WARSAW, Oct 26 (Reuters) - The crown slipped further to a more than 15-month low on Thursday, going into a Czech central bank meeting next week that could deliver an interest rate cut, while the forint and zloty firmed as markets await core market data. Markets see chances the Czech National Bank (CNB) will begin an easing cycle, following peers in Hungary and Poland, when it meets in a week. "There is uncertainty in the market," Generali Investments CEE economist Radomir Jac said. "There is a good chance that the CNB may start cutting rates and the market can be a bit nervous, although it is quite clear that the Czech central bank would be cutting rates in small steps, i.e., at a much slower pace than in Hungary and Poland." Policymaker Tomas Holub told Reuters on Wednesday that central bankers faced a dilemma whether to start easing this year or wait for indications of price markups in January and then possibly cut faster. "The crown is a bit nervous. (Central banker) comments are not clear so it keeps CZK weak nowadays," a trader said. By 0943 GMT, the crown was down 0.1% at 24.72 per euro, off a low of 24.738. Meanwhile, the Hungarian forint firmed 0.4% to 383.40, staying parked off an eight-week high hit this week. "Lacking domestic data, the forint is moved by international events, i.e. whether the 10-year U.S. bond yield breaks through the 5% (level) today, which would strengthen the dollar, thus weakening the forint," a Budapest-based trader said. "Another event investors will closely watch is the ECB's (European Central Bank) rate decision, which is widely expected to be a hold." On stock markets, shares in the biggest Hungarian bank, OTP , corrected 1% on Thursday after rallying on Wednesday following news the government was launching a new subsidised housing loan for families. Elsewhere, the Polish zloty firmed 0.2% to 4.468, with some analysts saying U.S. GDP data later could give a fresh impulse, with the currency gradually easing since a post-election bounce in mid-October. CEE SNAPSHOT AT MARKETS 1143 CET CURRENCI ES Latest Previous Daily Change bid close change in 2023 Czech 24.7200 24.7080 -0.05% -2.27% crown Hungary 383.4000 384.9000 +0.39% +4.18% forint Polish 4.4680 4.4780 +0.22% +4.96% zloty Romanian 4.9633 4.9602 -0.06% -0.42% leu Serbian 117.0400 117.1400 +0.09% +0.22% dinar Note: calculated from 1800 CET daily change Latest Previous Daily Change close change in 2023 Prague 1344.15 1345.670 -0.11% +11.85% 0 Budapest 56668.76 56909.30 -0.42% +29.40% Warsaw 2103.39 2096.22 +0.34% +17.38% Bucharest 14197.96 14211.21 -0.09% +21.73% Spread Daily vs Bund change in Czech spread Republic 2-year5-year 10-year Poland 2-year 5-year 10-year FORWARD 3x6 6x9 9x12 3M interban k Czech Rep < 6.48 5.55 4.63 7.03 PRIBOR=> Hungary < 10.17 9.09 8.11 11.49 BUBOR=> Poland < 5.35 4.96 4.73 5.67 WIBOR=> Note: FRA are for ask prices quotes ************************************************** ************ (Reporting by Karol Badohal in Warsaw, Jason Hovet in Prague and Boldizsar Gyori in Budapest; Editing by Sohini Goswami)
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Stocks mentioned in the article
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24.68 EUR | 0.00% | +3.09% | 41.03B | ||
0.6132 EUR | +0.14% | +0.07% | - | ||
1.163 EUR | -0.02% | +0.05% | - | ||
0.0111 EUR | -0.03% | 0.00% | - | ||
0.012 USD | +0.03% | 0.00% | - | ||
0.7328 USD | +0.06% | +0.65% | - | ||
0.6048 USD | +0.10% | +0.87% | - | ||
0.6771 EUR | -0.03% | -0.04% | - | ||
1.082 USD | +0.09% | +0.68% | - | ||
356.2 HUF | -0.09% | -1.52% | - | ||
385.5 HUF | -0.03% | -0.87% | - | ||
1.259 USD | +0.07% | +0.73% | - | ||
0.9239 EUR | -0.09% | -0.69% | - | ||
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