Zloty gains <0.1% to 4.1897/EUR, +0.8% QTD, best performance among Europe’s EM currencies. * Ylds on 5-yr govt bonds rise 2bps to 3.62%, increasing 1st day in 3 * Oct. Core CPI probably rose to 1.4% y/y from 1.3% in Sept.: Bloomberg survey of 30 economists; data release at 2pm local * Recommend Long PLN/EUR and long PLN/HUF as Polish central bank prefers to remain in ‘wait and see mode’ while monitoring the economic recovery path, whereas Hungarian central bank takes opportunity to deliver further monetary loosening when inflation is surprising on the downside, Daniel Hewitt, EM economist at Barclays, writes in note dated Nov. 14 * NOTE: 3Q GDP rose 1.9% y/y yday, highest since 2Q 2012, beating 1.6% Y/y median of 36 est. in Bloomberg survey * NOTE: Oct. CPI slowed to 0.8% y/y yday from 1% y/y in Sept. less than 1% y/y estimate in survey
Karnit Flug will probably wait before lowering Israel’s benchmark interest rate again to weaken the shekel, leaving borrowing costs unchanged today in her first meeting as central bank chief, a survey of economist showed.
The Czech Social Democrats sank into internal bickering before talks to form a government as they stake a return to power on a billionaire-backed party that opposes their key policy plan to increase taxes.