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NBP Governor Glapinski Says Inflation is Now ‘Burdensome’

POLAND
  • PLN continues to strengthen this morning as market prepares for next week’s meeting – Dec 8.
  • The positive surprise in inflation on Tuesday, with CPI rising by 7.7% (vs. 7.3% exp.) have increased the odds for a more aggressive hike (i.e. 75bps).
  • This week, NBP policymaker Gatnar said that Poland needs a 50bps hike in December and January to curb the inflationary pressures.
  • Earlier this morning, NBP Governor Glapinski changed his view on Inflation, saying that it is ‘burdensome’ (not 'transitory' anymore).
  • Yesterday, NBP member Ancyparowicz also reiterated that the central bank may not be done with interest rate hikes.

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