CEE MARKETS-Polish bank stocks extend losses, reeling from surprise rate cut
May 29, 2020 at 05:29 AM EDT
Central European stocks eased amid increasing U.S.-China tensions, with Polish bank shares extending losses after the central bank unexpectedly cut interest rates for a third time on Thursday in a bid to help the coronavirus-hit economy. The surprise 40-basis-point cut in the key rate to 0.1% drove down bond yields and Polish bank shares. However, the zloty held up and was steady at 4.4469 to the euro at 0820 GMT on Friday. Sto