Poland: Policy rate likely to remain on hold - TDS

Analysts at TD Securities suggest that the unanimous consensus is looking for the policy rate to remain on hold at 1.5% in Poland, where it has been since March 2015.

Key Quotes

“The move up in headline inflation to 2.2% Y/Y in April will give the more hawkish members of the MPC some support. However, with core inflation running at lower levels, 1.4% in March, the consensus position is likely to remain that rates are likely to stay on hold this year.”

“Also Q1 GDP growth numbers will be released today, with the consensus looking for 4.4% Y/Y down from the prior 4.9%. Some slowdown in growth is expected this year with the NBP forecasting 4.0% after 5.1% last year.”