日本語
Español
中文
Русский 
Français
- New York 18:48
- London 22:48
- Barcelona 23:48
- Tokyo 07:48
- Sydney 09:48
- RATES & CHARTS
- NEWS
- FUNDAMENTAL
- TECHNICAL
- TOOLS
- METATRADER
- LIVE
- EDUCATION
- FORUM
- SERVICES
- BROKERS & FDMs
- Premium
Central European Weekly
Polish markets in wait and see mode ahead of heavy data week
Mon, Jun 15 2009, 10:57 GMT
by KBC Market Research Desk
KBC Bank | View company's profile
Czech Republic
Comments from the CNB signal that the bank might stay on hold in June
Hungary
May inflation disappointed on the upside
Poland
Polish markets in wait and see mode ahead of heavy data week
The week ahead
Polish macro eye-catchers in spotlight
Overview
Central bank meetings will be very exciting in June
It seems that the June meetings of the National Bank of Hungary and the Czech National Bank will be very exciting and interesting.
Hungary is slowly but surely heading for the situation we already know from the past very well. The decreasing risk-aversion in global markets makes investors buy highyielding bonds and this supports the forint. The strengthening forint boosts rate cut expectations and this further encourages foreign investors to continue to buy bonds. All of this is happening in spite of Hungary’s inflation going up. Thus the MNB is confronted with the dilemma as to whether to rely on the favourable global sentiment, which is currently encouraging the domestic currency and reducing imported inflation, or whether, by contrast, to take into account the rise in headline inflation, which will go up even more due to a VAT increase. Our opinion is that the NBH will resolve this delicate situation by not changing its base interest rate, even if the forint strengthens slightly more.
Another exciting meeting may be that of the Czech National Bank. While the Czech economy is developing in accordance with CNB’s expectations (with both the economy and inflation going down), the latest statements suggest that CNB Board Members’ opinions are divided on whether to change official interest rates again or not. After last meeting, it seemed that the CNB Bank Board would proceed to another rate cut soon. However, the latest statements from CNB Board Members indicate, in our opinion, that they are primarily trying to find arguments for not cutting repo rates again. Therefore we are of the opinion that Czech rates will probably remain unchanged this time.
Published on Mon, Jun 15 2009, 11:06 GMT
Archive
- Zloty waits important domestic macro readings
Published On Tue, Mar 16 2010, 05:33 GMT - Polish GDP confirms solid recovery, rate hikes seen in the second half of the year
Published On Tue, Mar 9 2010, 05:58 GMT - EUP/PLN drops again below the 4.0 level
Published On Tue, Mar 2 2010, 06:50 GMT - Wage growth continues to moderate
Published On Tue, Feb 23 2010, 07:02 GMT - Foreign trade reached 4.2% of GDP surplus in 2009
Published On Mon, Feb 15 2010, 13:58 GMT
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
Yesterday, the Polish labour market data was published by Danske Bank A/S
Wed, Mar 17 2010, 06:27 GMT
Polish GDP confirms solid recovery, rate hikes seen in the second half of the year by KBC Bank
Tue, Mar 9 2010, 05:58 GMT
Forint steady ahead of the MNB decision by KBC Bank
Mon, Feb 22 2010, 09:24 GMT
Polish governor considers interest rate hike by KBC Bank
Wed, Feb 17 2010, 10:42 GMT
EUR/PLN bounces back above 4.0-level by KBC Bank
Thu, Feb 4 2010, 09:27 GMT
Related content
Polish Prime Minister To Limit Public Spending To 1% Annually-FT
Dow Jones | Thu, Jan 28 2010, 08:15 GMT
Polish MPC Keeps Neutral Policy Bias At January Meeting
Dow Jones | Tue, Jan 26 2010, 13:53 GMT
Polish Ctrl Bank Head:More Time Needed For Clear Econ Outlook
Dow Jones | Thu, Jan 21 2010, 14:27 GMT
DATA SNAP: Polish Dec CPI Excluding Food, Energy +2.6% On Yr
Dow Jones | Thu, Jan 21 2010, 13:23 GMT
DATA SNAP: Polish Dec Industrial Output +7.4%YY; Seen +12%
Dow Jones | Thu, Jan 21 2010, 13:19 GMT
Interested in forex trading? forex brokerage firms!
GET CASH BACK FOR YOUR TRADES! Learn more about the Pip Rebate Program
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 trade 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.
Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.
Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
©2010 "FXstreet.com. The Forex Market" All Rights Reserved.