I expect consumer spending to continue to improve. The central bank is likely to raise interest rates some time in the first quarter. |
Prices are rising, but not fast enough to prompt the central bank to raise interest rates. Inflation will pick up slowly toward the end of the year. |
The central bank is taking a pre-emptive action. Confidence is rising, sales are picking up and the central bank is looking at higher growth next year. |
The negative impact of high international oil prices was big in August. We can still expect a recovery in spending in the second half. |