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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.
NBP
The National Bank of Poland releases its November Inflation Report, which informed the on-hold rate decision delivered earlier this week.
- "Annual consumer price growth in Poland has continued to decline significantly in recent months (to 8.2% in September and, according to the Statistics Poland flash estimate, 6.5% in October compared to 11.5% in June and a peak of 18.4% in February 2023). The biggest driver of the fall in CPI inflation from June to September 2023 was the lower annual growth in prices of food and non-alcoholic beverages as well as nonfood product."
- "Under the assumption of unchanged NBP interest rates (including the reference rate at 5.75%), CPI inflation will return to the band of deviations from the NBP inflation target defined as 2.5% +/-1 p.p. at the end of the projection horizon. The current period of inflation running at the highest level for many years increases its persistence – although over the projection horizon a decline in growth in unit labour costs is expected, in the coming quarters inflation will still run at an elevated level."
- Click here to see the full document.
Fig. 1: NBP Inflation Report - CPI Projection
Source: NBP
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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