http://www.fxstreet.com/fundamental/market-view/central-european-weekly/http://www.fxstreet.com/fundamental/http://mediaserver.fxstreet.com/images/fxstreet-provider-logo1-en.gif7http://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-11-16.htmlCzech Republic GDP suggests the worst might be over for the Czech economy Hungary Lower inflation could make the budget target hard to achieve  Poland Inflation on the way back to NBP comfort-zone The Week Ahead Polish industrial output in focus Overview The Czech and Hungarian GDPs Are Like Night and Day The Central European economies (with the exception of Poland), like most other EU countries, presented their key inflation and growth data last week. Probably the most interesting of theMon, 16 Nov 2009 12:05:42 GMThttp://www.fxstreet.com/fundamental/market-view/piet.lammens@kbc.be (KBC Bank)http://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-11-16.htmlhttp://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-11-09.htmlCzech Republic The Czech trade balance continues to show huge surpluses Hungary Industrial production back in positive territory in the third quarter Poland Polish inflation in the focus this week The Week Ahead Will Czech and Hungarian GDP readings mark the bottom of the business cycle? Overview CNB stays on hold and paves the way for a strong koruna The Czech National Bank has never before seen its Governor and Deputy Governor be outvoted in the CNB Board twice in consecutive meetings; WhileMon, 09 Nov 2009 12:27:52 GMThttp://www.fxstreet.com/fundamental/market-view/piet.lammens@kbc.be (KBC Bank)http://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-11-09.htmlhttp://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-11-02.htmlCzech Republic Rate cut likely when the central bank meets this week Hungary Profit-taking send the forint to the key EUR/HUF 275 level Poland Polish central bank shifts to a neutral mode The Week Ahead Another CNB 25 bps Rate Cut on the Horizon, but Nothing More Overview Central Banks at the Czech-Polish Crossroads Every week, Central Europe proves to the investors on Wall Street and London’s City that it is not a uniform region, where economies can be easily lumped together. The latestMon, 02 Nov 2009 12:50:20 GMThttp://www.fxstreet.com/fundamental/market-view/piet.lammens@kbc.be (KBC Bank)http://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-11-02.htmlhttp://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-10-26.htmlCzech Republic Parliament passes the state budget for 2010 in its first reading. Hungary Very weak retail sales point to slow recovery Poland Surprisingly strong industrial output helps the zloty The Week Ahead Polish central bank is returning to a neutral mode Overview Bullish market sentiment contrasts with the bleak real economy Last week, the trend on Central European bond and forex markets in place since the beginning of this month continued. With the exception of the Czech koruna,Mon, 26 Oct 2009 13:41:34 GMThttp://www.fxstreet.com/fundamental/market-view/piet.lammens@kbc.be (KBC Bank)http://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-10-26.htmlhttp://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-10-19.htmlCzech Republic New eco data from the economy point again to a CNB rate cut Hungary Bonds rally on rate cut hopes Poland EUR/PLN still hovers around the 4.2 figure The Week Ahead The MNB is going to cut rates for the fifth time in a row Overview Amazing Rally on the Czech and Hungarian bond mar- kets Well, good times seem to have begun for Czech and Hungarian bonds. Looking at yields of 10Y bonds, they dropped by 50 basis points and more in October, which translates in price rises by around 4%Mon, 19 Oct 2009 10:39:00 GMThttp://www.fxstreet.com/fundamental/market-view/piet.lammens@kbc.be (KBC Bank)http://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-10-19.htmlhttp://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-10-12.htmlCzech Republic EUR/CZK almost tested the 26 level as CNB threatens with interventions Hungary While foreign trade is in huge surplus, government bond auctions are very bid Poland Zloty weakens as it faces contagion from Romania and Latvia The Week Ahead Hungarian and Polish inflation figures in the spotlight Overview CNB on its was to ‘quantitative easing’ The Czech National Bank has started to prepare its ‘artillery’ ahead of the November meeting of the CNB Board, when a new inflationMon, 12 Oct 2009 12:58:59 GMThttp://www.fxstreet.com/fundamental/market-view/piet.lammens@kbc.be (KBC Bank)http://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-10-12.htmlhttp://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-10-05.htmlCzech Republic Dovish talk from the central bank becomes louder Hungary While S&P upgrades outlook for sovereign ratings, the C/A swings in surplus Poland Central Bank is slowly getting out of the dovish mode The Week Ahead Czech headline year-on-year inflation should slip into negative territory Overview Does Hungary Stop Being the ‘Sick Man’ of the Region? Last week, Central Europe was dominated by news about Hungary, mostly positive news, which even provided the forint with stabilityMon, 05 Oct 2009 12:16:32 GMThttp://www.fxstreet.com/fundamental/market-view/piet.lammens@kbc.be (KBC Bank)http://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-10-05.htmlhttp://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-09-29.htmlCzech Republic CNB leaves rates unchanged, but two Board members voted for a rate cut Hungary The fixed-income market has priced in deep rate cuts Poland Economy remains on track for the recovery Overview CE Central Banks in focus again As far as the Czech Republic is concerned, the Czech National Bank sprang a small surprise, when two of the seven members of its Board voted for a rate cut at their last meeting. The market reaction to this ‘surprise’ has been moderate so far. Nevertheless, weTue, 29 Sep 2009 10:45:42 GMThttp://www.fxstreet.com/fundamental/market-view/piet.lammens@kbc.be (KBC Bank)http://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-09-29.htmlhttp://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-09-21.htmlCzech Republic EUR/CZK temporary dips below the 25.0 level Hungary Yields at the short-end drop below the key 7.00% Poland Polish construction supports the recovery-story The week ahead The CNB will leave its rates unchanged and send a neutral message Overview Czech markets still shrugs off turbulent domestic politics No early general election will be held in November in the Czech Republic. At the same time, the Czech koruna has settled close to the highs for this year. These were probably theMon, 21 Sep 2009 13:50:36 GMThttp://www.fxstreet.com/fundamental/market-view/piet.lammens@kbc.be (KBC Bank)http://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-09-21.htmlhttp://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-09-14.htmlCzech Republic The picture of the Czech economy again deteriorates Hungary VAT hike in July has had only 50% pass-through on headline inflation Poland Polish budget woes weigh on the zloty The Week Ahead Polish inflation and industrial production figures take central stage  Overview Czech and Hungary’s Recession Cool Inflation Pressures While the Czech Constitutional Court issued its ruling, which effectively means a postponement of the early election from October to November (or evenMon, 14 Sep 2009 13:04:57 GMThttp://www.fxstreet.com/fundamental/market-view/piet.lammens@kbc.be (KBC Bank)http://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-09-14.htmlhttp://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-09-07.htmlCzech Republic Wage growth continues to be very moderate Hungary The short-end has already priced further drastic base rate reduction Poland Budget deficit talks in focus The Week Ahead Czech Constitutional court and July’s inflation readings might bring headlines from central Europe Overview Market rightly shrugs off Postponement of Early Election The uneventful week in Eastern Europe that has just passed was only stirred by a single interesting event, the intervention of the ConstitutionalMon, 07 Sep 2009 14:21:11 GMThttp://www.fxstreet.com/fundamental/market-view/piet.lammens@kbc.be (KBC Bank)http://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-09-07.htmlhttp://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-08-31.htmlCzech Republic The discussions over next year’s budget are gaining momentum Hungary Pass-through from the VAT hike into inflation lower-than-expected due too recession Poland Poland’s GDP is surprisingly resilient thanks to households and construction The week ahead Czech Government 10Y Bond auction could be the only market mover in Central Europe this time Overview Central Europe looks like a fragmented peloton In Central Europe, just like the rest of the world, the hope of the comingMon, 31 Aug 2009 12:37:16 GMThttp://www.fxstreet.com/fundamental/market-view/piet.lammens@kbc.be (KBC Bank)http://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-08-31.htmlhttp://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-07-28.htmlCzech Republic The Ministry of Finance downgrades the outlook for the Czech economy Hungary NBH surprises with a bold 100 bps rate cut Poland Poland to see better times The week ahead A cut in Hungary, no change in Poland Overview Strong FX encourages the NBH and CNB to cut again The global stock rally continues and is having a beneficial effect on Central European currencies and partly also on bonds. The Czech koruna consequently finds itself at this year’s highs, while the zloty and theTue, 28 Jul 2009 09:52:23 GMThttp://www.fxstreet.com/fundamental/market-view/piet.lammens@kbc.be (KBC Bank)http://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-07-28.htmlhttp://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-07-13.htmlCzech Republic Inflation to plummet Hungary Foreign trade swings into huge surplus Poland FinMin signals that the Zloty may enter the ERM2 in the 2nd half of this year The week ahead Hungarian and Polish inflation reading in focus Overview CE trade balances in surpluses despite deep recession The trade balances of Central European countries are obviously improving. This is happening in spite of the fact that the export-oriented industry is continuing to fall rapidly. Except for the small carMon, 13 Jul 2009 12:40:18 GMThttp://www.fxstreet.com/fundamental/market-view/piet.lammens@kbc.be (KBC Bank)http://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-07-13.htmlhttp://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-06-29.v02.htmlCzech Republic The CNB leaves rates unchanged Poland The NBP probably finished its rate cut cycle The Week Ahead No eye-catching events in Central Europe this week Overview NBH and NBP match expectations, CNB surprises Another week has come and gone, bringing to a close a series of interesting central bank meetings in Central Europe. The past five business days saw two decisions that met market expectations and one that surprised markets (but not us). fpersists, which is an open question.OnMon, 29 Jun 2009 11:00:38 GMThttp://www.fxstreet.com/fundamental/market-view/piet.lammens@kbc.be (KBC Bank)http://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-06-29.v02.htmlhttp://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-06-22.htmlCzech Republic The current account still shows a surplus Hungary Both forint and bonds in a wait-and-see mode Poland Poland heading for another rate cut? The Week Ahead MNB on hold, NBP should cut and CNB? We believe in no change, but the strong CZK could change it Overview Czech koruna decouples from the rest of The koruna is strengthening… Last week, there was only one currency in the world that the koruna couldn’t beat – the Chilean peso. All the other currencies were ‘licked’ by the CzechMon, 22 Jun 2009 12:28:22 GMThttp://www.fxstreet.com/fundamental/market-view/piet.lammens@kbc.be (KBC Bank)http://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-06-22.htmlhttp://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-06-15.htmlCzech 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 theMon, 15 Jun 2009 10:57:09 GMThttp://www.fxstreet.com/fundamental/market-view/piet.lammens@kbc.be (KBC Bank)http://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-06-15.htmlhttp://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-06-08.htmlCzech Republic The foreign trade surplus rose in April Hungary Forint struggled amid concerns about the Latvian currency Poland Zloty tumbles on Latvian fears The week ahead Beside Latvia’s fight for its currency board Czech and Hungary’s inflation might grab some attention Overview Latvia might spread contagion to Central Europe Central European markets, unlike the other emerging markets, were not allowed to fully rejoice at another decrease in risk aversion on global markets last week. TheMon, 08 Jun 2009 11:21:43 GMThttp://www.fxstreet.com/fundamental/market-view/piet.lammens@kbc.be (KBC Bank)http://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-06-08.htmlhttp://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-06-03.htmlCzech Republic Czech industry continued to plummet in April Hungary NBH stays on hold Poland Poland remains the only country of the region showing positive growth Overview CNB and NBP have not left easing mode While markets of risky assets are still being fuelled by the hypothesis of the spring signs of recovery, the central banks of the Czech Republic and Poland are concerned with something else. They seem to be primarily setting the stage for being able to cut official interest rates again,Wed, 03 Jun 2009 04:49:34 GMThttp://www.fxstreet.com/fundamental/market-view/piet.lammens@kbc.be (KBC Bank)http://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-06-03.htmlhttp://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-05-18.htmlCzech Republic GDP declines sharply at the beginning of 2009 Hungary Mounting inflation risks Poland Inflation on the rise due to food and energy The Week Ahead Polish retail sales and industrial production should confirm deteriorating macro-conditions Overview CEE growth outlook remains gloomy Export-oriented Central European economies are in recession. This is evident from the preliminary Q1 data published across the region. The main economy of the region –Poland – has not yet unveiled itsMon, 18 May 2009 12:58:29 GMThttp://www.fxstreet.com/fundamental/market-view/piet.lammens@kbc.be (KBC Bank)http://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-05-18.htmlhttp://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-05-11.htmlCzech Republic The CNB cuts repo rate to an all-time low Hungary Foreign trade balance posted a record surplus, C/A shrinks significantly Poland EUR/PLN enjoys global equity rally The Week Ahead GDP growth in the Czech Republic and Hungary will be deeply in red Overview CE exports see green shoots thanks to scrap subsidy Probably the best macroeconomic evidence that the spring signs of the stabilisation of the global economy have also reached Central Europe is the Czech and Hungarian tradeMon, 11 May 2009 13:42:07 GMThttp://www.fxstreet.com/fundamental/market-view/piet.lammens@kbc.be (KBC Bank)http://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-05-11.htmlhttp://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-04-27.htmlCzech Republic 10Y benchmark auction well bid Hungary The new government will try to minimise the fiscal tightening for this year Poland The Polish zloty underperforms its peers The week ahead NBP to opt for a pause in its easing cycle Overview CE fixed-income markets see green shoots of recovery The improved sentiment in global markets has also become evident in Central Europe. This improvement stemmed not only from leading indicators such as business sentiment, but particularly from aMon, 27 Apr 2009 12:46:05 GMThttp://www.fxstreet.com/fundamental/market-view/piet.lammens@kbc.be (KBC Bank)http://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-04-27.htmlhttp://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-04-20.htmlCzech Republic Czech industry continues to fall at a double-digit rate Hungary New PM announcement about the fresh austerity package Poland Poland asks IMF for new flexible credit line (FCL) The Week Ahead MNB expected to stay on hold at 9.50%, despite VAT hike and implied inflation outlook Overview IMF’s back up of Poland opens door for carry trade in CE Poland after Hungary, Latvia, and Romania, has become the fourth Eastern European country of what are known as the new EU Member States toMon, 20 Apr 2009 10:59:35 GMThttp://www.fxstreet.com/fundamental/market-view/piet.lammens@kbc.be (KBC Bank)http://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-04-20.htmlhttp://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-04-06.htmlCzech Republic The rapid decline in exports persists; yet foreign trade remains in surplus. Hungary New PM candidate Mr Bajnai announced a large-scale austerity package Poland Zloty rallies on lower risk aversion The week ahead Czech and Hungarian inflation figures should show some rebound Overview G2O meeting brings some relief to Central Europe Central European markets gave an obvious sigh of relief, due, somewhat paradoxically, to the outcome of the G20 meeting, becomes market expectationsMon, 06 Apr 2009 11:51:03 GMThttp://www.fxstreet.com/fundamental/market-view/piet.lammens@kbc.be (KBC Bank)http://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-04-06.htmlhttp://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-03-30.htmlCzech Republic Czech National Bank: The risks for interest rates are on the downside Hungary New PM candidate Bajnai is coming with 500bn fiscal package while inflation worries rise Poland NBP cuts rates by 25 bps, as expected The Week Ahead Watch the final result of the Hungarian C/A balance for 2008 Overview Re-coupling of the Czech Republic and Hungary It seemed for some time that Czech economic policy makers would succeed in persuading foreign investors and media that they should not lumpMon, 30 Mar 2009 13:36:49 GMThttp://www.fxstreet.com/fundamental/market-view/piet.lammens@kbc.be (KBC Bank)http://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-03-30.htmlhttp://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-03-23.htmlCzech Republic The Czech National Bank turns hawkish Hungary Households started to repay their debt in December despite the weaker currency Poland The NBP rate decision will be a very close call this month... The Week Ahead NBP will focus on the economy and cuts rate further, no matter what the PLN is doing Overview Why intervention makes sense in Czech and Polish case The life of Eastern European markets is no bed of roses nowadays. Appearing almost every day on the front pages of dailiesMon, 23 Mar 2009 11:16:34 GMThttp://www.fxstreet.com/fundamental/market-view/piet.lammens@kbc.be (KBC Bank)http://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-03-23.htmlhttp://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-03-16.htmlCzech Republic Falling demand in Western Europe is driving the Czech economy into recession. Hungary A rally drives the currency higher and yields roughly 100bps lower Poland Higher inflation is not going to prevent interest rates from going lower The Week Ahead Polish Industrial Production Figures Will Show Further weakness Overview Hungarian and Polish households cheer SNB policy An event that may have a fundamental effect on the Hungarian and Polish currencies and economies took place, butMon, 16 Mar 2009 13:21:09 GMThttp://www.fxstreet.com/fundamental/market-view/piet.lammens@kbc.be (KBC Bank)http://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-03-16.htmlhttp://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-03-10.htmlCzech Republic Czech unemployment sharply higher Hungary Forint reaches an all-time low of 317/€, FRA market is looking for 150-200bps of rate hikes Poland Though no budget revision has been confirmed, we believe it will come The Week Ahead February Inflation Figures Will Show Ongoing Absence of Prices Pressures Overview Are foreign investors starting to distinguish among CEE countries? Last week, foreign investors at last started to distinguish between various CEE countries based on theirTue, 10 Mar 2009 06:58:42 GMThttp://www.fxstreet.com/fundamental/market-view/piet.lammens@kbc.be (KBC Bank)http://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-03-10.htmlhttp://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-02-24.htmlCzech Republic The Czech National Bank turns hawkish Hungary Households started to repay their debt in December despite the weaker currency Poland The NBP rate decision will be a very close call this month... The Week Ahead NBP will focus on the economy and cuts rate further, no matter what the PLN is doing Overview Why intervention makes sense in Czech and Polish case The life of Eastern European markets is no bed of roses nowadays. Appearing almost every day on the front pages of dailiesTue, 24 Feb 2009 05:48:26 GMThttp://www.fxstreet.com/fundamental/market-view/piet.lammens@kbc.be (KBC Bank)http://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-02-24.htmlhttp://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-02-17.htmlCzech Republic The Koruna is heading towards EURCZK 28.80 Hungary As the forint weakens, the bond market gives back all the weekly gains Poland Weakening economy set to fuel more aggressive rate cuts from the NBP... The Week Ahead NBP will continue with its aggressive easing campaign Overview Central Europe underperforms other emerging markets Central Europe was again heavily sold by FX investors, with the sell-off triggered by multiple factors like the unfortunate comment from a MNB DeputyTue, 17 Feb 2009 05:39:19 GMThttp://www.fxstreet.com/fundamental/market-view/piet.lammens@kbc.be (KBC Bank)http://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-02-17.htmlhttp://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-02-10.htmlCzech Republic CNB cut rates by 50 bps, but surprisingly sees a bottom of the easing cycle Hungary Collapse in manufacturing triggers deep recession Poland Economy on track to zero growth... The Week Ahead Czech’s and Hungary’s figures show that recession in CE is on track Overview CE authorities try to find ways to curb depreciation As generally expected, the Czech National Bank cut interest rates by 50 basis points. However, unexpectedly, it signalled that the bottom for official interestTue, 10 Feb 2009 05:41:54 GMThttp://www.fxstreet.com/fundamental/market-view/piet.lammens@kbc.be (KBC Bank)http://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-02-10.htmlhttp://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-02-03.htmlRepublic Bond yields sharply higher as FinMin plans to issue an expensive eurobond Hungary EUR/HUF seriously tests the 300 level Poland Economy on track to zero growth... The Week Ahead Another 50 bps rate cut from the CNB? Overview Forint sell-off shakes the whole Central European area Foreign media are increasingly associating Central and Eastern Europe with the term ‘crisis’. Indeed, investors are becoming more and more nervous about the FX exposure of Central European borrowers (notablyTue, 03 Feb 2009 05:43:29 GMThttp://www.fxstreet.com/fundamental/market-view/piet.lammens@kbc.be (KBC Bank)http://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-02-03.htmlhttp://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-01-27.htmlCzech Republic The Koruna is heading towards EURCZK 28.80 Hungary As the forint weakens, the bond market gives back all the weekly gains Poland Weakening economy set to fuel more aggressive rate cuts from the NBP... The Week Ahead NBP will continue with its aggressive easing campaign Overview Central Europe underperforms other emerging markets Central Europe was again heavily sold by FX investors, with the sell-off triggered by multiple factors like the unfortunate comment from a MNB DeputyTue, 27 Jan 2009 06:05:36 GMThttp://www.fxstreet.com/fundamental/market-view/piet.lammens@kbc.be (KBC Bank)http://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-01-27.htmlhttp://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-01-19.htmlCzech Republic The worst Industrial output in the modern history Hungary IMF gives a relatively positive assessment Poland Zloty sell-off continues The Week Ahead Will the Polish industrial production follow poor Czech and Hungarian examples? Overview Weaker zloty and koruna as welcome help for economies After a prolonged period, inflation rates in Central European countries have settled within the bounds set by their respective central banks. The Czech, Hungarian, and Polish year-on-yearMon, 19 Jan 2009 12:21:56 GMThttp://www.fxstreet.com/fundamental/market-view/piet.lammens@kbc.be (KBC Bank)http://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-01-19.htmlhttp://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-01-12.htmlCzech Republic Foreign trade swung unexpectedly to deficit in November Hungary Budget deficit target seems to be at risk Poland ERM-2 entry without changing the constitution. A real option or political play? The Week Ahead Poland’s and Hungary’s inflation back in target range Overview Cautious ECB might bring weakness to Central Europe Not even the beginning of year changed the fundamental outlook for Central Europe. The first macro figures from both the Czech Republic and Hungary were justMon, 12 Jan 2009 12:14:32 GMThttp://www.fxstreet.com/fundamental/market-view/piet.lammens@kbc.be (KBC Bank)http://www.fxstreet.com/fundamental/market-view/central-european-weekly/2009-01-12.htmlhttp://www.fxstreet.com/fundamental/market-view/central-european-weekly/2008-12-16.htmlCzech Republic Domestic industry hits the wall Hungary MNB will not stop easing after surprising 50 bps rate cut Poland Polish markets gear up for weak eco data (and a rate cut) in December... Slovakia November’s inflation decelerates to 4.9% The Week Ahead Czech central bank ready to cut again - this time by 50 bps Overview Macro picture darkens, outlook for CZK and PLN too Bad micro-economic news has been increasingly followed by macroeconomic data in Central Europe that the economic outlookTue, 16 Dec 2008 06:21:07 GMThttp://www.fxstreet.com/fundamental/market-view/piet.lammens@kbc.be (KBC Bank)http://www.fxstreet.com/fundamental/market-view/central-european-weekly/2008-12-16.htmlhttp://www.fxstreet.com/fundamental/market-view/central-european-weekly/2008-12-08.htmlCzech Republic Headline inflation extends its quick fall Hungary Bond market rallied sharply and yields dropped to single digit level Poland Polish markets gear up for weak data from the real economy (and a rate cut) in December... Slovakia The economy decelerates, but growth is the second highest in the EU The week ahead November inflation figures in focus Overview CE governments look for new ways of fiscal expansion Hard macroeconomic data have yet to indicate the full-scale deterioration ofMon, 08 Dec 2008 12:30:54 GMThttp://www.fxstreet.com/fundamental/market-view/piet.lammens@kbc.be (KBC Bank)http://www.fxstreet.com/fundamental/market-view/central-european-weekly/2008-12-08.htmlhttp://www.fxstreet.com/fundamental/market-view/central-european-weekly/2008-12-01.htmlCzech Republic The fixed-income market sees only gradual improvement Hungary NBH lowers its base rate from 11.50 % to 11.0 % Poland NBP cuts by 25 bps, while the policy statement was outright dovish Slovakia S&P ups Slovakia’s rating The week ahead Hungary’s foreign trade balance is to only important data on the agenda Overview NBH and NBP surprise with an earlier than expected cuts The National Bank of Hungary and its Polish counterpart undoubtedly surprised us and partly also the marketsMon, 01 Dec 2008 11:47:36 GMThttp://www.fxstreet.com/fundamental/market-view/piet.lammens@kbc.be (KBC Bank)http://www.fxstreet.com/fundamental/market-view/central-european-weekly/2008-12-01.htmlhttp://www.fxstreet.com/fundamental/market-view/central-european-weekly/2008-11-24.htmlCzech Republic Czech inflation beats a quick retreat Hungary Falling domestic demand could help to mitigate the effect on inflation of a weaker forint Poland MPC will wait with the cut for the Q4 GDP data and the inflation projection in February Slovakia ARDAL plans Eurobond issue in Q1 09 The Week Ahead The Hungarian and Polish central bank are expected to stay on hold this month Overview NBP waits for a missing agreement on the euro entry The upcoming week in Central Europe will beMon, 24 Nov 2008 11:38:34 GMThttp://www.fxstreet.com/fundamental/market-view/piet.lammens@kbc.be (KBC Bank)http://www.fxstreet.com/fundamental/market-view/central-european-weekly/2008-11-24.htmlhttp://www.fxstreet.com/fundamental/market-view/central-european-weekly/2008-11-17.htmlCzech Republic The Czech Economy Did Not Slow in the Third Quarter Hungary Currency weakness may play havoc with inflation outlook Poland Inflation scare off the agenda, growth considerations take firmly centre stage... Slovakia The NBS Cuts Base Rate by 50 bps to 3.25% The Week Ahead Overview Inflation picture improves rapidly in Central Europe Over the past week, Central European markets were confronted with important macroeconomic figures that provided a more precise picture of how theMon, 17 Nov 2008 12:46:34 GMThttp://www.fxstreet.com/fundamental/market-view/piet.lammens@kbc.be (KBC Bank)http://www.fxstreet.com/fundamental/market-view/central-european-weekly/2008-11-17.html