The Narodowy Bank Polski (NBP) decided to stay on hold at 1.50% at today’s MPC meeting in line with market consensus. Analysts at TD Securities do not see the zloty gaining traction as EUR/PLN trades at 4.290. Key quotes “Poland’s NBP decided to hold rates in its second rate-setting meeting this year. So the Base Rate has been left unchanged at 1.50%, as we and the consensus had expected.” “As far as Poland is concerned, the market was priced for 10bps of easing (40% chance of a cut) until yesterday, about 60bps of easing by year-end, and nearly three cuts (or 75bps) by end-2021. We now expect some of these implied expectations to be priced out, but not entirely.” “FRAs are now pricing in around 60bps of easing by the end of 2020. We think that Glapinski’s comments in the upcoming press conference could reduce expectations for easing to around 45-50bps. PLN is unlikely to exhibit further, significant, strength however.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next BoE’s Bailey: BoE needs to act in a coordinated way with Treasury FX Street 2 years The Narodowy Bank Polski (NBP) decided to stay on hold at 1.50% at today's MPC meeting in line with market consensus. Analysts at TD Securities do not see the zloty gaining traction as EUR/PLN trades at 4.290. Key quotes “Poland's NBP decided to hold rates in its second rate-setting meeting this year. So the Base Rate has been left unchanged at 1.50%, as we and the consensus had expected.” “As far as Poland is concerned, the market was priced for 10bps of easing (40% chance of a cut) until yesterday, about 60bps of easing by year-end, and nearly three cuts… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
