3:21 25 November 2021
‘We have to clean this Augean stables': an expert
Such a dramatic sell-off of the zloty in recent days may be behind us, although this does not mean that in December our currency cannot be temporarily even weaker, Marek Rogalski, chief currency analyst of Dom Maklerski Banku Ochrony Środowiska, said.
He forecasts how much the most important foreign currencies may cost by the end of the year.
According to Marek Rogalski, the weakness of the zloty is "a combination of local factors".
"I am talking about the lack of proper communication of the central bank, the high risk of blocking EU funds for Poland as a result of political disputes, the difficult situation on the border with Belarus, but also the wave of pandemics raging on Thursday in Europe. Thus, in order to be able to assume a clearer improvement in the zloty, you have to clean your own Augean stables first," Rogalski said.
In his opinion, the NBP should communicate its determination regarding the policy of "strong zloty".
"Yes, no central bank should do the opposite, especially if we are talking about emerging markets," the analyst stressed.
