Europe: Central European currencies buoyant

From: Global Finance | Date: February 1, 2003| Author: | Copyright information

Central European currencies are on a structural appreciation course that will accelerate over the next few years, analysts forecast. "While Central European policymakers tend to talk their currencies down, this is only delaying the inevitable," says Thomas Browne, currency strategist at Deutsche Bank in London.

Foreign investors have consistently found assets in Central Europe to be cheap, Browne says. They can produce the same output for a lower cost than in Western Europe, and this has been the driver of foreign direct investment, he adds.

Deutsche Bank forecasts that the returns from ...

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