CEE MARKETS-Zloty softens ahead of c.bank governor's press conference

By Alan Charlish WARSAW, April 6 (Reuters) - The Polish zloty weakened slightly on Thursday ahead of a press conference with the central bank governor that will be closely watched for clues as to when interest rates could start to fall. Governor Adam Glapinski struck a dovish tone in his March press conference, saying there could be rate cuts in the fourth quarter. However, with inflation falling less than expected in March, some economists think that message may change. The Polish central bank left its main interest rate on hold at 6.75% on Wednesday, and in a statement reiterated its view that a global economic slowdown combined with the rate hikes it has already implemented would help curb inflation. "We believe that even though CPI fell in March, it will be difficult for A. Glapinski to maintain the mild message from the previous month," Millennium Bank analysts said in a note. "Limiting the scope of interest rate cuts this year would have a symbolic positive impact on the zloty's valuation." At 0846 GMT the Polish currency was 0.10% weaker against the euro at 4.6905. The Czech crown was little changed after data showed wages growing at a double-digit pace for the second month in a row in February, a reading that economists said could revive talk of further interest rate hikes. The crown was 0.04% firmer at 23.423. The Hungarian forint was 0.37% weaker at 377.50, as investors shrugged off data that showed a foreign trade surplus of 513 million euros in February, much better than analyst forecasts for an 8 million euro shortfall. Stocks in the region were mainly higher. Budapest's main index led gains with a 0.72% rise. Hungarian pharmaceutical company Richter rose over 2% after it said it would start a share repurchase programme on Thursday.

CEE SNAPSHO AT

MARKETS T 1046

CET

CURRENC

IES

Latest Previou Daily Change s

bid close change in 2023 EURCZK Czech <EURCZK 23.4230 23.4320 +0.04% +3.14% = crown =>
EURHUF Hungary <EURHUF 377.500 376.100 -0.37% +5.81% = forint => 0 0
EURPLN Polish <EURPLN 4.6905 4.6860 -0.10% -0.02% = zloty =>
EURRON Romanian <EURRON 4.9362 4.9312 -0.10% +0.13% = leu =>

EURRSD Serbian <EURRSD 117.200 117.275 +0.06% +0.09% = dinar => 0 0

Note: calculated from 1800

daily CET

change

Latest Previou Daily Change s

close change in 2023 .PX Prague 1375.67 1366.80 +0.65% +14.47 00 % .BUX Budapest 44194.3 43878.6 +0.72% +0.91% 3 6
.WIG20 Warsaw <.WIG20 1755.48 1756.95 -0.08% -2.04% >
.BETI Buchares 12356.2 12334.7 +0.17% +5.94% t 5 5
.SBITO Ljubljan <.SBITO 1202.29 1204.39 -0.17% +14.63 P a P> % .BELEX Belgrade <.BELEX 883.57 883.79 -0.02% +7.15% 15 15>
.SOFIX Sofia <.SOFIX 606.91 610.43 -0.58% +0.90% >

Yield Yield Spread Daily (bid) change vs Bund change in Czech spread Republic
CZ2YT= 2-year <CZ2YT= 5.7980 0.0380 +331bp +7bps RR RR> s
CZ5YT= 5-year <CZ5YT= 4.9200 -0.0290 +280bp +1bps RR RR> s
CZ10YT <CZ10YT 4.5080 -0.0150 +237bp +2bps =RR 10-year =RR> s

Poland
PL2YT= 2-year <PL2YT= 6.0020 -0.1430 +352bp -11bps RR RR> s
PL5YT= 5-year <PL5YT= 5.9760 -0.0870 +386bp -4bps RR RR> s
PL10YT <PL10YT 6.0020 -0.0860 +386bp -5bps =RR 10-year =RR> s

FORWARD

3x6 6x9 9x12 3M interba nk Czech <CZKFRA 7.11 6.67 6.00 7.18 Rep ><PRIBO

R=>

Hungary <HUFFRA 14.65 12.86 11.50 16.30 ><BUBOR

=>

Poland <PLNFRA 6.77 6.60 6.19 6.90 ><WIBOR

=>

Note: are for ask

FRA prices

quotes

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(Reporting by Alan Charlish in Warsaw, Krisztina Than in Budapest, Jason Hovet in Prague, editing by Mark Heinrich)

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