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NBP To Maintain Stance With Another 50bps Hike

POLAND
  • NBP is likely to hike its policy rate by 50bps to 2.75%.
  • NBP Governor Glapinski commented in a recent interview that the central bank is welcoming stronger zloty.
  • With political risk premium being now trimmed, a strengthening currency reduces the pressure on NBP policymakers to surprise the market with more aggressive hikes.
  • Yesterday, Polish MPC Candidate Borowski spoke in parliament and mentioned that he favors a cautious monetary tightening.
  • Polish Finance Minister Tadeusz Koscinski resigned after botched tax overhaul (announced last week).

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