Free Trial

NBP Will Continue Act Against Inflation

POLAND
  • NBP commented in its statement that it will continue to act against inflationary pressures in the coming months.
  • NBP also repeated that it may intervene in the FX market and that the scope of the tightening will depend on data (especially inflation updates).
  • As a reminder, the NBP decided to kick start 2022 by hiking its policy rate by 50bps to 2.25% today to curb the inflationary pressures, which are expected to remain elevated more than previously anticipated.
  • A few participants were expecting a 75bps+ hike today, but NBP policymakers may prefer to prolong the tightening cycle rate rather than hike rates aggressively as an aggressive tightening cycle generally weighs on growth expectations.


Link to the statement:

https://www.nbp.pl/en/aktualnosci/2021/mpc_2022_01...

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.