Poland: MPC to keep its policy rate on hold at 1.5% - TDS

In view of analysis team at TD Securities, there is little doubt that today the Poland’s MPC will keep its policy rate on hold at 1.5%, where it has been since March 2015.

Key Quotes

“Recent inflation data has been benign, with preliminary headline CPI inflation running at 1.7% Y/Y in October down from a prior 1.9%, and comfortably below the 2.5% target.”

“Core inflation is even more subdued, running at 0.8% Y/Y in September. In the press conference Governor Glapinski is likely to repeat his recently stated view that "with a huge probability, rates will remain stable until the end of 2019, and if nothing changes - even further." We are more hawkish, expecting rates to be raised around the middle of next year.”