18:30 31 January 2026
Zloty is strengthening, making MPC’s decision crucial for trend
The Polish zloty ended the week stronger against the dollar, while yields on Polish government bonds fell by about 5 basis points across the curve. EUR/PLN remains in a downward trend despite higher volatility, supported by foreign capital inflows, strong equity market performance, particularly the WIG index, and better-than-expected macroeconomic data, including 3.6% GDP growth in 2025.
According to market strategist Mirosław Budzicki from PKO BP, expectations of an interest-rate cut by the National Bank of Poland could soon slow the zloty’s appreciation. Lower bond yields are driven by anticipated rate cuts and strong domestic demand, although heavy government bond issuance planned for February may limit further declines.
(pb.pl)
