Societe Generale: No more rate cuts in Poland at least until Q4
Quotes from Societe Generale The Polish Monetary Policy Council has cut the key interest rate 50bp to 1.50%, outpacing themarket consensus and our forecast of a 25bp cut. The decision also puts the deposit rate at 0.50% …
The Polish Monetary Policy Council has cut the key interest rate 50bp to 1.50%, outpacing themarket consensus and our forecast of a 25bp cut.
The decision also puts the deposit rate at 0.50% and the lombard rate at 2.50%, both record lows. We see this move as a one-off adjustment driven by deeper deflation in Q1, relatively high real rates and the ECB's QE.
Also, the CPI and GDP projections in the Inflation Report supported rate cuts in March.
We are convinced that the MPC will now remain in "wait-and-see" mode at least until Q4 this year.
Gold prices edged lower on Monday as stronger-than-expected U.S. nonfarm payrolls data dampened hopes for aggressive Federal Reserve rate cuts, bolstering the dollar. Spot gold slipped 0.1% to $2,686.32 an ounce, while F…
On-chain data shows BTC whales moved 10000 BTC from Crypto exchanges. This indicate accumulation of BTC by whales. Japanese public company Metaplanet buys another 1 billion yen worth of Bitcoin. According to Santiment, t…
Personal income increased by 0.2% month over month In August, which was less than the 0.4% market forecast and less than the 0.3% growth in July. For the third consecutive month, real personal disposable income increased…
