Free Trial
AUSSIE 3-YEAR TECHS

(Z2) Appears Vulnerable

US TSY FUTURES

TU Blocked

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
POLAND
  • In an interview yesterday with PAP, NBP policymaker Gatnar said that Poland needs a 50bps hike in December and January to curb the inflationary pressures. He also added that the current zloty exchange rate does not reflect good condition of Polish economy.
  • As a reminder, economic data yesterday showed that CPI inflation accelerated to 7.7% in November (vs. 7.3% expected), up from 6.8% the previous month, and continues to divergence significantly from the 3.5% NBP upper tolerance band (see chart).
  • Odds for a more aggressive hike (75bps) are now bigger, as the magnitude of the previous NBP hikes strongly depended on CPI prints.
  • As expected, PLN continues to consolidate higher ahead of the NBP meeting next week (December 8).
  • This morning, manufacturing PMI rose more than expectations in November to 54.4 (vs. 53.9 exp.), up from 53..8 the previous month.

Source: Bloomberg/MNI

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.