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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
- 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
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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