FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Better Communication Over Policy Outlook Could Stabilize PLN

POLAND
  • NBP Governor Glapinski mentioned during his press conference yesterday that the central bank can safely rise interest rate up to 4% if growth remains strong.
  • Glapinski mentioned that the NBP never felt any pressure from the government to hike interest rates even though several former policymakers have criticized the central bank's late response to the surge in inflation.
  • He added that the NBP should maintain the current pace with 50bps monthly hikes, and currently favors at least one more rate hike.
  • Policymakers at the NBP seem to have understood that the uncertainty over the central bank's policy outlook had weighed on the PLN in the end of 2021, which keeps supporting inflation expectations.
  • By addressing a 'clearer communication' on its policy outlook, the NBP could benefit from a strengthening PLN (relative to Euro) due to the monetary policy divergence (with ECB), which could help anchor inflation expectations.
  • Next important data to watch will be December inflation coming out on January 7, with CPI expected to accelerate to 8.2% YoY.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

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.