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Core Inflation Surpasses Estimates at 3.7% Y/Y & 0.4% M/M

POLAND
  • POLAND JULY NET CORE INFLATION RISES 0.4% M/M; EST. +0.3%
  • POLAND JULY NET CORE INFLATION RISES 3.7% Y/Y; EST. +3.6%
  • Core inflation continues to print above expectations in Poland, bringing their ultra-easy policy stance into question
  • Current sell-side estimates still have the first hikes pencilled in for November this year
  • policy divergences in CEE becoming clearer as the NBP continues to support the recovery with loose policy while the Czech Republic & Hungary continue to tighten
  • Little reaction observed in EUR/PLN or USD/PLN following the print
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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