PLN: NBP seen ending easing cycle with rates on hold – BBH

NBP hold confirms March cut was one-and-done

The NBP kept its reference rate unchanged at 3.75%, in line with expectations, but the decision still matters for PLN. The March cut indeed looks less like the start of a new easing cycle and more like a policy misstep that has been overtaken by events. April CPI rose to 3.2% YoY from 3.0% YoY, leaving inflation close to the top of the NBP’s 1.5–3.5% tolerance band, while the Iran-driven energy shock has made the inflation outlook less benign th…

PLN: NBP seen ending easing cycle with rates on hold – BBH

The post PLN: NBP seen ending easing cycle with rates on hold – BBH appeared on BitcoinEthereumNews.com. Brown Brothers Harriman’s (BBH) Elias Haddad expects the National Bank of Poland (NBP) to keep its policy rate at 3.75% for a second consecutive meeting, effectively signalling an end to its 200 bps easing cycle over the past year. With headline and core Consumer Price Index (CPI) running above NBP projections and a favourable balance of paym…