Poland: MPC likely to keep its policy rate on hold – TDS

According to analysts at TD Securities, in Poland, the MPC will very likely keep its policy rate on hold at 1.50% today, where it has been held steady since March 2015.

Key Quotes

“We expect no new material information with respect to monetary policy. Despite the weak PMIs and slowing growth, albeit the latter remains relatively high, we think NBH Governor Glapinski will maintain the view of keeping a neutral stance and rates unchanged over the foreseeable future.”

“In recent comments, on 25 October, Glapinski suggested that the inflation forecast might be revised slightly higher and the GDP downwards. Amongst other things, he said: "Growth should remain solid while current inflation growth is temporary. CPI should start to head lower by mid-2020 and remain within NBP’s tolerance band of 1.5%-3.5%".”