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Policy Tightening May Ease In Coming Months (Janczyk)

POLAND
  • This morning, NBP member Janczyk said in an interview that policy tightening may ease in the coming months.
  • Janczyk added that the recent PLN gains prove that polish rate hikes have been ‘effective’.
  • Forward rates are still pricing in a 'large' for the April’s meeting hike despite the sharp PLN recovery in the past ten days.
  • FRA 1Mx4M is currently trading 75bps above the Wibor 3M.
  • NBP member Kotecki mentioned in an interview on Wednesday that the central bank should raise interest rates as much as necessary.

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