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Selling Pressure on PLN Remains Intense

POLAND
  • Yesterday, the NBP offered 4bn PLN FX swap to the National Bank of Ukraine to ease market pressure following the strong UAH depreciation.
  • A rising number of sell-side firms are now expecting more hikes from the NBP to tame inflation as the PLN weakness this week has been supporting inflation expectations.
  • Climate Minister Anna Moskwa mentioned yesterday that Poland has oil reserves to secure supply in crisis.

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