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NBP Wnorowski Sees Room For At Least Two 50bps/75bps Hikes

POLAND
  • Lower house of parliament starts two-day session; agenda includes central bank Governor Adam Glapinski taking oath after being reappointed for second term (BBG).
  • NBP policymaker Wnorowski mentioned in a recent interview that he sees room for at least 2 hikes of 50bp/75bps magnitude.
  • Wnorowski added that the ‘cheap’ PLN is ‘justified’ by fundamentals.
  • Yesterday, economic data showed that PPI inflation accelerated to 24.7% in May (vs. 24.6% exp.), up from revised 24.1% the previous month. Average gross wages decelerated to 13.5% thought (vs. 14.9% exp.), down from 14.1% the previous month.
  • This morning, economic data to watch will be retail sales.
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  • Lower house of parliament starts two-day session; agenda includes central bank Governor Adam Glapinski taking oath after being reappointed for second term (BBG).
  • NBP policymaker Wnorowski mentioned in a recent interview that he sees room for at least 2 hikes of 50bp/75bps magnitude.
  • Wnorowski added that the ‘cheap’ PLN is ‘justified’ by fundamentals.
  • Yesterday, economic data showed that PPI inflation accelerated to 24.7% in May (vs. 24.6% exp.), up from revised 24.1% the previous month. Average gross wages decelerated to 13.5% thought (vs. 14.9% exp.), down from 14.1% the previous month.
  • This morning, economic data to watch will be retail sales.