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Free AccessInflation Expected To Accelerate To 7.3% in November
- On Friday, NBP policymaker Hardt mentioned in an interview that a stronger PLN could help to fight inflation in Poland, which may top 7% in November.
- According to Governor Glapinski, inflationary pressures are expected to remain elevated until January 2022, with some sell side firms expecting CPI inflation to peak at 8%.
- Selling pressures on PLN have been elevated in November amid worsening economic outlook.
- Demand for the US Dollar seems to be very strong as preference for 'safe' assets has been constantly rising due to the Covid uncertainty.
- A December hike is very likely; however, the magnitude of the hike will depend strongly on inflation data coming out on November 30.
- Market is expecting CPI inflation to accelerate to 7.3% YoY in November.
- Earlier this morning, NBP policymaker Eryk Lon wrote in an article that it is worth considering keeping rates unchanged at the December meeting (Dec 8).
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.