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Minimum Wage Hike Carries Inflationary Risks


  • MBank Research mentioned in a Tweet that the decision by Poland’s government to increase the minimum monthly wage to 3,490 zloty as of January, and further to 3,600 zloty as of July, constitutes a “substantial risk” for inflation next year (BBG).
  • Ruling party PiS leader Kaczynski said in a meeting that Poland wants state banks to offer ‘at least some 7 to 8% ‘ interest on client deposits.
  • EURPLN has been trending higher since yesterday, gradually approaching its 50DMA resistance at 4.7370.
    • Next resistance to watch above that stands at 4.80.
    • On the downside, ST support stands at 4.6960 (100DMA).

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