Peter Laca

Prague

Editor at BQ Prime

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Articles

ING Sees Potential Carry-Trade Boost Ahead for EM Currencies

2 weeks ago | bloomberg.com | Peter Laca

(Bloomberg) -- Emerging-market currencies are benefiting from a weaker dollar and they may get a further boost if the US cuts interest rates, attracting more capital into carry trades, according to ING Bank NV. Investors are speculating whether US trade deals with Asia will involve a currency element, and Latin American economies seem to have avoided the worst of President Donald Trump’s tariffs, Chris Turner, ING’s head of FX strategy in London, and colleagues said in a note on Tuesday.
Romania Budget Woes Put Brakes on Post-Election Market Rally

2 weeks ago | bloomberg.com | Andra Timu |Peter Laca

A supporter holds a poster of Nicusor Dan in Bucharest, Romania, on May 18. (Bloomberg) -- Romania’s assets rallied after a centrist candidate defeated his nationalist opponent in the presidential election, but further market relief may be limited until the next government presents a plan to fix state finances.
Emerging FX Jumps as Moody’s Downgrade Undermines the Dollar

2 weeks ago | bloomberg.com | Maria Elena Vizcaino |Peter Laca |Subhadip Sircar

A supporter waves a Romanian flag outside the campaign headquarters of Nicusor Dan. Photographer: Alexandra Corcode/Bloomberg(Bloomberg) -- An index for emerging-market currencies advanced on Monday as the greenback fell following Moody’s Ratings downgrade of US government debt, while lawmakers in Washington debated more tax cuts. Eastern and Central European currencies led the gains, propelled by a stronger euro as traders looked to move cash out of US assets.
Czech Rate Setters Backed ‘Moderately Restrictive’ Stance in May

3 weeks ago | bloomberg.com | Peter Laca

The Czech central bank headquarters in Prague. (Bloomberg) -- Czech central bankers agreed monetary policy needed to remain “moderately restrictive” to address persistent domestic price pressures and uncertain global economic outlook, minutes from the May 7 meeting showed. The debate, which preceded a quarter-point rate cut to 3.5%, indicated easing concerns among some board members over continued growth in services costs, the bank said on Friday.
Romanian Election Brings Junk-Level Risks for Bond Investors

3 weeks ago | bloomberg.com | Peter Laca |Andra Timu

Campaign posters for presidential candidates in Bucharest. (Bloomberg) -- Investors are treating Romania’s eurobonds on par with junk-rated debt after months of political turmoil, and now the weekend’s presidential ballot brings fresh risks for the currency and local debt as well. The victory of ultranationalist George Simion in the first round triggered the resignation of the prime minister, sparked outflows from bonds and stocks and pushed the currency to a record low.
Romania Raises €1.6 Billion in Local Debt Before Tight Vote

3 weeks ago | bloomberg.com | Peter Laca |Irina Vilcu

Campaign posters for presidential candidates in Bucharest. (Bloomberg) -- Romania sold more euro-denominated debt on the domestic market than planned, rushing to fill up state coffers ahead of a contentious presidential run-off that’s weighed on the the country’s assets. The Finance Ministry raised a combined €1.6 billion ($1.8 billion) in notes maturing in May and December next year, accepting almost all bids submitted in Tuesday’s auction.
Czech Central Bank Says Services Costs Call for Cautious Policy

3 weeks ago | bloomberg.com | Peter Laca

Ales Michl(Bloomberg) -- Czech costs of services remain a key risk for price stability and require a cautious monetary-policy stance, according to the central bank. Data published on Tuesday showed that core inflation, a measure of underlying demand pressures in the domestic economy, accelerated slightly in April to 2.6%, matching the Czech National Bank’s forecast.
Romanian Bond Sale Lures Investors After Yield Jump as Leu Gains

3 weeks ago | bloomberg.com | Peter Laca |Irina Vilcu

The parliament building in Bucharest. (Bloomberg) -- Romania managed to attract solid demand in a domestic bond sale but the funding came at an increased price as political risks before the presidential run-off continued to weigh on investors’ perception. The Black Sea nation sold 540 million lei ($118 million) of one-year bonds at an auction on Monday, with the average yield rising by about 1.5 percentage points to 8.45% compared with the previous reopening of the note last month.
Czechs Cut Rate With Focus Shifting to Signals on Halt to Easing

1 month ago | financialpost.com | Peter Laca |Krystof Chamonikolas

Advertisement 1Czech policymakers cut interest rates after inflation slowed more than expected, with investors now potentially facing a lengthy pause in easing due to persistent price pressures and global trade risks. Article content(Bloomberg) — Czech policymakers cut interest rates after inflation slowed more than expected, with investors now potentially facing a lengthy pause in easing due to persistent price pressures and global trade risks.
Czechs Say Room for More Easing Limited After Cautious Rate Cut

1 month ago | bloomberg.com | Peter Laca |Krystof Chamonikolas

The Old Town Square in Prague. (Bloomberg) -- The Czech central bank said inflation risks limited room for further monetary easing as policymakers debated whether their latest “cautious” interest rate cut was the final move for now. Rate setters in Prague lowered the benchmark by a quarter of a percentage point to 3.5% on Wednesday, taking it to the lowest level since 2021 and in line with the expectations of most analysts in a Bloomberg survey.

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