15:42 2 February 2023
Złoty strengthens after Fed decision to raise rates a quarter point
Polish złoty strengthened to the strongest level since June 2022 after the Federal Reserve’s decision to raise the benchmark interest rate by 0.25 percentage points. The move marked the eighth increase in a row as Fed attempts to bring down inflation. The decision, however, sparked concerns that rising interest rates could push the U.S. economy into recession.
After Fed's decision, Złoty crossed PLN 4.30 mark against the dollar, its strongest level in more than seven months. Since September 2022, when the dollar traded at around PLN 5.0, the greenback lost more than 15.5% against złoty.
