By Ewa Krukowska
Dec. 4 (Bloomberg) -- Merrill Lynch & Co. cut its growth and currency forecasts for Poland, Hungary and the Czech Republic because of the global economic slowdown.
Merrill said it expected Polish economic growth to slow to 1.8 percent next year from an expected 4.9 percent this year and saw Czech growth easing to 2.1 percent from 4.4 percent, according to a research note published today. Hungary’s economy will shrink by 2 percent next year after growing 1.1 percent this year, the bank predicted.
The Polish zloty will weaken to 4.25 against the euro in June, the Hungarian forint will depreciate to 305 per euro and the Czech koruna will fall to 26.5 versus the euro, Merrill predicted.
The Russian ruble will fall to 32.68 against the dollar and the Turkish lira will drop to 1.87 per dollar, according to the report.
To contact the reporter on this story: Ewa Krukowska in Warsaw at ekrukowska@bloomberg.net
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