BUCHAREST, June 16 (Reuters) - The Polish zloty edged higher against the euro on Tuesday ahead of a central bank meeting expected to leave interest rates untouched, while central European stocks firmed after the U.S. Federal Reserve launched a corporate bond buying programme. By 0850 GMT, the zloty traded 0.2% higher versus the euro at 4.4260. Poland unexpectedly cut interest rates to almost zero in May to support an economy affected by the COVID-19 pandemic. Analysts were expecting policymakers to keep the benchmark interest rate at 0.1% on Tuesday. "We cannot see any reason why the central bank would need to urgently do more, unless of course, there were to be a second shock down the road," Commerzbank said in a daily note. "Now Poland has a seriously negative real interest rate and we expect the zloty to underperform peers over the coming year." Elsewhere in the region, the Czech crown was up 0.6%. On Monday, central bank governor Jiri Rusnok said cutting interest rates further from already low levels could undermine the income and stability of the financial sector. Central banks across the region have cut their benchmark rates and enforced further measures to shore up economic activity damaged by restrictions and closures aimed at curbing the coronavirus outbreak. The Hungarian forint was up 0.6% versus the euro while the Romanian leu was flat. Stocks recovered earlier losses driven by a resurgence in coronavirus cases and concerns over a sluggish economic recovery from the pandemic, with Warsaw's bluechip up 2.6% on the day. Prague's rose 2.3%, Budapest's gained 1.8% and Bucharest's advanced 1.3%. CEE SNAPSHO AT MARKETS T 1050 CET CURRENC IES Latest Previou Daily Change s bid close change in 2020 Czech <EURCZK 26.5770 26.7450 +0.63% -4.31% crown => Hungary <EURHUF 345.800 347.770 +0.57% -4.24% forint => 0 0 Polish <EURPLN 4.4260 4.4343 +0.19% -3.83% zloty => Romanian <EURRON 4.8350 4.8330 -0.04% -0.97% leu => Croatian <EURHRK 7.5530 7.5585 +0.07% -1.42% kuna => Serbian <EURRSD 117.530 117.590 +0.05% +0.03% dinar => 0 0 Note: calculated from 1800 daily CET change Latest Previou Daily Change s close change in 2020 Prague 944.53 923.200 +2.31% -15.34% 0 Budapest 37991.6 37340.8 +1.74% -17.56% 1 4 Warsaw <.WIG20 1786.59 1741.47 +2.59% -16.91% > Buchares 8641.57 8532.77 +1.28% -13.39% t Ljubljan <.SBITO 861.19 859.47 +0.20% -6.98% a P> Zagreb <.CRBEX 1648.33 1644.27 +0.25% -18.30% > Belgrade <.BELEX 676.66 677.39 -0.11% -15.60% 15> Sofia <.SOFIX 460.07 458.81 +0.27% -19.02% > Yield Yield Spread Daily (bid) change vs Bund change in Czech spread Republic 2-year <CZ2YT= 0.1490 0.0000 +079bp -1bps RR> s 5-year <CZ5YT= 0.4560 0.0350 +109bp +2bps RR> s <CZ10YT 0.9360 0.0520 +136bp +4bps 10-year =RR> s Poland 2-year <PL2YT= 0.2340 -0.0030 +088bp -1bps RR> s 5-year <PL5YT= 0.7910 -0.0560 +143bp -7bps RR> s <PL10YT 1.3560 0.0050 +178bp -1bps 10-year =RR> s FORWARD 3x6 6x9 9x12 3M interba nk Czech <CZKFRA 0.30 0.34 0.39 0.34 Rep ><PRIBO R=> Hungary <HUFFRA 0.78 0.70 0.66 0.90 ><BUBOR => Poland <PLNFRA 0.24 0.24 0.26 0.27 ><WIBOR => Note: are for ask FRA prices quotes ******************************************** ****************** (Reporting by Luiza Ilie in Bucharest, Anita Komuves in Budapest and Alan Charlish in Warsaw; Editing by Krishna Chandra Eluri)
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