- EUR/PLN: Higher volatility rather than direction for the Zloty – ING
Market news
29 September 2023
EUR/PLN: Higher volatility rather than direction for the Zloty – ING
The Polish Zloty has stabilised slightly above 4.60 against the Euro in recent days. Economists at ING analyze EUR/PLN outlook ahead of next week's National Bank of Poland (NBP) meeting.
EUR/PLN should remain near current levels until next week's NBP meeting
For now, a 25 bps rate cut seems the most likely scenario for us. The market is pricing in a bigger rate cut at the moment and remains on the dovish side. Thus, the scope for repricing is more hawkish in case of a surprise, which could support the Zloty.
At the moment, however, we see higher volatility rather than direction for the PLN, which should remain near current levels until next week's meeting.
Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimerOpen Demo Account & Personal Page