Polish Zloty Stays Higher vs Euro After Rates Held Steady
Dow Jones11-04 22:09
1409 GMT - The Polish zloty stays higher against the euro, little moved after Poland's central bank left interest rates unchanged at 3.75% as expected. "The decision itself didn't appear to be in doubt," Capital Economics economist William Jackson says in a note. Lower-than-expected October inflation and the drop in oil prices in recent days probably tipped the balance towards holding rates, he says. However, monetary policy tightening isn't far away as inflation looks set to rise again, he says. Capital Economics expects 50 basis points of rate increases in the first few months of 2027, taking the policy rate to 4.25%. The euro falls 0.1% to 4.3997 zloty, little changed from levels before the decision.
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