Emerging Europe Data Response Czech GDP (Q4.) The fall in Czech GDP between Q3 and Q4 will take some of the gloss off Emerging Europe’s best performing economy last year. The underlying picture is still strong, but at the margin these data... 16th February 2016 · 1 min read
Emerging Europe Economics Update Czech MPC takes more dovish stance, extends koruna cap pledge The Czech MPC was even more dovish than we had expected at this afternoon’s post-meeting press conference as it not only extended its commitment to keeping the exchange rate ceiling in place to 2017... 4th February 2016 · 1 min read
Emerging Europe Data Response Czech CPI (Dec.) The weak Czech inflation figure for December, of just 0.1% y/y, reinforces our view that the National Bank will extend its commitment to keeping policy loose. We expect the MPC use the next few policy... 12th January 2016 · 1 min read
Emerging Europe Economics Update Czech MPC stays dovish, but doesn’t extend koruna cap pledge The Czech National Bank’s MPC once again struck a dovish note in the post-meeting statement and, although the Council didn’t extend its commitment to the koruna cap beyond next year (as we thought... 16th December 2015 · 1 min read
Emerging Europe Data Response Czech CPI (Nov.) The much weaker-than-expected rise in Czech consumer prices last month, of just 0.1% y/y, is unlikely to raise fresh concerns about deflation. But even so, it may tip the balance on the MPC in favour... 9th December 2015 · 1 min read
Emerging Europe Economic Outlook Russia to surface from recession, but recovery weak Having contracted in 2015, we expect the economy of Emerging Europe to return to growth in 2016. This will be driven in large part by an improvement in conditions in the region’s largest economy... 1st December 2015 · 1 min read
Emerging Europe Chart Pack Turning the corner The raft of preliminary GDP data published over the past month showed that the slump in regional growth bottomed out in the third quarter of this year. We estimate that, in aggregate, GDP in Emerging... 26th November 2015 · 1 min read
Emerging Europe Data Response Turkey Ind. Prod. (Sep.) & Czech CPI (Oct.) The slowdown in Turkish industry in September means that industrial production growth over Q3 as a whole was a little slower than in Q2. Elsewhere, the weaker-than-expected inflation data from the... 9th November 2015 · 1 min read
Emerging Europe Economics Update Political uncertainty causes Romanian MPC to sounds cautious The press conference following the Romanian MPC meeting earlier today confirmed our view that the resignation of the Prime Minister yesterday would prompt the Council to adopt a more cautious line... 5th November 2015 · 1 min read
Emerging Europe Data Response Czech CPI (Aug.) The fall in Czech inflation in August, to 0.3% y/y, was driven largely by steeper falls in food and energy prices and, as a result, shouldn’t raise too many concerns about the risk of deflation... 9th September 2015 · 1 min read
Emerging Europe Data Response Czech CPI (Jul.) The weaker-than-expected 0.5% y/y rise in Czech consumer prices last month may bethe first sign that the recent appreciation of the koruna is starting to drag downinflation. Even so, with the economy... 10th August 2015 · 1 min read
Emerging Europe Economics Update Czech MPC hints at policy staying loose for longer The Czech MPC kept its policy interest rate and exchange rate ceiling unchanged earlier today, but the Council dropped its strongest hint yet in the accompanying press release that extremely loose... 6th August 2015 · 1 min read
Emerging Europe Economics Update How will Czech policymakers respond to the rising koruna? The strength of the Czech koruna has raised concerns at the National Bank about a fresh slowdown in inflation and, in the first instance, we think the MPC will try to ease pressure on the currency by... 23rd July 2015 · 1 min read
Emerging Europe Data Response Czech CPI (Jun.) The small rise in Czech headline and core inflation in June provides early evidence that the recent labour market improvements and the strength of domestic demand are starting to feed through to... 9th July 2015 · 1 min read
Emerging Europe Data Response Czech & Hungary Industrial Production (May) The sharp slowdown in industrial production growth in both the Czech Republic and Hungary in May was distorted by working day effects. The underlying trend is one ofsteady growth in industry of around... 7th July 2015 · 1 min read
Emerging Europe Economics Update Czech MPC tones down dovish comments Having kept its policy interest rate and exchange rate ceiling unchanged earlier today, the Czech MPC struck a less dovish note at this afternoon’s press conference. For now, we remain of the view... 25th June 2015 · 1 min read
