Emerging Europe Economics Update Dovish MNB keeps the door wide open for further cuts The communications that followed the Hungarian central bank’s (MNB’s) decision to cut the base rate earlier today support our view that there’s a clear path for further easing in the coming months. We... 23rd June 2026 · 3 mins read
Emerging Europe Rapid Response Hungary Interest Rate Announcement (June 2026) 23rd June 2026 · 2 mins read
Emerging Europe Economics Weekly Russia’s fuel squeeze raises the cost of war Ukraine’s drone campaign against Russian energy infrastructure is becoming a more sustained macroeconomic problem for Moscow. The disruption to refineries is squeezing fuel supply, adding to... 19th June 2026 · 5 mins read
Emerging Europe Economic Outlook Regional easing cycle has further to run Emerging Europe has come through the energy shock with only a minor loss of momentum and (generally) contained inflation. We think the region will be one of the few globally where monetary easing... 19th June 2026 · 24 mins read
Emerging Europe Economics Update A few more Czech rate hikes in the pipeline The communications following the Czech National Bank’s (CNB’s) decision to hike the policy rate today didn’t commit the MPC to further tightening. But with growth likely to exceed consensus... 18th June 2026 · 3 mins read
Emerging Europe Rapid Response Czechia Interest Rate Announcement (June 2026) The decision by the Czech National Bank (CNB) to hike its policy rate by 25bp to 3.75% marks the start of what is likely to be a modest tightening cycle, with perhaps just one or two more 25bp moves... 18th June 2026 · 1 min read
Emerging Europe Economics Weekly Door now wide open for rate cuts in Hungary Hungary’s central bank had already been inching towards reducing interest rates and the big downside surprise in the May inflation figures has prompted us to pencil in a larger 50bp cut (to 5.75%) at... 12th June 2026 · 5 mins read
Emerging Europe Rapid Response Turkey Interest Rate Announcement (Jun. 2026) The decision by the Turkish central bank (CBRT) to leave its key policy rates unchanged today (rather than hike) confirms that it would take much more severe strains in the balance of payments than... 11th June 2026 · 2 mins read
Europe Commercial Property Focus European student housing outperformance has further to run The two-decade period of student accommodation outperformance in Europe is set to continue, supported by higher income returns, favourable structural demand drivers and still-tight supply. Within... 9th June 2026 · 11 mins read
Emerging Europe Economics Weekly Russian geopolitics, crunch time in Turkey Armenia’s election on Sunday could mark a further step in the country’s shift away from Russia and towards the West, adding tensions at a time when Russia’s geopolitical leverage has weakened... 5th June 2026 · 6 mins read
Europe Commercial Property Chart Pack Europe Commercial Property Chart Pack (Q2 2026) Prime office values continued to grow strongly in Q1, in contrast to a further slowdown in the retail and industrial sectors. These two sectors are also more vulnerable to the impacts of the Iran war... 3rd June 2026 · 0 mins read
Emerging Europe Economics Update Hungary: the next hurdles for unlocking EU funds The European Commission’s agreement in principle to unlock €16.4bn of frozen EU funds marks a major step forward for Hungary and would significantly improve the economic outlook. But disbursement is... 2nd June 2026 · 3 mins read
Emerging Europe Rapid Response Poland Interest Rate Announcement (June 2026) Despite hawkish noises from the MPC, the recent softness in the inflation data mean that the central bank will likely hold off from hiking interest rates in the coming months. 2nd June 2026 · 1 min read
Emerging Markets Economics Update EM industry holding up, price pressures remain strong The EM manufacturing PMI for May suggests that industrial activity remains relatively robust amid the ongoing energy price shock, particularly in Asia where the impact has been offset by booming... 1st June 2026 · 2 mins read
Emerging Europe Rapid Response Turkey GDP (Q1 2026) The slowdown in Turkish GDP growth in Q1, to 2.5% y/y, shows that the economy was struggling going into the energy shock. At the margin, this outturn may make the central bank less likely to hike... 1st June 2026 · 2 mins read
Emerging Europe Economics Weekly Dovish pivots, Turkey’s strains While most central banks are weighing whether to hike or hold, currency appreciation allowed the Bank of Israel to cut interest rates this week and the National Bank of Hungary to open the door to... 29th May 2026 · 6 mins read
