WARSAW, July 22 (Reuters) - The forint weakened on Wednesday after the Hungarian central bank cut interest rates and signalled further easing in August and beyond, while other central European currencies were largely stable.

Hungary's central bank cut its benchmark interest rate by another 25 basis points to 5.75% on Tuesday, in line with its guidance in June. It also reiterated that there was room for more policy easing. It has cut 75 basis points this year.

"This would imply that a cut in August is still probable and that the MPC is likely to continue its cutting cycle assuming the outlook does not deteriorate," Goldman Sachs said in a note.

"Our own expectation is that further weakness in Hungarian inflation will enable the NBH to continue to cut beyond September, though the recent rise in oil prices and associated HUF weakness are both hawkish developments that increase the probability of the NBH choosing to wait before continuing to cut."

The forint was down 0.5% at 363.70 per euro at 0833 GMT.

"The forint may have briefly weakened because of dovish MPC signals, but relative to peers such as the Polish zloty it holds on to its outperformance since the beginning of the year," Commerzbank analysts said in a note.

It remains the region's best performer this year, increasing in value by 5.7%.

The Polish zloty weakened by 0.07% to 4.3310 per euro, with losses limited by a better-than-expected June retail sales reading.

PKO BP analysts said the main driving factor would, however, remain the situation in the Middle East and its impact on energy prices.

"Until credible signals of de-escalation emerge...there will be a persistent asymmetric risk that the zloty will once again come under pressure after a temporary rebound. In such a scenario, the EUR/PLN could head towards this year's highs near 4.35, while the USD/PLN could set new highs above 3.81."

The Czech crown and the Romanian leu were both stable.

CEE MARKETS SNAPSHOT AT 1033

CET

CURRENCIES Lates Previous Dail Change in

t close y 2025

trade chan

ge

Czech 24.17 24.1950 +0. -0.05%

crown 80 07%

Hungary 363.7 361.8000 -0.5 +5.68%

forint 000 2%

Polish 4.331 4.3280 -0.0 -2.66%

zloty 0 7%

Romanian 5.241 5.2379 -0.0 -2.80%

leu 0 6%

Serbian 117.3 117.3700 +0. +0.00%

dinar 000 06%

Note: daily change calculated from 1800

CET

STOCKS Lates Previous Dail Change in

t close y 2025

chan

ge

Budapest 14320 143889.34 -0.4 +28.98%

8.93 7%

Warsaw 3871. 3851.48 +0. +21.60%

73 53%

BONDS Yield Yield Spre Daily

(bid) change ad change in

vs spread

Bund

Czech Rep 7 8bps

Czech Rep 3 9bps

Czech Rep 8 6bps

Poland 0 2bps

Poland 0 2bps

Poland 0 4bps

FORWARD RATE 3x6 6x9 9x12 3M

AGREEMENTS interbank

Czech Rep 4.12 4.41 4.51 3.85

Poland 3.84 3.96 4.05 3.82

Note: FRA quotes are for ask

prices