CEE economies benefit from a moderate pick up in Germany as fiscal stimulus arrives there, while Russia’s economy continues to struggle. Inflation will fall in most countries by the end of next year, but tight labour markets and strong wage growth will remain a concern for central banks. Our interest rate forecasts generally lie on the hawkish side of consensus expectations.
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