Emerging Markets | Europe | Fiscal Policy | Monetary Policy & Inflation
Central Europe has acted swiftly against the coronavirus spread. Czech Republic, Hungary, Poland, and Romania have all closed their borders to non-residents, and domestic movements are severely restricted also. All four central banks have loosened policy, with Poland and Romania also announcing a move to QE. The National Bank of Hungary is the only one not to cut rates but announced other liquidity measures. On the fiscal side, support is modest compared with some of the major economies, but we expect more could well be announced.
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