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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.
POLAND
- NBP policymaker Rafal Sura confirmed in an interview today that hiking interest rates by the end of the MPC term could significantly weigh on Poland economic recovery.
- As a reminder, the terms of seven Council members expire in 2022 Q1, and Governor Glapinski's at end-2022 Q2.
- Inflation is likely to remain elevated in H2 (exceeding 3.5%), significantly impacted by fuel and administered prices.
- However, inflation in Poland is supply side-driven and therefore outside of the impact of monetary policy. Hence, hiking rates may not result in inflation falling.
- The chart below shows that both headline and core CPI are now standing above the 3.5% NBP upper tolerance band.
Source: Bloomberg/MNI
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.
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