Edition:
India

Joanna Plucinska

Heightening EU frictions, Poland queries pact on violence against women

30 Jul 2020

WARSAW Poland's highest constitutional court is to scrutinize a European pact on violence against women, the prime minister said on Thursday, after a cabinet member said Warsaw should quit the treaty which the nationalist government considers too liberal.

UPDATE 2-Heightening EU frictions, Poland queries pact on violence against women

30 Jul 2020

WARSAW, July 30 Poland's highest constitutional court is to scrutinize a European pact on violence against women, the prime minister said on Thursday, after a cabinet member said Warsaw should quit the treaty which the nationalist government considers too liberal.

CEE MARKETS-Central European currencies firm on EU fund deal, data

23 Jul 2020

By Joanna Plucinska and Anita Komuves WARSAW, July 23 Central European currencies rose on Thursday while stock markets were mixed as sentiment continued to improve in the region after a landmark European Union deal to help coronavirus-stricken economies. EU leaders agreed on Tuesday after a four-day summit a 750 billion euro coronavirus recovery package, with generous handouts expected for both Poland and Hungary. "This fund will be an investment driver in the medium-term, of course it'll be good for these currencies," Krystian Jaworski, an economist at Credit Agricole said. Currencies in the region were lifted by the risk-on mood in global markets as well as better than expected macroeconomic data, with the Hungarian forint leading gains in the region, up 0.56% on the day at 346.320 against the euro. The National Bank of Hungary cut its base rate by 15 basis points to 0.6% on Tuesday, as expected. Deputy governor Barnabas Virag said last month that July's cut would be as far as the bank would go. The National Bank of Hungary (NBH) has agreed with the European Central Bank (ECB) to set up a repo line arrangement to provide euro liquidity to Hungarian banks to address possible euro liquidity needs amid the COVID-19 pandemic. Romania and Serbia are also among a number of Eastern European countries that secured access to euro liquidity via similar repo or swap lines with the ECB. Elsewhere, The Czech crown rose by 0.4% by 0916 GMT and was trading at 26.265 to the euro. The Polish zloty was up 0.27% at 4.405 versus the common currency. Positive macroeconomic data in Poland contributed to the rise as well, notably industrial output, which showed "the decreasing influence of the COVID-19 epidemic on economic activity," Jaworski added. Unemployment rose to 6.1% in Poland, figures released by the statistics office on Thursday showed. Analysts said that, even though there was a rise, it was slower than expected at the start of the coronavirus pandemic. CEE SNAPSHO AT MARKETS T 1116 CET CURRENC IES Latest Previous Daily Change bid close change in 2020 EURCZK= Czech <EURCZK= 26.2650 26.3690 +0.40 -3.17% crown > % EURHUF= Hungary <EURHUF= 346.320 348.2500 +0.56 -4.38% forint > 0 % EURPLN= Polish <EURPLN= 4.4050 4.4170 +0.27 -3.37% zloty > % EURRON= Romanian <EURRON= 4.8345 4.8375 +0.06 -0.96% leu > % EURHRK= Croatian <EURHRK= 7.5210 7.5223 +0.02 -1.01% kuna > % EURRSD= Serbian <EURRSD= 117.570 117.6500 +0.07 +0.00% dinar > 0 % Note: calculated from 1800 daily CET change Latest Previous Daily Change close change in 2020 .PX Prague 943.17 944.0800 -0.10% -15.46% .BUX Budapest 35724.8 35436.39 +0.81 -22.48% 2 % .WIG20 Warsaw 1831.50 1830.61 +0.05 -14.82% % .BETI Buchares 8591.37 8583.40 +0.09 -13.89% t % .SBITOP Ljubljan <.SBITOP 848.61 855.41 -0.79% -8.34% a > .CRBEX Zagreb 1603.62 1604.78 -0.07% -20.51% .BELEX1 Belgrade <.BELEX1 657.65 657.73 -0.01% -17.97% 5 5> .SOFIX Sofia 438.73 439.71 -0.22% -22.78% Yield Yield Spread Daily (bid) change vs change Bund in Czech spread Republic CZ2YT=R 2-year <CZ2YT=R 0.0680 0.0390 +076b +4bps R R> ps CZ5YT=R 5-year <CZ5YT=R 0.4000 -0.0750 +109b -8bps R R> ps CZ10YT= <CZ10YT= 0.8360 0.0090 +132b +0bps RR 10-year RR> ps Poland PL2YT=R 2-year <PL2YT=R 0.1260 -0.0040 +082b +0bps R R> ps PL5YT=R 5-year <PL5YT=R 0.7570 0.0000 +145b +0bps R R> ps PL10YT= <PL10YT= 1.3300 0.0180 +182b +1bps RR 10-year RR> ps FORWARD 3x6 6x9 9x12 3M interba nk Czech 0.30 0.31 0.33 0.34 Rep <PRIBOR= > Hungary 0.62 0.60 0.59 0.61 Poland 0.20 0.22 0.23 0.25 Note: are for ask FRA prices quotes ********************************************* ***************** (Editing by Emelia Sithole-Matarise)

Analysis: Ambiguous conditions on EU deal set to embolden Hungary and Poland

21 Jul 2020

BUDAPEST/WARSAW The European Union's agreement on a coronavirus recovery fund is likely to embolden nationalist leaders in Poland and Hungary because it sets no mechanism for tying the disbursement of money to democratic norms.

U.S. ambassador says EU criticism of Poland 'overblown'

18 Jul 2020

WARSAW The U.S. ambassador to Poland said the European Union's criticism of Poland's adherence to democracy is "overblown", as Warsaw faces cuts to EU budget funds over its judiciary reforms.

UPDATE 7-Polish conservative Duda re-elected president, deeper EU rifts likely

14 Jul 2020

* Duda pleads for unity in polarised Poland (Adds final result, congratulations from Ursula von der Leyen)

Polens Präsident Duda nach Auszählung fast aller Stimmen wiedergewählt

13 Jul 2020

Warschau Polens Präsident Andrzej Duda ist nach Auszählung fast aller Stimmen für fünf Jahre knapp wiedergewählt worden.

Incumbent Duda extends lead in Polish election cliffhanger

13 Jul 2020

WARSAW Incumbent Andrzej Duda's lead in Poland's presidential election widened further, an updated late poll showed on Monday, a result, which while still uncertain, could have profound implications for Warsaw's relations with the European Union. | Video

Polish presidential challenger vows to end conservative stranglehold

29 Jun 2020

WARSAW Polish presidential challenger Rafal Trzaskowski tried to rally supporters of other opposition candidates to his centrist cause on Monday, vowing to hold the nationalist government to account ahead of what looks set to be a knife-edge run-off vote. | Video

Bus plunges off motorway bridge in Polish capital Warsaw, one dead

25 Jun 2020

WARSAW A municipal bus in the Polish capital Warsaw plunged off a motorway bridge on Thursday, killing one person and injuring 17, authorities said.

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