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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.
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI NBP Preview - Sept 2024: On Hold Until '25
Executive Summary:
- NBP highly likely to keep policy unchanged
- No easing expected this year, but rhetoric is softening for rate cuts in 2025
- Glapinski's tone in Thursday's press conference likely of more market interest than Wednesday's policy announcement
Full preview including summary of sell-side views here: MNINBPPrevSep24.pdf
It is highly unlikely that any of the ten members of the Monetary Policy Council (MPC) will cast their vote in favour of a rate cut this week, with the National Bank of Poland (NBP) widely expected to stand pat on rates at least through the end of 2024.
That being said, a growing number of members have been flagging the potential for interest-rate cuts in 2025, with Governor Adam Glapiński eventually softening his hawkish forward guidance. The official may provide a more formal update on the interest-rate outlook during the upcoming press conference, taking stock of weaker-than-expected macroeconomic data at the start of Q3.
MNI (LONDON)
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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.