The Q3 GDP data released out of Central and Eastern Europe (CEE) this week has only added to worries about the health of the region’s economies, but with inflation still a concern – and in some cases currencies under pressure – central bank’s have little scope to ease monetary conditions at the moment. Meanwhile, one stand-out feature of the “Trump-trade” over the past couple of weeks is that the Turkish lira has actually been one of the best performing EM currencies, but we doubt lira stability will last for long.
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