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Government To Cap Heating Price Hike At 40%

POLAND
  • Last week, Climate Minister Moskwa said at press conference that Poland will introduce a new law that will cap district heating price increase at 40%.
  • NBP Kotecki mentioned in a recent interview that the central bank’s communication is a ‘problem’ and thinks that the NBP underestimated the risks of inflation.
  • Kotecki added that measures introduced by the government will increase inflation and reiterated that the PLN is currently undervalued.
  • USDPLN has been finding support at the 4.5860 level, which corresponds to the 61.8% Fibo retracement of the 4.1490 – 4.5860 range. ST resistance to watch on the topside stands at 4.6890 (76.4% Fibo). On the downside, support to watch below 4.5860 stands at 4.5430 (50DMA).
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