Slovak crown erases early losses, eyes c.bank

    BRATISLAVA, Oct 24 (Reuters) - The Slovak crown recovered on 
Tuesday from early losses against the euro, and dealers said the 
unit would probably float in a range ahead of the central bank's 
policy meeting next week. 
    The crown eased early in the session along with neighbouring 
currencies as investors cut exposure ahead of the Federal 
Reserve's Wednesday rate decision. The unit rebounded later on 
following a 25 basis-point interest rate hike in Hungary. 
    At 1500 GMT, the crown traded at 36.560 per euro bid 
<EURSKK=>, compared with 36.590 late on Monday and last week's 
all-time high of 36.490. 
    Traders said the unit was likely to move in a corridor of 
36.500-36.700 in the short term as players await the outcome of 
the Slovak central bank's rate-setting meeting on October 31. 
    "There is a mixed interest to buy and sell crowns at these 
levels. It is not clear if the central bank hikes interest rates 
this month or not," said Tatra Banka dealer Boris Somorovsky. 
    Majority of analysts polled by Reuters on Tuesday predicted 
the central bank would hike the key two-week repo rate by 25 
basis points from 4.75 percent next week to curb inflationary 
risks that could endanger the planned euro adoption in 2009. 
    Some analysts said the bank may tighten its policy later 
this year due to the steady strengthening of the crown. 
----------------MARKET SNAPSHOT AT 1500 GMT------------------- 
Crown/Euro <EURSKK=> 36.560 vs 36.590 on Monday (+0.07 pct) 
Crown/Dollar <SKK=>  29.149 vs 29.015 (-0.44 pct) 
5-yr govt bond <SK5YT=RR> yield 4.601/4.399 vs 4.602/4.336 
8-yr govt bond <SK9YT=RR> yield 4.602/4.402 vs 4.542/4.341 
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  ((Reporting by Martin Santa; editing by David 
Christian-Edwards; Reuters Messaging: 
martin.santa.reuters.com@reuters.net; +421 5341 8402)) 
  Keywords: MARKETS SLOVAKIA CROWN CLOSE