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Central European Economic Outlook
Wed, Jan 21 2009, 09:26 GMT
by KBC Market Research Desk
• Czech Republic
Deteriorating domestic macro-outlook and gloomy regional perspectives weigh down on the koruna. The Czech currency broke through key levels around 27.40 EUR/CZK and remains vulnerable to further short term losses. Nevertheless the CNB is not bothered by weak domestic currency as Czech foreign debt is very low and denominated mostly in the korunas.
• Hungary
After the IMF head gave a relatively positive assessment of the developments by saying that they are ‘rather satisfied’. The next milestone will be the Funds’ regular assessment in February, which could concentrate on the 4th quarter budget surplus target (already met), the bank rescue package (accepted by the Parliament) and the disinflation process.
• Poland
The Polish Zloty stays under pressure despite the fact that the pre-ERM negotiations with European partners which were scheduled to take place in H1 2009 are set to go on as planned.
• Slovakia
We have revised down our 2009 GDP forecast to 3.0% from 3.9% on the back of growth downturn our main trading partners. Drop in inflation will be connected with lower deregulations, cheaper food and fuel prices. Further monetary easing of ECB is expected.
Published on Wed, Jan 21 2009, 09:29 GMT
Archive
- Central European Economic Outlook
Published On Fri, Oct 23 2009, 08:59 GMT - Central European Economic Outlook
Published On Thu, Aug 6 2009, 09:36 GMT - Central European Economic Outlook
Published On Wed, Jun 10 2009, 11:03 GMT - Central European Economic Outlook
Published On Wed, Mar 25 2009, 10:29 GMT - Central European Economic Outlook
Published On Wed, Jan 21 2009, 09:26 GMT
KBC Bank
| Havenlaan 12, 1080 Brussels
http://www.kbc.be/dealingroom | piet.lammens@kbc.be
Legal disclaimer and risk disclosure
This non-exhaustive information is based on short-term forecasts for expected developments on the financial markets. KBC Bank cannot guarantee that these forecasts will materialize and cannot be held liable in any way for direct or consequential loss arising from any use of this document or its content. The document is not intended as personalized investment advice and does not constitute a recommendation to buy, sell or hold investments described herein. Although information has been obtained from and is based upon sources KBC believes to be reliable, KBC does not guarantee the accuracy of this information, which may be incomplete or condensed. All opinions and estimates constitute a KBC judgment as of the data of the report and are subject to change without notice.Related reports
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