Free Trial

Wnorowski Says NBP Terminal Rate May Rise To 7.5%

POLAND
  • Earlier this morning, NBP recently appointed member Henryk Wnorowski told in an interview with Business Insider that he sees no end to rate hikes in the coming months and Polish benchmark rate may rise to 7.5% at the end of the tightening cycle.
  • Wnorowski added that Polish inflation will only return below the NBP upper tolerance band of 3.5% in 2024.
  • With the FRA 9Mx12M currently trading at 110bps over the Wibor 3M, market is currently pricing in a terminal rate between 5.5% and 5.75%.
  • Polish Prime Minister Mateusz Morawiecki will visit Lviv in Ukraine on Tuesday to open a refugee center for internally displaced that the government is helping to set up (BBG).
  • Economic data to watch today is core CPI, coming out at 1pm (London) and expected to accelerate to 7% YoY in March.

To read the full story

Close

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.