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ING Bank’s research highlights a global macroeconomic environment defined by the tension between robust export growth and persistent energy-driven inflationary pressures across Europe and Asia. In Central and Eastern Europe, the bank emphasizes that economic resilience to energy shocks is increasingly dependent on policy capacity—specifically fiscal room and monetary flexibility—rather than simple energy import volumes. While the Czech Republic is positioned as a regional benchmark for stability, countries like Turkey and Hungary are navigating more difficult trade-offs as central banks adopt hawkish stances to combat resurfacing inflation risks. Parallel trends are observed in Asia, where a semiconductor and AI-driven export boom in South Korea is being weighed against imported energy costs that threaten inflation targets in Taiwan. Regarding monetary policy, ING notes a significant reprieve in Poland, where easing CPI to 3.1% is expected to keep the Monetary Policy Council on a wait-and-see path with stable interest rates through 2026. Collectively, the research suggests a strategic shift by governments toward targeted energy investments and cautious monetary management to maintain stability amidst structural global shifts.

80 reports available

Rates Spark: Sentiment Looking Through Geopolitical Risks thumbnail

Rates Spark: Sentiment Looking Through Geopolitical Risks

ING Bank N.V.·Jul 10, 2026

Risk assets remain optimistic despite geopolitical tensions and higher oil prices. Meanwhile, nominal rates continue to face upward pressure driven by inflation expectations.

FX Daily: Fading Geopolitical Risk, Focus on Rate Differentials thumbnail

FX Daily: Fading Geopolitical Risk, Focus on Rate Differentials

ING Bank N.V.·Jul 10, 2026

The dollar remains unchanged as markets disregard geopolitical risks in the Middle East, choosing to focus on interest rate differentials. Strategists remain cautious about these sanguine market expectations.

Hungary Second Quarter Economic Growth thumbnail

Hungary Second Quarter Economic Growth

ING Bank N.V.·Jul 6, 2026

Hungary's Q2 GDP growth is bolstered by a recovering industrial sector and strong retail consumption. Industrial output is trending upward, supported by the electronics and automotive industries.

FX Daily thumbnail

FX Daily

ING Bank N.V.·Jul 8, 2026

The market focus turns to the Fed's June meeting minutes, which are expected to bolster a hawkish outlook and support the USD. Meanwhile, the RBNZ delivered a hawkish rate hike, and the NBP remains under scrutiny as the Polish zloty faces downward pressure.

FX Daily thumbnail

FX Daily

ING Bank N.V.·Jul 7, 2026

The report highlights that the upcoming court ruling on Marine Le Pen is not expected to significantly impact the Euro, as markets have largely priced in an RN win. Meanwhile, FX markets remain quiet with a focus on Japanese intervention risks and upcoming central bank updates.

FX Daily: More Insights Into The Fed This Week thumbnail

FX Daily: More Insights Into The Fed This Week

ING Bank N.V.·Jul 6, 2026

The dollar remains supported by expectations of hawkish FOMC minutes, while USD/JPY continues to hover near intervention-sensitive levels. Meanwhile, CEE currencies face volatility amid local inflation releases.

Temporary Uptick For Dutch Chemicals Masks Ongoing Challenges

ING Bank N.V.·Jul 9, 2026

Asia Week Ahead

ING Bank N.V.·Jul 10, 2026

FX Daily: Warsh Should Keep the Dollar Supported

ING Bank N.V.·Jul 1, 2026

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