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13 Apr 2015
Polish central bank to leave rates unchanged – BBH
FXStreet (Edinburgh) - The research team at BBH suggested that the NBP could keep its monetary stance ‘on hold’ in its next meeting.
Key Quotes
“National Bank of Poland meets Wednesday and is expected to keep rates steady at 1.5%”.
“Poland also reports March CPI that day, expected at -1.3% y/y vs. -1.6% in February”.
“EUR/PLN is trading at levels not seen since 2011. Given deflationary risks, we don't think policymakers there are particularly happy about the firmer zloty”.
“Further currency gains and ongoing deflation will raise the risk of further rate cuts”.
“However, April may be too soon after the NBP delivered a 50 bp cut just last month. Another cut in Q2 seems pretty likely if current trends continue”.
Key Quotes
“National Bank of Poland meets Wednesday and is expected to keep rates steady at 1.5%”.
“Poland also reports March CPI that day, expected at -1.3% y/y vs. -1.6% in February”.
“EUR/PLN is trading at levels not seen since 2011. Given deflationary risks, we don't think policymakers there are particularly happy about the firmer zloty”.
“Further currency gains and ongoing deflation will raise the risk of further rate cuts”.
“However, April may be too soon after the NBP delivered a 50 bp cut just last month. Another cut in Q2 seems pretty likely if current trends continue”.