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Poland’s central bank governor delivers most hawkish conference of year despite weak data
We see today’s speech by President Adam Glapiński as strongly hawkish. This is illustrated by the appreciation in the EUR/PLN rate from 4.275 to 4.26 in the first few minutes of the conference. The main conclusion from the conference is that, according to the MPC, extending the energy price freeze next year would result in an unfreezing in 4Q 2025, thereby introducing a later inflation risk. This postpones the return of inflation to the central bank's target by six months compared to the baseline scenario in the NBP's November projection, thereby delaying the start of the easing cycle. Discussions about rate cuts ... (full story)
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- Posted: Dec 5, 2024 3:58pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 4,229
