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Zloty Loses Ground Ahead Of NBP Rate Decision

PLN

The zloty trades on the defensive, respecting the confines of yesterday's range, ahead of the announcement of the NBP's final rate decision of this year. When this is being typed, EUR/PLN trades +98 pips at 4.3329, with the 20-EMA providing the initial layer of resistance at 4.3681. On the flip side, the focus is on Mar 4, 2020 low of 4.2870.

  • The NBP is widely expected to keep interest rates unchanged today amid continued uncertainty around fiscal and regulatory policies of the incoming government. There is no fixed time for the announcement of the decision, but Governor Adam Glapinski will hold his press conference tomorrow.
  • The provisional agenda of the lower house of parliament (Sejm) suggests that lawmakers could vote Prime Minister Mateusz Morawiecki out of office on Monday and confirm Donald Tusk as his successor on Tuesday.
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