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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.
MNI NBP Preview - May 2021: Policy Rate To Remain Unchanged
Executive Summary:
- The NBP decided to raise its policy rate by 50bps to 1.75% (as expected)
- NBP commented in its statement that the scope of the tightening cycle will depend on data, which leaves PLN vulnerable as it increases the uncertainty over policy outlook
- Weaker growth expectations imply slower pace while rising inflationary pressures suggest bigger hikes
Link to full review:
MNI Poland CB Review Dec 8.pdf
The NBP decided to raise its policy rate by 50bps to 1.75% (as expected) at yesterday's meeting, which slightly disappointed market and led to some PLN depreciation. The policy rate is now standing slightly above the pre-Covid level (1.50%) following the hike (left chart).
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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