CEE currencies little weakened after low PMIs
CNB does not plan monetary tightening before PPI rises
In spite of poor PMIs reported in the Czech Republic, Hungary and Poland, Central European currencies did not lose significantly. Polish manufacturing contracted for the second time in August and although the Czech PMI still remained above 50, its result, 54.3, lagged behind the market consensus. It is obvious that regional sentiment suffers of the dragging Russo-Ukrainian conflict and accompanying trade restrictions.
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