Polish inflation dropped to 3.1% in October from 3.4% y/y in September

EMEA Daily

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Review

On Friday we received Q3 GDP numbers from the Czech Republic, Hungary, Romania and Bulgaria. Overall the numbers confirm that a recovery is underway in the CEE economies, but it is quite weak and likely to be fragile as well.
Polish inflation dropped to 3.1% in October from 3.4% y/y in September, in line with our expectation, but slightly below the consensus expectation of 3.2% y/y. We expect average Polish inflation of 3.4% y/y for 2009 and 1.9% in 2010.
On Friday we published New Europe Weekly and Emerging Markets Briefer.

Preview

Not much on the schedule today in the EMEA region other than Czech PPI numbers and Turkish unemployment.

Trading update

The EMEA markets continue to be relatively calm and seem to have adopted a bit of a wait-and-see stance. On Friday most EMEA currencies strengthened a little. Our EMEA FX Scorecard is still sending positive signals on all the EMEA currencies. The highest scoring currency is still the Polish zloty.

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Published On Mon, Nov 16 2009, 06:43 GMT

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