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National Bank of Poland likely to hike rate by end of 2018 - Commerzbank

The National Bank of Poland kept its key interest rate on hold yesterday, as anticipated. The MPC hawks appeared to have given more mixed signals. For instance, Lucasz Hardt agreed that the possibility of a rate hike this year has diminished.

However, Governor Adam Glapinski made it clear that his own projection of flat rates is just until the end of this year, and that his recent statements regarding rates being flat even until mid-2019 was more an idea about what he might like under ideal circumstances, but not a formal signal, stated Commerzbank in a research report.

But the remarks made by several members implied a slight shift in favor of doves after previous month’s weak euro area price data. This dovishness led to a slight depreciation of the Polish zloty.

“For now, we maintain our call for one rate hike by the end of 2018, but the risk to this call is increasing”, added Commerzbank.

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November 19 02:30 UTC Released

THGDP Growth YY

Actual

3.3 %

Forecast

4.2 %

Previous

4.6 %

November 18 23:50 UTC Released

JPTrade Balance Total Yen

Actual

-449.3 Bln JPY

Forecast

-70 Bln JPY

Previous

139.6 Bln JPY

January 31 00:00 UTC 420787420787m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 420787420787m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 432607432607m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 420787420787m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 432607432607m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 420787420787m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 420787420787m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 420787420787m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

Close

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