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POLAND

NBP statement highlights:

  • QE to be open ended & NBP may intervene in FX markets if required
  • Q4 growth expected to take a downturn, but not as severe as Q2, driven by lower consumption & investment
  • NBP will also continue to offer bill discount credit aimed at refinancing loans granted to enterprises by banks

EUR/PLN dipping slightly lower after a bit of a lackluster statement - pulling away from 4.4952. Friday's statement from Glapinski may shed some more light on whether the NBP will be more forceful in its management of the PLN exchange rate

MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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