Growth expected to slow if government reimposes COVID-19 restrictions in the autumn.
Prior to rates meeting president Erdogan was pushing for summer easing.
Kazakh retail sales jumped by 7.2% y/y in January-July, reaching a value of Kazakhstani tenge (KZT) 6,482.8bn ($15.28bn), according to latest data published by Kazakhstan's State Statistics Committee.
Czech consumer prices increased by 3.4% year-on-year in July, the highest figure since July last year, driven by higher prices in transport (by 18.5%) up by 0.6 percentage points (pp) month-on-month.
Consumer price inflation in Romania reached 4.95% in July, rising sharply from 3.8%-3.9% in May-June.
The Watcom Shopping index overtook the 2020 level of activity in week 30 of this year as the retail business recovers on the back of the post-crisis economic growth and rising incomes.
Hungary’s consumer prices rose 4.6% y/y in July, slowing from the peak of 5.3% in the previous two months.
Ukraine’s gross international reserves increased by $0.59bn, or 2.1%, to $28.95bn in July
Czech industrial production increased by 11.4% year-on-year and by 1% month-on-month in June, according to the latest data from August 6 released by the Czech Statistics Office. The value of news orders went up annually by 22.8%.
The WIG was up 0.15% to 68,487.65 points on August 9, reaching a record high for the fourth session day in a row.
Ukraine’s inflation exceeded double digits for the first time since November 2018 rising to 10.2%, according to Ukrstat, as the central bank prepares for another interest rate hike in September.
The central bank expects consumer prices to increase further based on expected movements in import prices.
Slovenia’s trade surplus declined to €210.6mn in the first six months of 2021, from €829.1mn in the same period a year earlier.
All branches of manufacturing contributed to the increase, but growth slowed significantly in the vehicle segment, which has the largest weighting.
Romania’s retail sales index increased by 12.0% y/y in June.
Month-on-month, the unemployment rate fell 0.1pp.
Arguments in favour of a rate hike have accumulated.
The Russian Watcom shopping index that measures foot traffic in Moscow’s leading shopping malls is almost back to normal as the effects of last year’s lockdown work their way through the results.
Coronavirus cases are, however, again on the rise. Analysts fear growth plans could once more be hindered.
Russia’s manufacturing sector saw a deterioration of operating conditions in July 2021, seeing a fall in production and a steeper decline in new orders, and overall weak client demand, latest PMI report by IHS Markit shows.