ING analysts expect the NBP to hold rates at 3.75% in October, with potential 25bp hikes not anticipated until early 2027, supporting the zloty's current valuation.
The Polish Zloty is influenced by the National Bank of Poland's monetary policy stance, with ING economists projecting a hold at 3.75% for the October meeting. The expectation of future rate hikes in early 2027, driven by persistent inflation risks, provides a supportive fundamental outlook for the currency's medium-term valuation.
ING economists expect the NBP to maintain the policy rate at 3.75% during the October meeting.
The earliest potential for a policy shift is November, with two 25bp hikes currently anticipated for the first quarter of 2027.
ING economists project the National Bank of Poland will maintain its policy rate at 3.75% during the October 7 meeting. While inflation risks remain a concern, the central bank is expected to delay any monetary tightening until 2027, providing a stable outlook for the zloty in the near term.
Economists expect the National Bank of Poland to hold rates at 3.75% through October, with no rate hikes anticipated until the first quarter of 2027.