Trhy střední a východní Evropy – FX slabší kvůli politickým a měnovým obavám

    Oct 27 (Reuters) - Central European currencies slipped on
Wednesday, as worries over Poland's row with the European Union
over the rule of law and the speed of monetary policy
normalisation in Hungary weighed on the region. 
    Financial markets are looking for signs of how fast
policymakers will raise interest in a region facing the highest
inflation in Europe. There are also concerns that Poland will
miss out on billions in EU funds due to its clash with Brussels
over judicial reforms.
    "The dispute with the European Union and the delay in the
approval of the national recovery plan, concerns about the
prospects for the global economy, as well as a stronger dollar
are not conducive to the performance of the Polish currency,"
Bank Millennium said in a note.
    At 0927 GMT, the Polish zloty was 0.36% weaker against the
euro at 4.6185.
    The Polish central bank unexpectedly hiked the cost of
credit by 40 basis points to 0.5% in October. Governor Adam
Glapinski is scheduled to address lawmakers in parliament later
on Wednesday and might provide clues as to whether further hikes
are possible before the end of the year. 
    The Hungarian forint was 0.15% weaker against the euro at
365.44.
    The Hungarian central bank hiked its main base rate by 15
basis points to 1.8% in October, but markets have been uncertain
about the pace of further tightening.
    After the rate hike, Deputy Governor Barnabas Virag had said
the bank would continue raising rates in 15-basis-point steps
until December, but was later cited as saying the central bank
needs to tighten monetary conditions more than projected in
September. 
     "The euro-forint rate is stabilizing above the 365-level,
investors consider the cycle of 15-basis-point rate hikes to be
too slow ... according to a Morgan Stanley analysis the Czech
central bank could raise rates by 1.5% this year," Equilor said
in a note.
    The Czech crown was little changed at 25.7060.
    
  
                   CEE       SNAPSHO   AT                       
                   MARKETS   T        1127 CET           
                             CURRENC                            
                             IES                         
                             Latest   Previous  Daily    Change
                             bid      close     change   in 2021
 EURCZK=  Czech    <EURCZK=  25.7060   25.6950   -0.04%   +2.03%
          crown    >                                     
 EURHUF=  Hungary  <EURHUF=  365.440  364.9000   -0.15%   -0.74%
          forint   >               0                     
 EURPLN=  Polish   <EURPLN=   4.6185    4.6020   -0.36%   -1.28%
          zloty    >                                     
 EURRON=  Romania  <EURRON=   4.9485    4.9470   -0.03%   -1.69%
          n leu    >                                     
 EURHRK=  Croatia  <EURHRK=   7.5140    7.5190   +0.07%   +0.45%
          n kuna   >                                     
 EURRSD=  Serbian  <EURRSD=  117.560  117.6000   +0.03%   +0.01%
          dinar    >               0                     
          Note:    calculated from              1800            
          daily                                 CET      
          change Latest   Previous  Daily    Change
                                      close     change   in 2021
 .PX      Prague             1344.69  1340.820   +0.29%   +30.92
                                             0                 %
 .BUX     Budapes            54944.3  55191.91   -0.45%   +30.49
          t                        5                           %
 .WIG20   Warsaw             2395.70   2425.29   -1.22%   +20.75
                                                               %
 .BETI    Buchare            12806.5  12735.36   +0.56%   +30.60
          st                       8                           %
 .SBITOP  Ljublja  <.SBITOP  1185.95   1179.11   +0.58%   +31.65
          na       >                                           %
 .CRBEX   Zagreb             2028.42   2047.05   -0.91%   +16.62
                                                               %
 .BELEX1  Belgrad  <.BELEX1   794.34    805.85   -1.43%   +6.11%
 5        e        5>                                    
 .SOFIX   Sofia               568.83    571.90   -0.54%   +27.10
                                                               %
                                                                
                             Yield    Yield     Spread   Daily
                             (bid)    change    vs Bund  change
                                                         in
          Czech                                          spread
          Republi                                        
          c                                              
 CZ2YT=R           <CZ2YT=R   2.7630    0.0100   +342bp    +1bps
 R        2-year   R>                                 s  
 CZ5YT=R           <CZ5YT=R   2.7220    0.0150   +319bp    +3bps
 R        5-year   R>                                 s  
 CZ10YT=           <CZ10YT=   2.6930    0.0300   +285bp    +7bps
 RR       10-year  RR>                                s  
          Poland                                                
 PL2YT=R           <PL2YT=R   1.7480   -0.1540   +241bp   -16bps
 R        2-year   R>                                 s  
 PL5YT=R           <PL5YT=R   2.3110   -0.0630   +278bp    -4bps
 R        5-year   R>                                 s  
 PL10YT=           <PL10YT=   2.9180    0.0000   +308bp    +4bps
 RR       10-year  RR>                                s  
                   FORWARD                                      
                             3x6      6x9       9x12     3M
                                                         interba
                                                         nk
          Czech                 3.42      3.58     3.64     2.15
          Rep      <PRIBOR=                              
                   >                                     
          Hungary               2.81      3.13     3.39     2.02
                                                         
          Poland                1.69      2.09     2.47     0.71
                                                         
          Note:    are for ask                                  
          FRA      prices                                
          quotes                                         
          *********************************************         
          *****************                              
 

 (Reporting by Alan Charlish in Warsaw and Anita Komuves in
Budapest; Editing by Ramakrishnan M.)
 
 
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