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NBP statement major headlines

POLAND
  • After leaving its reference rate steady at 0.1% (as expected), the NBP announce in its statement that it will continue QE purchases on secondary market to sustain growth.
  • Poland inflation is likely to continue to rise in coming months mainly driven by the surge in fuel prices.
  • NBP also mentioned that it may intervene on the FX market. The PLN has weakened significantly in the past 2 months as growth expectations have faded due to the worsening Covid situation, but the recovery pace will depend on Zloty moves.
  • EURPLN relatively unmoved as today's decision was priced in by participants; the pair remains close to the day's lows of 4.5734.
  • Full statement here: https://www.nbp.pl/en/aktualnosci/2021/mpc_2021_04...

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