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FRA 6M x 9M Approaching 8%

POLAND

LOCAL NEWS

  • Poland, which has been helping Ukraine with fuel supplies since the start of the war, is ready to boost the deliveries to the neighboring country, Polish Climate Minister Anna Moskwa says at a press conference in Warsaw (BBG).
  • NBP member Kotecki said in an interview recently that Poland needs further monetary tightening and that the 25bps ‘portion of the hike’ that was not implemented last week (75bps hike vs. 100bps expected) will likely be shifted to the following meetings.
  • The NBP published in its minutes from the April’s meeting that CPI is expected to remain ‘markedly elevated’ in 2022 and that it should keep raising interest rates to curb CPI.
  • Market participants keep repricing the terminal rate to the upside; FRA 6Mx9M is currently trading at 7.89%, up from 6% in the beginning of April.

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