Mar 26
Poland: NBP maintains its hawkish credentials
Today the Polish central bank (NBP) in line with the consensus expectation decided to hike its key policy rate by a further 25bp to 5.75%, but contrary to our expectation of unchanged rates. This is the third consecutive hike in as many months, and further demonstrates that the NBP remains committed to fighting inflation. The hike undoubtedly has to be seen in light of the fact that inflation remains above the NBP’s inflation target of 2½% +/- 1%-point, and we believe is likely to remain