Central European currencies saw a mixed trading on Tuesday. The Czech koruna underperformed its peers and drifted a bit closer to our short-term target at EUR/CZK 26.115. Regarding regional events, whereas the Hungarian inflation for May suggested that the central bank may keep rates unchanged, the member of the Czech National Bank’s board - Lubomir Lizal - said he perceived current risks as antiinflationary (mainly due to weak domestic demand). In other words, he seems to be disposed to join governor Singer and both vice-governors (Hampl and Tomsik) and vote for the rate cut at the next meeting (06/28) which means that the vote would pass (our base scenario).