Free Trial

Zloty Depreciates Ahead Of NBP Statement Release, Then Stabilises

PLN

EUR/PLN tracked higher in the lead-up to the release of the statement from the NBP's monetary policy meeting, which resulted in a widely expected decision to leave interest rates unchanged.

  • The statement was largely repetitive, with the central bank noting that it stands ready to intervene in FX markets and sees CPI inflation gradually ease towards the target as it continues to monitor incoming data.
  • When this is being typed, EUR/PLN sits +69 pips at PLN4.6849. The technical picture outlined earlier remains in play.
  • The next stop is a press conference with Governor Adam Glapinski scheduled for tomorrow at 14:00BST/15:00CEST.

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.