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PLN Weakness Will Not Delay Peak in Inflation (Glapinski)

POLAND
  • NBP Governor Glapinski mentioned in an interview that the PLN weakness will not delay the peak in inflation.
  • He added the zloty was currently trading significantly below its ‘fundamental’ value.
  • According to our BEER FX model, the PLN is currently trading nearly 19% below its ‘fair’ value.
  • HUF remains the most undervalued currency as the geopolitical uncertainty has been significantly weighing on the forint and domestic risky assets.

Source: Bloomberg/MNI

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