Confusion over MPC does not affect the zloty
18:07
The weekend and the beginning of the week brought a surprising turn of events in the context of the main body deciding on monetary policy in Poland (including interest rates). First, a short video of a conversation with NBP President Adam Glapinski (hooked up privately on a pier) appeared on social media. In it, the head of the central bank said that September would see the latest interest rate hike of 0.25 percentage points.
On Monday, one of the MPC members, Rafal Sura, resigned from his post. The document went to the Speaker of the Senate.
This does not help the NBP build long-term credibility. How is the market taking it this time? The zloty is strengthening. The dollar exchange rate has fallen nearly PLN 0.04 over the past several hours.
