NBP seen ‘on-hold’ at this week’s meeting – BBH

Analysts at BBH have ruled out further action by the Polish central bank at its meeting on Wednesday.

Key Quotes

“National Bank of Poland meets Wednesday and is expected to keep rates steady at 1.50%”.

“CPI came in at -0.9% y/y in March, and so deflation risks are persistent”.

“We do think easing is likely later this year if current trends continue. The new MPC has so far sounded surprisingly hawkish”.