Europe Commercial Property Update Hungarian and Romanian commercial property markets to lag behind The latest RICS global survey presents a more optimistic outlook for capital value growth in Hungary and Romania than our current forecasts imply. But we think that surveyors may be overstating the... 21st February 2011 · 1 min read
Emerging Europe Economics Update Russian economy makes dire start to 2011 January’s activity data from Russia suggest that the economy made a dire start to 2011. Of course, it is unwise to read too much into one month’s data. What’s more, with oil prices currently over... 18th February 2011 · 1 min read
Emerging Europe Economics Update Turkey shifts to 'wait and see' mode The Central Bank of Turkey kept interest rates on hold at 6.25% earlier this month and is now in ‘wait and see’ mode to evaluate the impact of its unconventional experiment with monetary policy... 17th February 2011 · 1 min read
Emerging Europe Economics Update Turkish policymakers in 'wait and see' mode Today’s decision to keep interest rates unchanged at 6.25% suggests that the Central Bank of Turkey (CBRT) has reached the end of its rate-cutting cycle. While policymakers’ unconventional policy... 15th February 2011 · 1 min read
Emerging Europe Economics Update Is the Baltic bounce built to last? Today’s strong GDP data from Estonia mean that the economy grew by 3.1% in 2010 as a whole – slightly outpacing even our above-consensus forecast of 3%. But while growth should remain pretty... 11th February 2011 · 1 min read
Emerging Europe Economics Update Oil prices don't explain the rise in Turkey's external deficit Turkey reported another large shortfall on its current account in December, which pushed the deficit for last year as a whole to 6.4% of GDP. Rising oil prices partly explain the increase in the... 11th February 2011 · 1 min read
Emerging Europe Economics Update How quickly is Russia moving towards a free float? The pace at which Russian monetary policy is shifting from a regime centred on targeting the exchange rate to a regime based on targeting inflation remains unclear, but our calculations of FX... 9th February 2011 · 1 min read
Emerging Europe Economics Update What to look for from Hungary's spending cuts The Hungarian government is due to begin debating a “structural revamp” of the public finances in the coming weeks, which will entail substantial budget cuts. A first reading of the Growth and... 7th February 2011 · 1 min read
Emerging Europe Economics Update Czech policymakers turn hawkish The hawkish comments that accompanied today’s decision to leave Czech interest rates unchanged have pushed the koruna above 24/euro for the first time since October 2008. But while the chances of an... 3rd February 2011 · 1 min read
Europe Commercial Property Update Emerging European office rental value growth prospects mixed Over the next few years, office markets in Warsaw, Moscow and Istanbul look set to continue outperforming other Emerging European capitals. Indeed, brighter GDP and employment growth prospects suggest... 3rd February 2011 · 1 min read
Emerging Europe Economics Update PMIs hit record highs With manufacturing PMI surveys across most of Emerging Europe on the up, and now at record highs in Turkey and the Czech Republic, the near-term outlook for industry remains strong. Meanwhile, the... 1st February 2011 · 1 min read
Emerging Europe Chart Pack Inflation concerns should fade in second half of 2011 Inflation is rapidly moving up the list of concerns for policymakers in Emerging Europe. It is now running above target in most of the region’s major economies, including Poland, Hungary, Romania and... 31st January 2011 · 1 min read
Emerging Europe Economics Update Russia steps up fight against inflation Today’s decision by the Central Bank of Russia (CBR) to raise bank reserve requirements is further evidence that inflation worries are starting to trump growth concerns. 31st January 2011 · 1 min read
Non-Euro Europe Commercial Property Outlook Slower capital value growth in store for 2011 In non-euro-zone Europe, we envisage a divergence between the performance of commercial property markets in emerging and developed economies. Reflecting the relatively strong outlook for economic... 28th January 2011 · 1 min read
Emerging Europe Economics Update Poland stays ahead of the pack but twin deficit worries persist Today’s estimate that the Polish economy expanded by 3.8% in 2010 was in line with our forecast and reinforces the view that the country is leading the recovery in Emerging Europe. GDP should grow by... 28th January 2011 · 1 min read
Emerging Europe Economics Update Russian recovery still fails to impress Today’s raft of December activity data from Russia is, on balance, pretty disappointing and suggests that the economy is only recovering slowly from last summer’s drought. Growth should accelerate in... 28th January 2011 · 1 min read
