Edition:
United Kingdom

Alan Charlish

Poland, Germany contradict Macron on EU Balkan enlargement

05 Jul 2019

POZNAN, Poland Poland and Germany on Friday called for continued progress on European Union membership talks for western Balkan states hoping to join the bloc, rejecting France's position that it shouldn't accept more members until it handles its own issues.

Most CEE currencies seen firming slightly on ECB easing - Reuters poll

05 Jul 2019

WARSAW/PRAGUE Central Europe's main currencies are seen firming slightly against the euro in the coming year according to a Reuters poll, as central banks in the region point to stable rates ahead in contrast to the easing signalled in Frankfurt and Washington.

Polish payment system Blik could be available on Netflix, Uber - PPS CEO

02 Jul 2019

(This June 28 story corrects after clarification from the company that acceptance of the system by these platforms is not certain)

CEE MARKETS-Assets hold steady as investors eye EU jobs, Fed

02 Jul 2019

By Alan Charlish WARSAW, July 2 Central European assets were little changed on Tuesday, with traders focusing on indications of monetary easing in the U.S. and eurozone while keeping an eye on Brussels where EU leaders are seeking to break a stalemate on top jobs. The Federal Reserve remains under pressure to stimulate the U.S. economy despite a ceasefire in the U.S.- China trade war and ECB policymakers are uniting behind the need for stimulus. Central Europe's most liquid currency, the Polish zloty , strengthened 0.05% against the euro, while the Czech crown also gained 0.05%, both continuing to hover around 2019 highs. The Hungarian forint gained 0.12% against the euro, but remained in a range close to 323. "Long dollar positions were cut against zloty -- 25, 24 is the support area and we would need fresh stimulus to go lower in euro/zloty. We may see a technical rebound to 25, 26," said a Warsaw-based currency trader European Union leaders were spending a third consecutive day trying to decide who should hold the bloc's most prominent jobs, including the presidents of the European Commission, European Parliament and the European Central Bank. "The expectation is for monetary policy easing, so the nomination of a hawk could destroy that picture," said Jakub Rybacki, economist at ING Bank Slaski, of the ECB top job. Polish and Czech 10-year bond yields continued to hover around 2019-lows. Polish 10-year yields were at 2.359% , while Czech 10-year yields were at 1.538% and Hungarian 10-year yields were at 2.68% Romania's central bank is seeking to bring inflation within target in the medium term, not short-term at the cost of suffocating economic growth, central bank Governor Mugur Isarescu said. The Romanian leu was down 0.11% against the euro at 0926 GMT. "Slowly but steadily the EUR/RON seems to be departing from the 4.7200 support area, trading more around 4.7300 with a general upside bias," ING analysts said in a note. In Poland, the Monetary Policy Council (MPC) convened at the central bank ahead of Wednesday's rates announcement, which is widely expected to see the benchmark rate kept on hold at a record low of 1.5%. "The Polish MPC is likely to keep rates flat, which will be mildly positive for PLN," said Rybacki. CEE SNAPSHOT AT MARKETS 1145 CET CURRENCI ES Latest Previous Daily Change bid close change in 2019 Czech 25.4390 25.4380 -0.00% +1.05% crown Hungary 322.9000 323.0200 +0.04% -0.56% forint Polish 4.2415 4.2408 -0.02% +1.13% zloty Romanian 4.7350 4.7339 -0.02% -1.71% leu Croatian 7.3960 7.3953 -0.01% +0.19% kuna Serbian 117.7500 117.9000 +0.13% +0.47% dinar Note: calculated from 1800 CET daily change Latest Previous Daily Change close change in 2019 Prague 1035.77 1039.840 -0.39% +4.99% 0 Budapest 40537.52 40618.08 -0.20% +3.57% Warsaw 2322.56 2329.74 -0.31% +2.02% Bucharest 8825.63 8797.06 +0.32% +19.53% Ljubljana 878.82 880.32 -0.17% +9.27% Zagreb 1887.75 1883.94 +0.20% +7.94% Belgrade <.BELEX15 741.78 736.97 +0.65% -2.61% > Sofia 584.32 582.79 +0.26% -1.71% BONDS Yield Yield Spread Daily (bid) change vs Bund change in Czech spread Republic 2-year <CZ2YT=RR 1.5550 0.1030 +231bps +11bps > 5-year <CZ5YT=RR 1.3600 0.0880 +204bps +9bps > 10-year <CZ10YT=R 1.5380 -0.0060 +190bps -1bps R> Poland 2-year <PL2YT=RR 1.6100 -0.1030 +236bps -10bps > 5-year <PL5YT=RR 1.9340 -0.0160 +262bps -2bps > 10-year <PL10YT=R 2.3590 -0.0080 +272bps -1bps R> FORWARD RATE AGREEMEN T 3x6 6x9 9x12 3M interban k Czech Rep < 2.18 2.10 1.99 2.17 PRIBOR=> Hungary < 0.34 0.45 0.53 0.25 BUBOR=> Poland < 1.74 1.73 1.71 1.72 WIBOR=> Note: FRA are for ask prices quotes ************************************************** ************ For related news and prices, click on the codes in brackets: All emerging market news EMRG CEEU CEE/ Spot FX rates Eastern Europe spot FX EEFX= Middle East spot FX MEFX= Asia spot FX ASIAFX= Latin America spot FX LATAMFX= Other news and reports World central bank news CEN Economic Data Guide ECONGUIDE Official rates GLOBAL/INT Emerging Diary EMRG/DIARY Top events M/DIARY Diaries DIARY Diaries Index IND/DIARY (Reporting by Alan Charlish, additional reporting by Marton Dunai in Budapest Editing by Keith Weir)

Polish rates to stay on hold this year, maybe next - central banker

24 Jun 2019

WARSAW Although inflation may accelerate, it is unlikely to exceed the upper limit of the Polish central bank's target range, meaning that interest rates can stay at current levels this year and perhaps the following, rate-setter Grazyna Ancyparowicz said.

CEE MARKETS-Investors await Fed, digest dovish Draghi comments

18 Jun 2019

By Alan Charlish WARSAW, June 18 Central European markets remained relatively calm on Tuesday, as traders held fire ahead of a meeting of U.S. rate-setters, but dovish comments from European Central Bank chief Mario Draghi sent Polish bond yields lower. The U.S. Federal Reserve is expected to leave interest rates unchanged when it releases a statement and economic projections on Wednesday after a two-day meeting, but markets are looking for indications of rate cuts later in the year. "The market is going to wait for tomorrow's Fed announcement," said a Warsaw-based currency trader, adding that emerging market currencies have strengthened recently on expectations that the Fed will signal rate cuts. The Polish zloty and Czech crown were slightly lower against the euro. The Warsaw-based trader attributed the zloty's move to a correction from recent highs, while Komercni Banka analysts said there were no real local factors affecting the crown and that volatility should pick up by Wednesday evening after the Fed announcement. The Czech central bank will hold a policy meeting on June 26. It raised the main two-week repo rate by 25 basis points to 2.00% in May, but Governor Jiri Rusnok signalled stable rates until mid-2020. Czech National Bank board member Oldrich Dedek told Reuters in an interview on Monday he sees no reason to vote for an interest rate increase. The Hungarian forint strengthened slightly against the euro to 322.16. Brokerage Equilor said in a note that it expected the currency to move in the 322-324 range with the possibility of tomorrow's Fed statement bringing bigger movements. Polish 10-year bonds tracked euro zone yields lower, after Mario Draghi said the European Central Bank will need to ease policy again, possibly through new rate cuts or asset purchases, if inflation doesn't head back to its target. Stocks were mixed, with Poland's benchmark WIG 20 index gaining 0.3%, while benchmark indices in Prague and Budapest fell 0.3% and 0.8% respectively. CEE SNAPSHOT AT MARKETS 1127 CET CURRENCI ES Latest Previous Daily Change bid close change in 2019 Czech 25.5920 25.5570 -0.14% +0.45% crown Hungary 322.1500 322.3700 +0.07% -0.33% forint Polish 4.2626 4.2600 -0.06% +0.63% zloty Romanian 4.7250 4.7262 +0.03% -1.50% leu Croatian 7.4050 7.4053 +0.00% +0.07% kuna Serbian 117.8000 117.8700 +0.06% +0.42% dinar Note: calculated from 1800 CET daily change Latest Previous Daily Change close change in 2019 Prague 1047.22 1051.570 -0.41% +6.15% 0 Budapest 40423.13 40764.49 -0.84% +3.28% Warsaw 2291.03 2276.60 +0.63% +0.63% Bucharest 8542.17 8504.24 +0.45% +15.69% Ljubljana 872.69 873.33 -0.07% +8.51% Zagreb 1900.49 1908.73 -0.43% +8.67% Belgrade <.BELEX15 718.70 722.89 -0.58% -5.64% > Sofia 574.64 577.21 -0.45% -3.33% BONDS Yield Yield Spread Daily (bid) change vs Bund change in Czech spread Republic 2-year <CZ2YT=RR 1.6090 0.0280 +233bps +6bps > 5-year <CZ5YT=RR 1.4930 0.0050 +215bps +6bps > 10-year <CZ10YT=R 1.6160 0.0160 +191bps +6bps R> Poland 2-year <PL2YT=RR 1.5720 -0.0280 +229bps +1bps > 5-year <PL5YT=RR 1.9400 -0.0470 +259bps +0bps > 10-year <PL10YT=R 2.3610 -0.0670 +265bps -2bps R> FORWARD RATE AGREEMEN T 3x6 6x9 9x12 3M interban k Czech Rep < 2.16 2.08 1.98 2.17 PRIBOR=> Hungary < 0.28 0.41 0.47 0.21 BUBOR=> Poland < 1.72 1.70 1.67 1.72 WIBOR=> Note: FRA are for ask prices quotes ************************************************** ************ For related news and prices, click on the codes in brackets: All emerging market news Spot FX rates Eastern Europe spot FX Middle East spot FX Asia spot FX Latin America spot FX Other news and reports World central bank news Economic Data Guide Official rates Emerging Diary Top events Diaries Diaries Index (Reporting by Alan Charlish, additional reporting by Jason Hovet in Prague and Kristina Than in Budapest Editing by Susan Fenton)

Palestinians say U.S. ambassador helps Israel to annex part of West Bank

10 Jun 2019

WARSAW The Palestinian foreign minister said on Monday that comments by the U.S. ambassador to Israel were intended to help Israel annex parts of the occupied West Bank, underscoring the Palestinians' distrust of the Trump administration.

Polish PM upsets Jews calling compensation pay 'victory for Hitler'

21 May 2019

WARSAW Poland's prime minister has outraged the Jewish community by saying compensation for property seized during World War Two would represent a posthumous triumph for Adolf Hitler.

Poland's Kaczynski promises harsher sentences for child abuse

12 May 2019

WARSAW The leader of Poland's conservative ruling party promised harsher sentences for child abuse on Sunday, as the release of a documentary about paedophile priests created a fresh battleground in an election campaign marked by debate on religion and sexuality.

Polish far-right supporters protest against restitution of Jewish property

11 May 2019

WARSAW Hundreds of far-right supporters marched in Warsaw on Saturday to protest against a U.S. law on the restitution of Jewish property seized during or after World War Two, an issue increasingly featuring in campaigns for upcoming Polish elections.

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