It was a dull session in CE forex and fixed-income markets yesterday as traders lacked both domestic and external market movers. While CE currencies were only little changed, Hungarian and Polish government bonds were at least able to slightly extend their previous gains. It seems that also in Central Europe markets are counting down to the next week´s key Fed meeting... This afternoon, August inflation readings in Poland will claim some (regional) market attention. Our model predicts that Poland’s inflation stagnated at 1.1 % y/y in August, following a surprising rise in July. Month-on-month prices likely fell by 0.3 %. While growing housing costs (they went up by 1.5 %, in spite of declining electricity prices) were the main reason for the July price rise and helped to keep inflation above 1 %, in August their role was replaced by food and soft drinks (where we predict a price fall by a mere 1.1 %, instead of seasonally usual -1.4%). Inflation was probably also influenced by growing oil prices not fully compensated by parallel zloty´s appreciation against the dollar.