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Polish Zloty Under Pressure from Monetary Easing Outlook

August 19, 2016 at 15:02 by Vladimir Vyun

Some 100-zloty notesThe Polish zloty fell against other most-traded currencies, including the US dollar, during the Friday’s trading session, pressed by expectations of monetary easing from the nation’s central bank.

Voting member of the central bank Jerzy Zyzynski told Reuters today that he favors an interest rate cut:

 

I would back cutting interest rates. When uncertainty was high, the MPC supported a policy of stabilising rates. Now, perhaps, uncertainty has subsided and one may reduce interest rates

The comments followed a string of disappointing macroeconomic data that supported the case for more accommodative monetary policy.

USD/PLN rose 0.64% to 3.8044 as of 14:55 GMT today.

If you have any questions, comments or opinions regarding the Polish Zloty, feel free to post them using the commentary form below.

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