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CPI In Decline; Glapinski to Produce 2021 Outlook

POLAND
  • EUR/PLN continues to trade with a choppy, upside bias following this week's NBP.
  • 4.5414 support trapping spot in a range between 4.5525, awaiting fresh catalysts.
  • NBP will be happy with current levels .
  • CPI printed marginally above expectations at 2.4%, but disinflationary trajectory still remains intact, which should help support inflows into Polish GBs.
  • Focus today on Glapinski's speech at 1500 for signs of a robust recovery and contained deficit <10%, provided the vaccine rollout goes smoothly.
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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