UPDATE 1-CEE MARKETS-Forint roller-coasters as central bank flags proactive tightening Reuters 1 hr ago By Anita Komuves (Recasts with Hungarian central bank decision) By Anita Komuves BUDAPEST, May 25 (Reuters) - The Hungarian forint initially firmed but then gave up its gains on Tuesday, after the central bank left interest rates unchanged and reiterated that it was ready to proactively tighten policy to address inflation risks. The bank said inflation was likely to be volatile in the coming months, adding that its bond purchase programme remained a crucial policy tool. The forint was down 0.26% on the day, trading at 348.50 per euro, retreating to levels seen in the morning after briefly firming past 348. The word proactive made a few forint bulls enthusiastic and that suddenly strengthened the currency but then it turned back from 347.60, a Budapest-based FX trader said. The currency was still trading at nine-month highs that it hit
CEE MARKETS-Crown firms, other FX up as weak dollar stays weak Reuters 2 hrs ago BUCHAREST, May 24 (Reuters) - Central European currencies edged up on Monday, with the Czech crown testing a fresh 14-month-and-a-half high against the euro, lifted by euro s resurgence against a weak U.S. dollar. The dollar stood near its lowest level in three months against the single currency, weighed by the Federal Reserve s dovish tilt. The euro zone is Central Europe s main trading partner. By 0850 GMT, the crown and the Polish zloty firmed about 0.1% to trade at 25.4290 and 4.4880 to the euro respectively and the Romanian leu was flat on the day at 4.9240. Hungarian markets are closed for a national holiday on Monday. On Tuesday, Hungary s national bank will hold its next rate-setting meeting, where it is seen leaving key rates steady ahead of a June meeting when it could deliver its first base rate hike in nearly a decade.. CEE FX are benefiting from U.S. dollar weakness, a Prag
CEE MARKETS-Currencies mixed as focus turns to Czech c.bank Reuters 2 hrs ago May 6 (Reuters) - Central European currencies were mixed on Thursday, ahead of a Czech rate setting meeting in which the central bank is expected to keep borrowing costs stable, but which could provide hints at possible pace of policy tightening. Central European rate-setters are facing rising inflation, but look set to keep rates low for the time being to help their economies recover from the effects of the coronavirus. On Wednesday the Polish central bank kept its main interest rate at an all-time low of 0.1% despite saying that it sees above-target inflation in the coming months. The Czech central bank was also due to present its quarterly update to its macroeconomic outlook on Thursday. Earlier remarks by the central bankers suggested that the unfavorable epidemics development pushed the central bank towards lower outlook for the domestic economy, Raiffeisenbank said in a note. This
UPDATE 1-CEE MARKETS-Polish stocks up after EU court s mortgage ruling, FX firms Reuters 5 hrs ago By Radu-Sorin Marinas (Adds EU court ruling, releads) By Radu-Sorin Marinas BUCHAREST, April 29 (Reuters) - Polish stocks led regional gains on Thursday after a European court ruling on foreign-currency mortgages perceived as benign by investors, while central European currencies firmed on a U.S. dollar decline on world markets. By 1120 GMT, Warsaw s blue chip index rose as high as 2,081.94, about 2.2% up on the day, and the banks index went up 5.2% to a 14-month high of 6.007. Today s judgment of the CJEU (Court of Justice of the European Union) was perceived as positive, as it clearly does not exacerbate the problem of Swiss franc loans for banks, said Maciej Marcinowski, an analyst at Trigon. Mortgages taken out in Swiss francs are a major risk factor for Polish banks. The CJEU ruling kicks off a crucial fortnight that may decide how courts treat
UPDATE 1-CEE MARKETS-Forint eases slightly after central bank extends QE programme msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.