Commerzbank predicts the NBP will hold rates at 3.75%, leaving the Polish Zloty vulnerable as temporary fuel tax cuts mask broader inflationary pressures in the economy.
Commerzbank expects the NBP to keep its base rate at 3.75%, and the cautious stance described keeps the Polish Zloty under pressure. An unchanged rate gives the currency little fresh support, while inflation risks are seen as masked by temporary fuel tax cuts. That mix points to a weaker zloty over the short term.
It expects the base rate to stay at 3.75%.
Commerzbank cites NBP caution and inflation risks masked by temporary fuel tax cuts.
The Polish Zloty remains under downward pressure as Commerzbank analysts anticipate the National Bank of Poland (NBP) will maintain its base interest rate at 3.75%. Despite underlying inflation risks, the central bank's cautious policy stance provides little support for the currency in the near term.
It expects the base rate to stay at 3.75%.
Commerzbank cites NBP caution and inflation risks masked by temporary fuel tax cuts.