MNI BRIEF: EU Working On New Trade Retaliation Steps Vs US

MNI BRIEF: China To Boost Environmental Equipment Industry

MNI BRIEF: China SME Index Highest Since June 2021

MNI China Press Digest March 12: FDI, Cars, Retail Sales

MNI: PBOC Net Drains CNY177.8 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1696 Weds; -0.47% Y/Y

MNI: JAPAN FEB CORP GOODS PRICE INDEX +4.0% Y/Y; JAN +4.2%

MNI: USDA: 2024/2025 CORN PRODUCTION EST 14.87B BSL

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

GERMANY: Union/SPD Migration Alignment After Turmoil Threatened Debt Deal (BILD)

GERMANY: Official Interim Election Results Tilt Towards Missing BSW & FDP

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

PLN: NBP Policy Statement, Comments from Fed's Waller Assisting PLN

PLN
PolandCEEMEAEM BulletBulletEmerging Market News

The NBP’s policy statement may potentially be interpreted as hawkish at the margins, assisting the zloty off its worst levels of the day. However, it is more likely that EURPLN is moving in tandem with the weaker dollar on the back of comments from Fed’s Waller (see earlier posts).

  • The policy statement noted that inflation will remain “markedly” above target in the coming quarters while it also removed reference to the disinflationary impact of the zloty. Overall, the data-dependent tone of the statement was maintained.
  • Attention will turn to Governor Glapinski’s press conference tomorrow afternoon (14:00GMT/15:00CET). As a reminder, the Governor’s surprisingly hawkish comments last month were met by rebuttals from other MPC members, keeping the focus on inter-meeting communication moving forward.
120 words

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.

The NBP’s policy statement may potentially be interpreted as hawkish at the margins, assisting the zloty off its worst levels of the day. However, it is more likely that EURPLN is moving in tandem with the weaker dollar on the back of comments from Fed’s Waller (see earlier posts).

  • The policy statement noted that inflation will remain “markedly” above target in the coming quarters while it also removed reference to the disinflationary impact of the zloty. Overall, the data-dependent tone of the statement was maintained.
  • Attention will turn to Governor Glapinski’s press conference tomorrow afternoon (14:00GMT/15:00CET). As a reminder, the Governor’s surprisingly hawkish comments last month were met by rebuttals from other MPC members, keeping the focus on inter-meeting communication moving forward.