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Kotecki Voices Frustration With This Week’s NBP Policy Move

POLAND
  • Following the MPC decision this week, NBP’s Kotecki has voiced his opposition to the unchanged decision, claiming that the lack of a rate hike this week “looks like surrender” and that he now sees a very high risk of the PLN weakening.
  • In his post-rate decision press conference yesterday, NBP’s Glapinski stated the bank favours PLN strength going forward, and expects CPI to slow to single figures in Q4 of next year. Full NBP review including summary of sell-side views here: https://roar-assets-auto.rbl.ms/documents/20153/NB...
  • Polish markets are closed for the duration on Friday due to Independence Day.

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