CEE MARKETS-Forint eases after central bank-driven rally, zloty stable

WARSAW, Sept 23 (Reuters) - The Hungarian forint gave up some ground on Wednesday after hitting its highest level for September in the previous session, with gains initially supported by the central bank's decision to keep interest rates unchanged and raise its inflation forecasts.

Hungary's central bank raised its inflation forecast for 2027 to 3.1% from its previous outlook of 2.3% and said energy prices and an excise tax hike on tobacco would boost price growth next year.

Markets had put some focus on next year's outlook for price dynamics to gauge the chances of further cuts ahead or an end to the easing cycle in the summer months.

"Following the decision, the HUF initially rose accordingly, but then gave up its gains as the euro weakened against the USD," Commerzbank analysts said in a note.

The forint was 0.18% weaker against the euro at 363.35 at 0811 GMT on Wednesday.

The Polish zloty was 0.08% firmer at 4.3475, with analysts saying the exchange rate remains driven by global factors such as talks between the US and Iran during the UN General Assembly regarding the end of their conflict.

"In our opinion, the EUR/PLN exchange rate should remain around 4.35, especially as the room for further decline of the euro-dollar is running out," Bank Millennium analysts wrote in their daily commentary.

The main event of the day in Poland will be an auction of Polish bonds worth 7-12 billion zlotys ($4.99 billion).

The Czech crown was flat at 24.35.

($1 = 3.8075 zlotys)