15:00 2 November 2026
NBP’s uncertainty threatens Zloty as inflation eases
Poland’s zloty weakened to 4.42 per euro on Monday as lower-than-expected inflation reduced prospects of an interest rate increase this year. October CPI fell to 3.5% y/y from 4.1% in September. Political tensions could pose further risks if they disrupt the National Bank of Poland. Deputy Governor Adam Lipiński’s term ends on November 4, leaving the bank’s management board below its statutory minimum unless vacancies are filled. Parliament may also consider a motion to bring Governor Adam Glapiński before the State Tribunal.
S&P Global’s review of Poland’s credit rating is scheduled for November 6. PKO BP economists do not expect recent events to affect the outcome, but say the dispute could be identified as a risk.
(pb.pl)
