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Polish zloty companies on interest rate hike expectations

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BUDAPEST – Central European Coins

reaffirmed in low liquidity on Monday when US markets were closed

for a vacation, with the Polish zloty beating the region

backed by the possibility of a currency change earlier than expected

tightening of policy in Poland.

The zloty was up 0.23%, trading at 4.5070 against

the common currency of the euro.

“Liquidity is so low that it can cause big jumps in the

rate, ”said a forex trader in Warsaw. “The zloty is also supported

by the central bank governor who on Friday, for the first time,


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it did not exclude the possibility of rate hikes. “

Governor Adam Glapinski was quoted in an interview as saying

that “if there is any reason, for example, when inflation is

driven by demand factors, and strong economic growth continues,

we will raise the rates. “

Rate hikes in Hungary and the Czech Republic in June boosted

anticipation of an earlier-than-expected tightening in Poland as

well, what cheered up the zloty in the last two weeks.

The central banks of Poland and Romania will announce the rate

decisions on Thursday, and Glapinski will hold a press conference

Friday at 1300 GMT.

The Romanian leu was up 0.4% to 4.9270.

Investors also expected the June CPI data in Hungary to be

posted Thursday.

“If inflation is higher than expected, that can


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strengthen interest rate hike expectations and could support the

currency, ”said a currency trader in Budapest.

The deputy governor of the central bank, Barnabas Virag, reiterated the

Monday that the National Bank of Hungary would act decisively

and the fastest possible way to offset inflation risks.

Headline inflation stood at 5.1% annually in May, below the

forecasts, but above the central bank’s target range of 3% with a

tolerance band of one percentage point on each side.

The Hungarian forint fell 0.05% on Monday and was

trading at 351.69.

Markets in the Czech Republic were closed for a

holidays on Monday and Tuesday.

Shares in the region rose, with Warsaw rising

0.33% while Budapest gained 0.24%. Bucharest that

0.43% higher.


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Last previous daily change

offer closing change in 2021

EURCZK = Czech

EURHUF = Hungary 0

EURPLN = Polish

EURRON = Romania

EURHRK = Croatia

EURRSD = Serbian 0

Note: calculated from 1800

Daily CET


Last previous daily change

close change in 2021

.PX Prague 1152.13 1152.130 + 0.00% +12.17


.BUX Budapes 47633.9 47520.42 + 0.24% +13.12

t 1%

.WIG20 Warsaw 2,259.50 2,252.18 + 0.33% +13.89


.BETI Buchare 11881.8 11830.90 + 0.43% +21.17

st 4%

.SBITOP Ljublja <.sbitop na>%

.CRBEX Zagreb 1963.36 1970.32 -0.35% +12.88


.BELEX1 Belgrade <.belex1 e>

.SOFIX Sofia 544.12 550.76 -1.21% +21.58


Daily Yield Differential Yield

(offer) change vs. package change


Czech propagation



CZ2YT = R s

CZ5YT = R s

CZ10YT = s


PL2YT = R s

PL5YT = R s

PL10YT = s


3 × 6 6 × 9 9 × 12 3M



Czech 1.03 1.33 1.63 0.66


Hungary 1.51 1.86 2.03 1.05

Poland 0.31 0.54 0.77 0.21

Note: they are to ask

FRA pricing




(Edited by Mark Heinrich)


In-depth reports on the economics of innovation from The Logic, presented in association with the Financial Post.


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