Turkey’s economy had a strong Q2 and growth is set to be even quicker in Q3. But that’s likely to mark the peak in the cycle and we think the economy will slow more abruptly than most expect in 2018. Elsewhere, Czech inflation data for August suggest that the recent rise in core inflation has levelled off. On balance, it’s looking more likely that the MPC will keep rates on hold (rather than hike) at October’s meeting.
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