CANADA TO PUBLISH FISCAL UPDATE ON DEC. 16

MNI BRIEF: Inflation Expectations Tick Higher - NY Fed

MNI BRIEF: China Passenger Car Sales Up In November Y/Y

MNI BRIEF: Mexico Inflation Down To 4.55% In November

MNI China Daily Summary: Monday, December 9

MNI BRIEF: China To Strengthen Policy Easing In 2025: Poliburo

MNI:US OCT WHOLESALE INV 0.2%; SALES -0.1%

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI BRIEF: China Nov CPI Slows To 5-Month Low Of 0.2% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

NBP Expected To Remain On Hold On June 9

POLAND
  • Next policy meeting is on Wednesday June 9, with NBP expected to keep its benchmark rate steady at 0.1%; market could start to take profit on PLN following the sharp appreciation we have seen in the past two months if participants realize that NBP will let inflation run hot in H2.
  • Even though inflation has been rising significantly in recent months mostly driven by the surge in fuel prices, some policymakers aim to keep financial conditions as loose as possible to stimulate the economic recovery after a difficult first quarter.
  • However, disagreements over the trajectory of short-term rates have increased in the second quarter as some policymakers are concerned that the inflationary pressures will remain elevated in 2022 and are pushing for a first 15bps hike this summer (i.e. Hardt).
  • Yesterday, PFR president Pawel Borys (a state-owned financial group) said on TOK FM that rate hike may be needed in late 2021/early 2022.
  • USDPLN has been trading sideways in the past two weeks, oscillating between 3.64 and 3.70; on the topside, resistance to watch above 3.70 stands at 3.77. On the downside, first support stands at 3.62.
  • Poland 10Y yield ticked slightly higher yesterday after failing to break below its ST support at 1.80%; next level to watch on the downside stands at 1.72%. On the topside, key resistance remains at 2%.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

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.