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Local Rates Trade Choppily Around CPI; Focus Remains on High Core Figure ~+3.7%

POLAND
  • Polish local rates traded choppily around yesterday's lower than expected CPI print at 2.3% (NBP target 2.5%) as NBP peppers the markets with dovish commentary.
  • However, core CPI remains elevated, leaving little scope for rate cuts next week as is the base case across the sell side.
  • Back end drifting higher but not as aggressively as Hungary.
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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