High inflation continued amid a visible path to economic recovery.
Price growth driven by annual food inflation, which stood at 11.4%.
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.
Arguments in favour of a rate hike have accumulated.
Investment bank Renaissance Capital says central banks in the region have been more hawkish than expected, following a series of rate hikes.
Against first half of 2020, exports, at $1.38bn, rose by 27.8% y/y and, more importantly when it comes to the long-term trend, grew 24.2% compared to 1H 2019.
Trend, however, suggests economic recovery may be taking hold.
Georgia's foreign trade turnover recovered to pre-coronavirus crisis levels in Jan-Jun this year. The trade deficit was slightly smaller, yet amounted to 15% of full-year GDP.
Analysts predict bank could intervene in second half to bring inflation closer to its 4-6% target corridor.
Georgia’s consumer price inflation came in at 9.9% year on year in June, a major 2.2pp rise from 7.7% y/y in the previous month, according to Geostat.
EBRD says recovery from the coronacrisis is progressing faster than expected, but many emerging Europe economies won’t return to 2019 levels of GDP until 2022.