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Key events in EMEA and Latam next week
The key data in Hungary next week will be the August inflation reading. After causing a significant upside surprise in July, inflation is more than likely to stabilise. On a monthly basis, we expect inflation to remain unchanged. Given that, one-off factors were behind the acceleration last month, this time we should see the underlying processes stabilising inflation. This means a 3.9% year-on-year CPI reading with 4.4% YoY core inflation. In the months ahead, we expect significant deceleration, which should provide monetary policy a break. However, the fiscal story continues to deteriorate but the August deficit ... (full story)