Fitch upgrades Turkey’s Ziraat, Vakifbank and TSKB to three notches below investment grade

Says authorities have improved ability to support banking sector in FX in line with sovereign's better reserves position.

European Commission cuts Romania’s growth outlook in half as fiscal tightening weighs on economy

Downward revision reflects Romania’s fiscal slippage in 2024-25 and the subsequent shift to a more contractionary fiscal stance.

S&P upgrades South Africa as Fitch affirms rating and debt peak forecast rises to 77.9%

Korean export slowdown to weigh on economic recovery

South Korea’s economic rebound is set to be held back by faltering overseas demand, according to new analysis by Fitch Ratings, which warns that weaker exports will act as a brake on growth prospects.

Philippine growth slows sharply, but economists anticipate domestic demand to bounce back

The Philippine economy lost momentum in the third quarter, recording a markedly weaker performance than analysts had anticipated.

Romania’s central bank holds base rate at 6.5%, signals deepening demand gap

BNR expects the annual inflation rate to decline modestly over the next three quarters but remain on a fluctuating path above previous forecasts.

Yen-pegged stablecoin issuer anticipates major holdings in Japan’s government-bond market

JPYC emphasises that its stablecoin is fully convertible to the yen and backed by domestic savings deposits and Japanese government bonds.

Moldova’s inflation edges up to 7.0% y/y in October on higher food and utility prices

Core inflation also picked up in October, indicating broader price pressures beyond seasonal fluctuations.

Slovak industry returns to mild growth of 0.7% y/y in September

September development came as a surprise to local market analysts, but no substantial revival is expected.

Turkey hikes end-2025 official inflation forecast range to 31-33%

Current policy set is to provide finance industry with high real returns without any supportive fiscal and structural measures. Officials will stick with it.

Moldova keeps key rate at 6% and cuts reserve requirements to encourage lending

Decision follows a series of rate hikes earlier this year, before the BNM cut the rate in August-September as inflation subdued.

Romania’s retail sales fall 2.3% q/q in Q3 as austerity hits household spending

With inflation eroding purchasing power and private sector jobs under threat from slower economic activity, consumer confidence has weakened.

Poland’s population could shrink by 9mn to to 28.4mn by 2060, simulation shows

Poland’s population is projected to fall to 28.4mn by 2060 if the current record-low fertility rate of 1.10 persists, according to an experimental population simulation by Poland’s statistical office GUS.

Kazakhstan’s services sector enters negative zone for first time in 10 months, October PMI shows

Business confidence remains historically subdued.

Romania’s manufacturing PMI drops to 47.6 in October as output and orders weaken

Decline driven by falling output and weaker new orders erases gains made over the past six months.

Russia automotive output slumps to levels of first months of Ukraine war as demand slumps

Russia’s automotive industry — once a symbol of the country’s industrial ambitions — has entered another sharp downturn, reversing the fragile recovery seen in 2023 and early 2024.

Emerging Asia overtakes the UK per-capita benchmark

For the first time since the Industrial Revolution, the major emerging economies including China, India and Indonesia have seen GDP as a percentage of the UK’s GDP increase as the leading BRICS countries start to overtake the Developed Markets.

October PMI shows Kazakhstan’s manufacturing declined for fifth consecutive month

Renewed fall in new orders. Some firms point to difficulties receiving goods via stringent Russian customs checks.

October PMI shows little light at end of tunnel for Turkish manufacturing

Currency weakness and subdued demand plague producers in 19th consecutive month of contraction.

Uzbekistan’s annual inflation edges down to 7.8% in October

Lowest reading posted since 2017. Central bank's year-end forecast is 8%.