In Brief: zloty can swing free, rates likely on upswing, bonds cut

"The current zloty level reflects the widening trade deficit, certain risks relating to the upcoming elections and a certain regional risks," she said. According to the recommendation of the International Monetary Fund (IMF), the central bank has stopped imposing a cap on the zloty's free swings. (Reuter) ... Poland's central bank will raise market rates and possibly nominal rates to counter booming credit growth and offset affects of extra government financing of flood aid. (Reuter) ... The Ministry of Finance decided to drastically cut the price of one-year bonds after issues last year met with lukewarm investor response because of high prices ... (Dziennik Prawa i Gospodarki page 21)