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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
POLAND
- 2Y10Y yield curve is now inverted amid the sharp upside consolidation in ST rates, increasing recession risk (see chart).
- Yesterday, NBP member Cezary Kochalski mentioned in an interview (Biznes24) that inflation is expected to peak in Q1 2022 at 7%/8% before starting to edge lower.
- On Tuesday, NBP member Rafal Sura said that NBP may need to rise its policy rate above 1.5% to combat inflation.
- The NBP board has clearly sounded more 'hawkish' lately and the central bank is likely to continue its tightening cycle at the next meeting next month; the magnitude of the hike will strongly depend on November CPI print (coming out on Nov 30).
- Next economic data to watch will be Q3 GDP estimate coming out on November 12, expected to decelerate to 4.8% YoY (from 11.2% the previous quarter).
Source: Bloomberg/MNI
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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