Poland Government Bond 10Y

ING analyst Frantisek Taborsky says the Polish Zloty and Romanian Leu remain under pressure after the National Bank of Poland held rates at 3.75%. A dovish policy message from the central bank could push EUR/PLN towards 4.380–4.400, Taborsky wrote. The Leu is also flagged as pressured in the same ING assessment.

The National Bank of Poland kept a dovish stance, signalling no need to adjust rates potentially until mid-next year despite rising inflation, according to ING's Frantisek Taborsky. That posture leaves the Polish zloty vulnerable against the euro, Taborsky noted. The central bank's guidance points to rates staying unchanged potentially until mid-next year even as inflation rises.