TÜRKIYE
The TRY hits a new low, as the CBRT continues with its unorthodox policy
An adjustment in monetary policy is crucial to preserving macroeconomic and financial stability CBRT’s bond regulations distort the debt market
BULGARIA
Elections deliver another hung Parliament, failing to end political uncertainty
Following a strong start to the year, (GDP, up 4.5% y-o-y in H1:22), economic growth is set to slow down markedly in the period ahead, reflecting headwinds from record-high inflation
EGYPT
Despite the need to plug a sizeable external financing gap, the CBE kept its key policy rates on hold, bucking market expectations
Following a strong performance in FY:21/22, we see GDP growth moderating abruptly this year, reflecting headwinds from weakening EGP and rising inflation
APPENDIX:
DETAILED MACROECONOMIC DATAREGIONAL SNAPSHOT: MACROECONOMIC INDICATORS & FINANCIAL MARKETS