ING Flags Zloty and Leu Pressure as NBP Holds Rates at 3.75%

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Summary · why it matters

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.

Impact on assets 3

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％Poland Government Bond 10Y
PL-10Y
▼ NegativeMonetaryrelevance

Dovish NBP policy message and zloty weakness imply lower Polish yields / easier policy expectations, supporting bond prices (yield down).

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