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Europe: Central European currencies buoyant
- Article from:
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Global Finance
- Article date:
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February 1, 2003
- Author:
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Copyright informationCopyright Global Finance Media Inc. Feb 2003. Provided by ProQuest LLC. (Hide copyright information)
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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 Central European currency exposure will range between 9% and 13% per year over the next three years.The ...