Turkey's central bank delivered another large 500bp interest rate hike this week but it also signalled that its tightening cycle was very close to an end. While the local elections in March may be playing a part in this decision, we're not convinced that these are likely to have a particularly big impact on the policy shift. Elsewhere, the strong retail sales figures released for Poland for October highlight the country's outperformance with the rest of Central Europe and suggest that the recovery in real wages is now feeding through into stronger consumption. We expect this to continue and drive the regional recovery in 2024.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to gain:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services