Crown adheres to the weakest level in a year and a half
The Hungarian forint weakened today by nearly 0.4%, while the afternoon trading at around 297.8 HUF / EUR. In Hungary, was released today by consumer inflation decelerated more than the market consensus expected. The consumer price index for March rose 0.3% m / m (0.5% of the market) and by 2.2% y / y in February after a 2.8% y / y (2.5% of the market). Inflation slows mainly due to the fact that the government has ordered a 10% reduction of energy prices.This inflation was at its lowest level since 1974 and created space for further cuts key interest rate. The next meeting of the Central Bank will be held from 23 April and the market expects lower interest rates by 25 bps to 4.75%. Polish Zloty today is also very successful when the day lost 0.6% and in the afternoon held at around 4.12 PLN / EUR.
Tomorrow, the region will see only the final details of the February Hungarian industrial production. Preliminary data showed the 0.3% monthly increase (-1.1% yoy).
Czech swap yield curve today rose by 1-2 bp along its entire length.
Author: Jana Malíčková
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