WARSAW, June 7 (Reuters) - The Polish zloty was firm on
Friday, holding onto gains made since the central bank kept
interest rates steady earlier this week, with its governor
signalling no change through the end of the year.
On Thursday, National Bank of Poland (NBP) Governor Adam
Glapinski, in what he described as a "hawkish" speech, said
there was "zero" chance for interest rate cuts in Poland in
2024, but that they could be possible next year.
A day earlier, Polish rate-setters kept the main interest
rate on hold at 5.75% as expected, extending an easing pause
started in Oct. 2023 amid uncertainty over how much inflation
will rise in the months ahead.
By 0800 GMT, the zloty was little changed against the euro
at 4.2850.
State-controlled development bank BGK said it expected
Friday's session to be calm, with the euro-zloty rate holding at
levels near yesterday's close.
"We assess that the strongly hawkish statement from the
Council will limit the potential for the zloty to weaken even in
the event of negative signals from other emerging market
currencies," BGK added in a note.
"As a result, there is a growing chance that if external
conditions improve, EURPLN may return to the recent lows
(4.25)."
A flash reading showed Poland's consumer inflation inching
up in May below analysts' consensus and hitting the midpoint of
the NBP target range, but it is expected to rise above that
range in the second half of the year due to an easing of
inflation relief measures for households.
The Hungarian forint was also treading water at
389.8000 per euro, on track to erase losses from earlier in the
week.
On Thursday, Hungary's state-owned Corvinus Zrt. bought
Budapest Airport with French co-investor Vinci for 3.1 billion
euros ($3.38 billion).
The Czech crown was also little changed at 24.5970
per euro.
CEE SNAPSHOT AT
MARKETS 1010
CET
CURRENCI
ES
Latest Previou Daily Change
s
bid close change in 2024
EURCZK Czech 24.5970 24.5900 -0.03% +0.42%
= crown
EURHUF Hungary 389.8000 389.450 -0.09% -1.70%
= forint 0
EURPLN Polish 4.2850 4.2810 -0.09% +1.39%
= zloty
EURRON Romania 4.9765 4.9765 +0.00 -0.04%
= n leu %
Note: calculate 1800
daily d from CET
change
Latest Previou Daily Change
s
close change in 2024
.PX Prague 1550.17 1551.85 -0.11% +9.63%
00
.BUX Budapes 69813.19 69669.7 +0.21 +15.17%
t 4 %
.WIG20 Warsaw 2440.79 2462.49 -0.88% +4.17%
.BETI Buchare 17950.83 18174.0 -1.23% +16.78%
st 1
Spread Daily
vs change
Bund in
Czech spread
Republi
c
CZ2YT= ps
CZ5YT= ps
CZ10YT ps
Poland
PL2YT= ps
PL5YT= ps
PL10YT ps
($1 = 0.9180 euros)
(Reporting by Karol Badohal in Warsaw and Boldizsar Gyori in
Budapest. Editing by Christina Fincher)