Societe Generale Sees NBP Holding Rates at 3.75%, EUR/PLN Above 4.35

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Societe Generale's Central and Eastern European strategy team expects the National Bank of Poland to keep rates at 3.75% today, with Governor Glapiński likely to flag inflation risks and prepare markets for a November hike. The team sees a hawkish stance offering some Polish Zloty support but still expects EUR/PLN to trade above 4.35 given geopolitical and external risks, after the pair extended gains toward 4.40/4.41 resistance.

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Societe Generale's CEE strategy team is the source of the NBP/EUR-PLN forecast, not a subject of company-specific news.

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