 Hungarys forint fellfurther, underperforming other currencies in the region after asurprise rate cut sent it to a one-month low, while marketsfocused on Wednesdays rate meeting in Prague. The National Bank of Hungary followed rate cuts in Poland,Romania and the Czech Republic to help their economies hammeredby the coronavirus crisis. Czech rates have dropped by 200 basis points since March,the most among European Union countries, and the crownwas down 0.23 ahead of a central bank CNB meeting, but heldwithin a range seen throughout June. The CNB is expected to keep interest rates on hold until atleast the second half of 2021, a Reuters poll of analystsshowed. With its main repo rate at 0.25, questionshave risen if the CNB could resort to unconventional policytools like currency interventions or quantitative easing. We do not expect the CNB to use non-standard tools in theforeseeable future, JT Banka said in a note. The Hungarian forint fell 0.5 to 350.820 versusthe euro after the NBH unexpectedly cut its base rate by 15 basis points to 0.75 on Tuesday. The FX market had only a brief, mild reaction to the ratecut, Commerzbank said in a note. But, this does not mean thatthe forint will not be impacted over a period of time. The bank called the cut a one-off, and said a reduction inthe one-week deposit facility was justified. In April, the NBH introduced a one-week deposit facility at0.9, which helped stabilise the forint, and deployed abond-buying programme to push yields down. The central bank has moved away from its past liquiditymanagement system where it steered excess liquidity and is nowmoving back to a more orthodox interest rate-setting monetarysystem, Morgan Stanley said in a note. The Polish central bank offered to buy bonds worth 12billion zlotys as part of its QE programme. Regional stocks weakened on the latest rise in newcoronavirus infections globally. Warsaw equities ledlosses and were down 1 by 0814 GMT. CEE SNAPSHO AT MARKETS T 1014 CET CURRENC IES Latest Previou Daily Change s bid close change in 2020 EURCZK Czech EURHUF Hungary 0 0 EURPLN Polish EURRON Romanian EURHRK Croatian EURRSD Serbian 0 0 Note: calcula 1800 daily ted CET change from STOCKS Latest Previou Daily Change s close change in 2020 .PX Prague 929.14 933.250 -0.44 -16.72 0 .BUX Budapest 37586.0 37595.8 -0.03 -18.44 3 3 .WIG20 Warsaw .WIG20 1807.11 1825.99 -1.03 -15.95 .BETI Buchares 8726.26 8707.79 0.21 -12.54 t .SBITO Ljubljan .SBITO 857.74 859.67 -0.22 -7.36 P a P .CRBEX Zagreb .CRBEX 1625.15 1630.96 -0.36 -19.44 .BELEX Belgrade .BELEX 666.95 670.87 -0.58 -16.81 15 15 .SOFIX Sofia .SOFIX 455.59 455.12 0.10 -19.81 BONDS Yield Yield Spread Daily bid change vs Bund change in Czech spread Republic CZ2YT 2-year s CZ5YT 5-year s CZ10YT s Poland PL2YT 2-year s PL5YT 5-year s PL10YT s FRA 3x6 6x9 9x12 3M interba nk Czech Hungary Poland Note: FRA quotes are for ask prices Additional reporting by Alan Charlish in Warsaw; Editing by Alexander Smith 