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PLN Weakness Not Seen As A Pressure To Hike (Glapinski)

POLAND
  • NBP Governor Glapinski mentioned in an interview that the recent weakness in the PLN is not seen as a pressure to hike interest rates.
  • He added that part of the zloty weakness is driven by the big decline in the Euro relative to the US Dollar.
  • It is likely NBP will hike again in December even though the economic outlook keeps worsening; a disappointing decision could result in further PLN weakness.

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