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EURGBP TECHS

Consolidating Near Recent Highs

GBPUSD TECHS

Key Support Still Exposed

EURUSD TECHS

Consolidating Ahead Of Its 50-day EMA

EUROSTOXX50 TECHS

Attention Is On The 4000 Handle

BTP TECHS

(M1) Testing Key Support

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(M1) Downtrend Remains Intact

MNI NBP Preview - April 2021: COVID Caseload To Keep Policy Unch

Expected to keep policy unchanged despite rising inflationary pressures as the worsening Covid19 situation is weighing on growth expectations.

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MNINBPApr21.pdf

The National Bank of Poland is expected to keep its reference rate, Lombard rate and deposit rate steady at 0.1%, 0.50% and 0%, respectively, despite rising inflationary pressures as the worsening Covid19 situation is weighing on growth expectations. Even though a rise in economic activity is expected in 2021 following the 2.7% contraction in 2020, uncertainty over the duration of the elevated restrictions imposed by the government is very high and therefore the pace of the recovery remains also uncertain.

Figure 1: Polish inflation nudging top-end of NBP tolerance band

Source: MNI/NBP/Bloomberg