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PLN: EUR/PLN Close to Erasing Glapinski Presser Move as Kotecki Weighs In

PLN
PolandCEEMEAEM BulletBulletEmerging Market News

Polish MPC member Kotecki says he still sees March as the first moment for rate cut talk in Poland, and that Glapinski's shift may be politically motivated. He adds that the governor's outlook on rates is not the MPC's stance. 

  • Kotecki seemingly pushing back on Glapinski's communication of a likely delay to rate cuts next year, having previously noted March, the NBP head said markets may have to wait until October yesterday.
  • The pushback against Glapinski is working in favour of EUR/PLN here, which returns to positive territory. A rally above 4.2750 is needed to fully reverse the move triggered in yesterday's press conference.
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Polish MPC member Kotecki says he still sees March as the first moment for rate cut talk in Poland, and that Glapinski's shift may be politically motivated. He adds that the governor's outlook on rates is not the MPC's stance. 

  • Kotecki seemingly pushing back on Glapinski's communication of a likely delay to rate cuts next year, having previously noted March, the NBP head said markets may have to wait until October yesterday.
  • The pushback against Glapinski is working in favour of EUR/PLN here, which returns to positive territory. A rally above 4.2750 is needed to fully reverse the move triggered in yesterday's press conference.