Societe Generale: National Bank of Poland likely to cut rates

Quotes from Societe Generale

• We expect the central bank of Poland to lower rates in two steps, by 25bp in March and by 25bp in April.
• A 50bp interest rate cut in one step is also possible but, in our view, less likely.
  
  
• We would rule out the possibility of deeper rate cuts (more than 50bp). Interest rate adjustment in Poland is currently driven by deeper deflation and the latest changes in ECB policy.