The National Bank of Poland kept rates on hold in June
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POLAND: In the wake of the decline in CPI inflation in May, the Monetary Policy Council (MPC) is not in a rush to hike interest rates. Policymakers have more time to assess the impact of the energy shock on the inflation outlook and the real economy prospects. We do not expect ha
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4 itemsThe National Bank of Poland kept rates on hold in June
National Bank of Poland preview: Rates on hold for now with a hawkish tilt likely
The desk anticipates that the National Bank of Poland (NBP) will maintain its current policy rates despite rising energy prices and an unexpected uptick in April's Consumer Price Index (CPI). Per the full note from ing-think, while immediate rate hikes are not expected, the NBP's narrative is likely to adopt a more hawkish tone in the near future, particularly as the July projections approach. This aligns with the broader sentiment that inflationary pressures are becoming more pronounced, necessitating a careful watch on future policy shifts. The consensus among analysts suggests a cautious approach, with rates expected to remain unchanged for now but with potential for upward adjustments later this year.