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EU: EC forecasts assume sustainability of low inflation in Slovakia
Mon, Apr 28 2008, 16:04 GMT
by Mária Valachyová
Erste Bank der oesterreichischen Sparkassen AG
- European Commission published its spring forecasts. It foresees the harmonized inflation on average at 3.8% in 2008 and 3.2% in 2009. The Maastricht limit is seen by the EC at 4.1% and 3.4% in 2008 and 2009, respectively, which means that Slovak inflation will be below the reference limit in both years.
- Hence, the low inflation is viewed as sustainable in Slovakia in the forecasted horizon in the view of European Commission. Please recall that the EC convergence report (to be published in May 7) is the most crucial for chances on euro adoption in Slovakia. The adoption of euro in Slovakia is very likely in our view.
- In reaction, the koruna strengthened to 32.28 SKK/EUR from previous 32.37 SKK/EUR.
Published on Mon, Apr 28 2008, 16:06 GMT
Erste Bank
http://global.treasury.erstebank.com | Rainer.Singer@erstebank.at
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This document is intended as an additional information source, aimed towards our customers. It is based on the best resources available to the authors at press time. The information and data sources utilised are deemed reliable, however, Erste Bank Sparkassen (CR) and affiliates do not take any responsibility for accuracy nor completeness of the information contained herein. This document is neither an offer nor an invitation to buy or sell any securities.Interested in forex trading? forex brokerage firms!
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Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management.
Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
©2008 "FXstreet.com. The Forex Market" All Rights Reserved.