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Zloty On Back Foot Ahead Of Thursday's NBP Rate Decision


EUR/PLN trades +90 pips at 4.4417, with the market preparing for this week's NBP monetary policy decision. While rates are universally expected to stay unchanged, the updated macroeconomic projections and the MPC's/Governor Glapinski's rhetoric will be closely watched.

  • POLGBs are firmer across the curve, with yields last seen 3.8-5.4bp lower. The local FRA curve sits marginally lower versus prior closing levels. The WIG20 Index sits 1% above neutral levels, with the WIGBANK Index adding ~1.6% to print fresh cyclical highs.

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