EUR/PLN to converge back towards pre-pandemic level of 4.30 over 2022 – TDS

Economists at TD Securities maintain a positive view on the Polish zloty. As a result of positive fundamentals, they expect the EUR/PLN pair to drop towards 4.30 throughout the year.

Policy normalisation in Poland is in full swing

“We continue to hold a positive view on zloty. The policy normalisation in Poland is in full swing. The NBP already delivered 215bps of tightening since October 2021 as well as ended QE. In addition, the recovery in Poland continues at a robust pace.” 

“We continue to see EUR/PLN gradually converging back towards the pre-pandemic level of 4.30 over the course of 2022.”