On the foreign exchange market, the tendency for the zloty to strengthen has resumed, which indicates that the economy is “doing quite well,” according to Monetary Policy Council (MPC) member Jerzy Żyżyński.
“The zloty has weakened a bit. This has helped exports. But it did not weaken insanely, there is a tendency for the zloty to strengthen again. This shows that the economy is holding up quite well,” said Zyzynski during an online webinar entitled “Are we threatened by inflation and how?” organized by Kozminski University.
At the beginning of May, the President of the National Bank of Poland (NBP) and Chairman of the MPC Adam Glapiński said that the NBP does not expect any further interventions on the FX market in the near future, and the central bank’s objective is not the exchange rate.