National Bank of Poland on PLN
National Bank of Poland published its inflation report today, where we could notice the downward revisions to both inflation and GDP forecasts. Monetary authorities also commented on Polish Zloty exchange rate, saying it’s below fundamental level. They see both current and capital account staying above longterm average, which should prove to be supportive for PLN exchange rate, resulting in its appreciation. NBP also sees a positive impact of the portfolio investments inflow to Poland, partially being an effect of ECB’s QE.