Emerging Europe Economics Update What does 2011 hold for Russia? With oil prices nearing $100pb, the near-term prospects for the Russian economy are looking up and the immediate challenge for 2011 will be to prevent inflation accelerating. Nonetheless, higher... 10th January 2011 · 1 min read
Emerging Europe Chart Pack A two speed 2011 2010 has been a year of recovery for Emerging Europe. This process should continue in 2011 but there are at least three important points for investors to bear in mind. First, growth is unlikely to... 21st December 2010 · 1 min read
Emerging Europe Economics Update What would WTO accession mean for Russia? Russia’s accession to the WTO is back in the news and, not for the first time in the past decade, it seems that membership talks might now be concluded at some point within the next twelve months. We... 13th December 2010 · 1 min read
Europe Commercial Property Update Does the ruble pose a threat to the Russian retail rental recovery? Retail rental values in Emerging Europe are sensitive to currency fluctuations. Indeed, the weakness of the Romanian leu may help to explain why retail rents in Bucharest have been so weak this year... 9th December 2010 · 1 min read
Emerging Europe Economics Update How should Russia tackle its nascent inflation problem? The pick-up in Russian inflation over the past couple of months has been driven primarily by a surge in food prices, which should be temporary in nature. Instead, the bigger risk to the inflation... 9th December 2010 · 1 min read
Emerging Europe Economic Outlook Recovery continues but divergences set to widen in 2011 Emerging markets as a whole are likely to outperform the developed world by a wide margin over the next couple of years but Emerging Europe is still facing a twin speed recovery. While some economies... 8th December 2010 · 1 min read
Emerging Europe Chart Pack Q3 GDP data reaffirm twin speed recovery (Nov 10) Emerging markets as a whole are likely to outperform the developed world by a wide margin over the next couple of years, but Emerging Europe is still facing a twin speed recovery. This was borne out... 30th November 2010 · 1 min read
Emerging Europe Economics Update Disappointing start to Q4 for the Russian economy While there are tentative signs that the agricultural sector is recovering from this summer’s drought, the raft of October activity data released this afternoon suggest that the Russian economy made a... 18th November 2010 · 1 min read
Emerging Europe Economics Update Russia Q3 GDP dragged down by droughts The sharp drop in Russian GDP growth in Q3 stands in stark contrast to the generally strong batch of data released elsewhere in the region earlier this morning and marks Russia out from the rest of... 12th November 2010 · 1 min read
Emerging Europe Economics Update Industry makes a good start to Q4 Manufacturing PMIs strengthened across most of the region in October and continue to point to industrial production growth of between 10-15% y/y over the coming months. But manufacturers in the region... 2nd November 2010 · 1 min read
Emerging Europe Chart Pack 'Currency wars' bypass Emerging Europe (Oct 10) Concerns that a rapid influx of capital into emerging markets may sow the seeds of the next bubble do not really apply in Eastern Europe. This is because, so far, at least, capital inflows to the... 29th October 2010 · 1 min read
Emerging Europe Economics Focus Russia unlikely to remain a 'super saver' for very long We expect the current account surpluses of most of the world’s ‘super savers’ to fall only gradually over the next few years. Russia, however, is the exception. If oil prices drop back to $60pb over... 27th October 2010 · 1 min read
Emerging Europe Economics Update Russia to get a near-term boost from higher oil prices In light of the recent upward revision to our near-term profile for oil prices, we have pushed up our Russian growth and inflation forecasts for 2011. But the economy remains vulnerable to the fall in... 21st October 2010 · 1 min read
Emerging Europe Economics Update Russia: crunch time approaching for the CBR Russian banks have become more willing to lend in recent months. Much still depends on oil prices, but a strengthening banking sector raises the chances that the rapid expansion of the monetary base... 11th October 2010 · 1 min read
Europe Commercial Property Focus How much further will Russian property yields fall? Compared to US Government bonds and Russian equities, as well as property markets in other countries, Russian property still appears to be attractively priced. As such, investment demand looks set to... 1st October 2010 · 1 min read
Emerging Europe Chart Pack Still in no mood to tighten Growth in some economies in Emerging Europe, not least Turkey, is starting to look impressive. But underlying inflation pressures remain relatively benign, and concerns over the durability of the... 30th September 2010 · 1 min read
