Slovak crown moves in narrow range, awaits cbank

    The Slovak crown drifted in a 
tight range against the euro on Thursday, and dealers expected 
trendless trading to continue before a central bank (NBS) 
monthly policy meeting next week. 
    At 1530 GMT, the crown traded at 34.350 per euro , 
compared with 34.385 late on Wednesday. The unit eased to a 
one-week low of 34.450 on Wednesday on weaker regional mood. 
    "There was little activity. The whole region has calmed 
down," said ING Bank dealer Andrej Zeman. 
    The crown has been locked between 34.200 and 34.450 per euro 
over the past week. 
    Despite Wednesday's drop, the local unit is still up by 2 
percent against the euro so far this month, boosted in part by 
Slovakia's 9.5 percent GDP growth in the fourth quarter of 2006. 
    Analysts said the bank's decision to accept all bids in a 
liquidity-draining repo tender earlier this week signalled it 
was comfortable with the currency's strength. 
    A Reuters survey showed the NBS would keep the key two-week 
repo rate at 4.75 percent for the fifth consecutive month on 
Feb. 27, waiting for more inflation data and further details on 
economic growth before it makes the expected monetary policy 
easing. 
------------------ MARKET SNAPSHOT AT 1530 GMT ----------------- 
Crown/euro  34.350 vs 34.385 on Wednesday 
Crown/dollar   26.195 vs 26.190 
5-yr govt bond  yield 4.300/4.100 vs 4.308/4.087 pct 
7-yr govt bond  yield 4.270/4.168 vs 4.675/4.155 pct 
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[BRATISLAVA/Reuters/Finance.cz]