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SocGen Expecting a 25bps Hike This Week

POLAND
  • SocGen expects the NBP to continue to hike rates and forecasts three 25bp increases to the reference rate, in September, October and November.
  • SocGen also pencils in two additional hikes next year with 25bp in February and 50bp in March 2023, in response to the inflation peak.
  • The terminal rate would then reach 8% on SG estimates (previous forecast was 9.5% by March 2023).

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