Jodie Turner-Smith was sure to turn heads as she rocked a striking chevron-print dress at the After Yang photocall during Cannes Film Festival on Thursday.
Romania’s leu held steady, at 4.927 per euro, a day after the country’s central bank left rates unchanged, too, but said it was assessing a timeline for a return to policy normalisation. Both the Czech and Hungarian central banks jumped ahead of others in the European Union last month to begin raising interest rates amid strong inflationary pressures. PRAGUE, July 8 (Reuters) — The Czech crown and Hungarian forint fell to around two-month lows on Thursday amid a risk-off retreat in markets, failing to capitalise on data bolstering a case for more rate hikes in those countries.
In Poland, the zloty slipped 0.1% before a central bank meeting expected to leave interest rates unchanged. Polish and Romanian rate setters have so far resisted.
The Hungarian inflation data, along with strong May retail sales figures in the Czech Republic published on Thursday, backed expectations of more hikes in both countries — which should provide some resistance to further currency weakening. The forint fell 0.3% to 358.35 to the euro and the crown eased 0.2% to 25.83. Despite this, currencies slipped on Thursday in the global risk-off move on expectations U.S.
policymakers are moving toward tapering asset purchases as soon as this year. Central Europe is facing strong inflationary pressures as economies come out of the COVID-19 pandemic and recover this year.
Hungary’s headline inflation rate hit its highest level since 2012 in June, data showed on Thursday. A Prague dealer said the crown might be hitting the bottom of its retreat seen so far in July. In an interview published on Sunday, Governor Adam Glapinski said demand-driven inflation that would require a response from the central bank could appear in autumn at the earliest.
Polish bond yields were lower before the meeting. Some analysts have said Poland could soon turn hawkish. Markets will be looking for Заказать препарат для зрения signs of when the bank could start normalising policy. Warsaw blue chips led losses, falling 1.2%. CEE SNAPSHO AT MARKETS T 1052 CET CURRENC IES Latest Previou Daily Change s bid close change in 2021 EURCZK Czech EURHUF Hungary 0 0 EURPLN Polish EURRON Romanian EURHRK Croatian EURRSD Serbian 0 0 Note: calcula 1800 daily ted CET change from STOCKS Latest Previou Daily Change s close change in 2021 .PX Prague 1155.55 1157.91 -0.20% +12.50 00 % .BUX Budapest 47407.0 47574.3 -0.35% +12.59 7 7 % .WIG20 Warsaw % .BETI Buchares 11884.8 11933.7 -0.41% +21.20 t 2 4 % .SBITO Ljubljan % .CRBEX Zagreb % .BELEX Belgrade .SOFIX Sofia % BONDS Yield Yield Spread Daily (bid) change vs Bund change in Czech spread Republic CZ2YT= 2-year s CZ5YT= 5-year s CZ10YT s Poland PL2YT= 2-year s PL5YT= 5-year s PL10YT s FRA 3×6 6×9 9×12 3M interba nk Czech Hungary Poland Note: FRA quotes are for ask prices *********************************** *************************** (Reporting by Alan Charlish in Warsaw, Anita Komuves in Budapest and Jason Hovet in Prague Editing by Mark Heinrich)
«I would expect it will not be too easy to (move weaker),» the dealer said.
Eyes in the region were turning to Poland’s central bank, as well as the European Central Bank, which is set to release a strategy update that could see it allow for higher inflation. Stock markets were also weaker after a dip in global shares.
‘I do think when [the director] met him, it really left an impression. The show was developed amidst the pandemic, so we were honored to be the first episode they shot,’ Tabish said.
The pace of economic recovery from the COVID-19 pandemic and its impact on inflation and central bank policymaking continues to drive markets, with the U.S.
Federal Reserve overnight signalling no immediate plans to raise rates.
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