David Oxley News
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Polish central bankers are uniting to assure investors they will soon stop raising borrowing costs after months of disconnect with markets about the future direction of rates.
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Estonia, which won the European Commission’s backing to become the euro’s 17th member in January, must push through deeper wage cuts to remain competitive or risk seeing its external debt level rise, Capital Economics said.
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Hungarian Prime Minister Viktor Orban ’s decision to reduce the budget deficit through temporary taxes delays the pain of tackling eastern Europe’s highest debt.
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Poland’s central bank will probably reject a motion to raise interest rates for a third straight month as Governor Marek Belka ’s warnings that capital inflows may undermine economic growth outweigh concern about inflation.
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Hungary’s central bank left the benchmark interest rate unchanged today for a second month and urged the government to reveal details of its fiscal plan to help improve the country’s risk assessment.
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Hungary’s central bank may stop raising interest rates as Prime Minister Viktor Orban gets ready to appoint board members more likely to support looser policy, said economists at RBC Capital, Citigroup Inc. and Capital Economics.
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The economies of Estonia, Latvia and Lithuania are recovering from the European Union’s deepest recessions faster than previously estimated as manufacturing picks up and the financial industry improves, Capital Economics said.
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Hungarian Economy Minister Gyorgy Matolcsy says the International Monetary Fund’s decision to suspend talks with the government doesn’t threaten fiscal stability. Investors say he’s wrong.
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Hungary’s new government, which has called on the central bank’s leadership to quit, should give up its “attacks” which are “dangerous” and “prone to fail,” Magyar Nemzeti Bank President Andras Simor said.
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