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NBP Approaching End Of Tightening Cycle (Wnorowski)

POLAND
  • NBP member Wnorowski mentioned in an interview that he expects a decrease in dynamics of CPI in September.
  • He added that he sees room for hikes, but the NBP is approaching the end of the tightening cycle; rates in Poland could peak between 6 and 7%.
  • Poland’s Finance Ministry in Warsaw publishes report today showing revenue rose 12.7% y/y YtD to PLN313.29 billion (BBG).
  • EURPLN continues to retrace higher this morning after finding support at its 200DMA yesterday; ST resistance to watch on the topside stands at 4.7160 (50DMA). On the downside, support to watch below 4.6530 (200DMA) stands at 4.60.
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  • NBP member Wnorowski mentioned in an interview that he expects a decrease in dynamics of CPI in September.
  • He added that he sees room for hikes, but the NBP is approaching the end of the tightening cycle; rates in Poland could peak between 6 and 7%.
  • Poland’s Finance Ministry in Warsaw publishes report today showing revenue rose 12.7% y/y YtD to PLN313.29 billion (BBG).
  • EURPLN continues to retrace higher this morning after finding support at its 200DMA yesterday; ST resistance to watch on the topside stands at 4.7160 (50DMA). On the downside, support to watch below 4.6530 (200DMA) stands at 4.60.