BUDAPEST, June 28 (Reuters) - Central European currencies
edged marginally higher on Monday with the Polish zloty leading
the region, backed by last week"s bout of tightening in Hungary
and the Czech Republic following the COVID-19 pandemic.
The Polish central bank has struck a more dovish tone but
some analysts see a potential pivot from it in July. Governor
Adam Glapinski said on Friday that exiting unconventional
monetary policy measures must be spread over time.
He said the bank"s asset purchase programme will be wound up
before it raises rates. Monetary Policy Council member Eryk Lon
said in an article on Monday that quick tightening of Polish
monetary policy could hinder economic recovery.
Poland"s main interest rate has been at a record low of 0.1%
since May 2020.
By 0910 GMT, the zloty had edged up 0.12% to trade
at 4.5085 to the euro, followed by the Romanian leu
and the Hungarian forint with a 0.1 advance. The Czech
crown was virtually unchanged at 25.4650.
"On the front end (of the rates curve), more and more is
being priced in and three more hikes in 2021 is starting to look
like the base scenario in the eyes of the market," Komercni
Banka trader Marek Lesko said in a note.
Central Europe has been facing stronger inflationary
pressures than the euro zone, putting central banks on alert.
CEE SNAPSHOT AT
MARKETS 1110 CET
CURRENCI
ES
Latest Previous Daily Change
bid close change in 2021
Czech 25.4640 25.4850 +0.08% +3.00%
crown
Hungary 350.9500 351.0500 +0.03% +3.35%
forint
Polish 4.5090 4.5135 +0.10% +1.11%
zloty
Romanian 4.9265 4.9295 +0.06% -1.25%
leu
Croatian 7.4970 7.4973 +0.00% +0.67%
kuna
Serbian 117.5300 117.6050 +0.06% +0.03%
dinar
Note: calculated from 1800
daily CET
change Latest Previous Daily Change
close change in 2021
Prague 1161.84 1161.180 +0.06% +13.11
0 %
Budapest 48036.26 48461.47 -0.88% +14.08
%
Warsaw 2265.71 2282.46 -0.73% +14.20
%
Bucharest 11959.87 11875.16 +0.71% +21.97
%
Ljubljana 1136.23 1137.00 -0.07% +26.13
%
Zagreb 2004.56 2004.95 -0.02% +15.25
%
Belgrade <.BELEX15 778.23 775.37 +0.37% +3.96%
>
Sofia 555.80 556.03 -0.04% +24.19
%
Yield Yield Spread Daily
(bid) change vs Bund change
in
Czech spread
Republic
2-year
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