Daily outlook for PLN: UniCredit

Quotes from UniCredit Research:

-Today's focus will be on the NBP meeting minutes (14:00 CET) and the discussion among board members as markets anticipate either a 25bp or a 50bp rate cut in March (UniCredit expects a 25bp cut).

-PLN has lagged behind both HUF and CZK in recent days and rate markets (FRAs specifically) are pricing in a cumulative of 50bp in rate cuts over the next three months, which covers three central bank meetings.

-If the NBP sounds even more divided on the issue of easing, PLN may reverse its recent underperformance vs. HUF and CZK in the near term.