PRAGUE, Aug 12 (Reuters) - The zloty fell further on
Thursday after Polish lawmakers passed a media reform bill that
drew criticism from the United States, while other central
European currencies strengthened on rate hike hopes.
The Hungarian forint edged higher toward a one-month peak
hit earlier this week while the Czech crown held steady,
hovering off its own 2-week high touched on Tuesday.
Both have led gains in central Europe this year - while the
zloty has lost value - as the Czech and Hungarian central banks
jumped ahead of other European Union monetary policymakers and
began raising interest rates in June to battle inflationary
pressures seen amid a recovery from the coronavirus pandemic.
Poland, meanwhile, has held steady on its monetary policy
and remained cautious of hurting the recovery, and political
pressures are also weighing more, seen on Thursday when the
zloty fell 0.3% to 4.59 to the euro in morning trade.
A Polish government bill, strengthening a ban on firms from
outside the European Economic Area controlling Polish
broadcasters, made it through Poland"s lower house of parliament
late on Wednesday and will now head to the Senate.
The Polish opposition said the bill was meant to silence a
U.S.-owned news channel critical of the government, leading to a
swift denunciation from the United States, one of Warsaw"s most
important allies.
Commerzbank said due to political risks it "consider(ed) an
increased PLN risk premium to be justified for the time being."
Elsewhere, the forint was up 0.2% at 353.1 to the
euro at 0904 GMT, finding continued support from expectations
the Hungarian central bank could deliver a third interest rate
increase when it meets again in August.
Minutes from its July meeting release on Wednesday showed
its last 30-basis-point rate increase could serve as guidance
for the size of its next move.
The crown, too, was steady, trading at 25.40 to the euro,
buoyed by a larger-than-expected inflation s pike that has
raised chances the Czech central bank may opt for a
bigger-than-usual rate increases after two consecutive
25-basis-point hikes.
On stock markets, Warsaw and Budapest eased
but Prague jumped 1.4%, with Stock Spirits, listed in
London and Prague, soaring over 40% after CVC-affiliated funds
said they would buy the drinks group for about $1 billion.
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