Central European Daily

The Central European currencies remained more or less stable throughout the most of the Friday’s session but the zloty and the forint strengthened later in the afternoon. While the zloty ignored lower than expected inflation figures for February – inflation reached 0.7% Y/Y – it bounced back above EUR/PLN 4.23 in early trading today on comments by the NBP president Belka. Mr. Belka reiterated his remarks following the last NBP meeting, when he had indicated that interest rates might remain stable in 2014. However, Belka added that if the economy evolves in line with recent forecasts (regarding GDP growth, he saw an upside risk), central bankers would surely need to think about rate hikes in 2015.