PLN: NBP seen ending easing cycle with rates on hold – BBH
Ni FXStreet Insights Team
Na-update: 6 May 2026
Sikat na Artikulo
Brown Brothers Harriman’s (BBH) Elias Haddad expects the National Bank of Poland (NBP) to keep its policy rate at 3.75% for a second consecutive meeting, effectively signalling an end to its 200 bps easing cycle over the past year.
Brown Brothers Harriman’s (BBH) Elias Haddad expects the National Bank of Poland (NBP) to keep its policy rate at 3.75% for a second consecutive meeting, effectively signalling an end to its 200 bps easing cycle over the past year. With headline and core Consumer Price Index (CPI) running above NBP projections and a favourable balance of payments, Haddad argues positive real rates continue to underpin the Polish Zloty (PLN).
Stable policy and supportive real rates
"National Bank of Poland (NBP) is widely expected to keep the policy rate unchanged at 3.75% for a second straight meeting today."
"NBP will likely signal that its easing cycle, which saw it deliver 200bps of cuts in the past year, is over."
"Poland headline and core CPI inflation are tracking above the NBP’s Q1 projection of 2.2% and 2.6%, respectively."
"Poland’s positive real rates and favorable balance of payments backdrop continue to underpin PLN."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
Higit sa isang milyong user ang umaasa sa FXStreet para sa real-time market data, charting tools, expert insights, at Forex news. Ang komprehensibong economic calendar at educational webinars nito ay tumutulong sa mga trader na manatiling may alam at gumawa ng kalkuladong mga desisyon. Sinusuportahan ang FXStreet ng humigit-kumulang 60 propesyonal sa pagitan ng Barcelona HQ at iba’t ibang rehiyon sa buong mundo.
Magbasa pa
