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Core CPI Rose To 3.9% (As Expected) In March

POLAND
  • As expected, core CPI rose to 3.9% in March, up from 3.7% in February, diverging from the 3.5% NBP upper tolerance band.
  • However, NBP policymakers have mentioned several times that the surge in inflation is expected to be only 'temporary' and that inflationary pressures should ease in the second half of 2021.
  • The 10Y ticked slightly higher today after finding its low at 1.44% yesterday and currently trades below its 50D SMA at 1.47%.
  • USDPLN is merely unchanged and continues to trade slightly below 3.80. Low of the day: 3.7883.

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