PLN: Still no change – Commerzbank
06.11.2024, 10:25

PLN: Still no change – Commerzbank

Poland’s central bank (NBP) will announce its monthly interest rate decision today. It is unanimously expected that the CB will not change its base rate or guidance today, Commerzbank’s FX analyst Tatha Ghose notes.

Polish inflation moderates to close to target

“Policymakers will likely cite the 5% inflation rate (last headline reading; last core reading was 4.3%) as the reason not to consider rate cuts. At this time, the zloty exchange rate is also weak from rising global market risk aversion, which adds further justification for policy caution. The underlying reality, however, is that Polish inflation, like inflation in many other EU countries, has already moderated to close to target on seasonally-adjusted month-on-month basis.”

“A recent upward spike from the unwinding of pandemic era energy and food pricing measures had almost negligible impact and quickly settled down. In this environment, there is no real justification for maintaining a 5.75% interest rate, in particular as the real economy has entered a soft patch. But, NBP’s monetary policy is basically ‘politicized’, with (governor) Adam Glapinski’s MPC faction digging its heels in against rate cuts since the time its political opposition came to power.”

“We anticipate nothing else but a repetition of such points today and at Thursday’s press conference. We maintain that this artificially held hawkish monetary stance should not be working positively for the zloty’s valuation as it represents a breakdown of proper monetary policy – it should act as a drag, instead.”

© 2000-2024. Sva prava zaštićena.

Sajt je vlasništvo kompanije Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

Svi podaci koji se nalaze na sajtu ne predstavljaju osnovu za donošenje investicionih odluka, već su informativnog karaktera.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

Politika sprečavanja pranja novca

Upozorenje o rizicima

Izvršenje trgovinskih operacija sa finansijskim instrumentima upotrebom marginalne trgovine pruža velike mogućnosti i omogućava investitorima ostvarivanje visokih prihoda. Međutim, takav vid trgovine povezan je sa potencijalno visokim nivoom rizika od gubitka sredstava. Проведение торговых операций на финанcовых рынках c маржинальными финанcовыми инcтрументами открывает широкие возможноcти, и позволяет инвеcторам, готовым пойти на риcк, получать выcокую прибыль, но при этом неcет в cебе потенциально выcокий уровень риcка получения убытков. Iz tog razloga je pre započinjanja trgovine potrebno odlučiti o izboru odgovarajuće investicione strategije, uzimajući u obzir raspoložive resurse.

Politika poverenja

Upotreba informacija: U slučaju potpunog ili delimičnog preuzimanja i daljeg korišćenja materijala koji se nalazi na sajtu, potrebno je navesti link odgovarajuće stranice na sajtu kompanije TeleTrade-a kao izvora informacija. Upotreba materijala na internetu mora biti praćena hiper linkom do web stranice teletrade.org. Automatski uvoz materijala i informacija sa stranice je zabranjen.

Ako imate bilo kakvih pitanja, obratite nam se pr@teletrade.global.

Банковни
транcфери
Feedback
Lajv čet E-mail
Povratak na vrh
Izaberi lokaciju / jezik