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NBP Likely To Hike By 75bps on April 6

POLAND
  • The NBP meets this week on April 6 and analysts expect the central bank to hike its benchmark rate by 50bps to 4%, its highest level since January 2013.
  • With the FRA 1Mx4M currently trading at 75bps above the WIbor 3M, the market is pricing in between a 50bps and a 75bps hike.
  • A ‘large’ hike (i.e. 75bps) is likely following the inflation print on Friday.
  • NBP Governor Glapinski will hold a press conference at 3PM CET on Thursday.
  • Yesterday, Deputy Minister Buda said that Poland is ‘very close’ to agreement on EU pandemic funds.
  • Today, the U.K.’s Foreign Secretary Liz Truss is meeting Polish officials including prime minister and foreign minister during her visit in Warsaw to discuss war in Ukraine (BBG).

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