By Boldizsar Gyori

BUDAPEST, July 25 (Reuters) -The crown recovered slightly on Thursday after touching a five-month low this week as markets looked to whether the Czech National Bank might slow its easing pace, while a souring global mood caused other central European currencies to mostly drift.

Poland's zloty held on the strong side of the psychological level of 4.30 to the euro despite weakening a touch.

The forint EURHUF=, which along with the crown has been central Europe's worst performer this year, weakened to 394.1 by 0942 GMT. It has lost 0.9% this week after Hungary's central bank cut its policy rate on Tuesday.

ING said the weakening could continue.

"We still believe this is the direction for the days ahead with a landing in the 395-400 range," it said in a note.

The National Bank of Hungary cut its base rate by 25 basis points to 6.75% on Tuesday, delivering its 15th consecutive rate cut, sending the forint down on a weakening path.

Markets will watch the Czech central bank next week to see if the bank will slow the pace of its interest rate cuts like previously signalled.

The Czech crown EURCZK= traded at 25.4, firming after hitting a 5-month high in the previous session at 25.4530.

It fell back after CNB Vice Governor Jan Frait said this week in a Bloomberg interview that another 50-bp rate cut could not be ruled out.

His comments have been tempered by others, including rate setter Tomas Holub who told daily E15 that the bank was nearing a point where a slowdown in the pace of easing was reasonable.

"Markets are starting to take notice of the Czech National Bank's hawkish comments preferring a 25bp rate cut and reducing the chances of a 50bp move," ING said.

In Poland, the zloty EURPLN= was little changed at 4.2985 to the euro, off a three-week low beyond 4.30 hit earlier in the session.

Reporting by Boldizsar Gyori in Budapest; additional reporting by Paweł Florkiewicz; Editing by Bernadette Baum

For related news and prices, click on the codes in brackets:
All emerging market news EMRG CEEU CEE/

Spot FX rates
Eastern Europe spot FX EEFX= Middle East spot FX MEFX=
Asia spot FX ASIAFX= Latin America spot FX LATAMFX=

Other news and reports
World central bank news CEN Economic Data Guide ECONGUIDE
Official rates GLOBAL/INT Emerging Diary EMRG/DIARY
Top events M/DIARY Diaries DIARY Diaries Index IND/DIARY