• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

Zloty set to pace FX gains with rate hike back in sight- Reuters poll

September 3, 2021 by David Barret Leave a Comment

September 3, 2021

By Miroslava Krufova and Jason Hovet

PRAGUE (Reuters) – The zloty has further space to climb after a rally this week as chances grow that Poland’s central bank will begin lifting interest rates sooner rather than later, a Reuters poll showed on Friday.

The Polish currency has lagged peers in central Europe in 2021 with the Hungarian forint and Czech crown leading as their respective central banks have started tightening cycles amid a post-pandemic economic recovery and rising inflation pressures.

While Poland’s central bank has resisted turning too quickly to interest rate rises, a spike in headline inflation to a two-decade high in August has spurred speculation that a hike as soon as November is now possible. Other analysts have said a first move is only likely next year.

The zloty jumped 1.2% on Tuesday and Wednesday after the inflation data came out, its biggest two-day rise since April.

The Reuters poll forecasts the zloty to gain another 1.8% over the next 12 months, reaching 4.425 to the euro, a forecast similar to the poll a month ago.

But with risks around issues – like the treatment of foreign currency loans that have gone to courts, or political battles between Warsaw and the European Union – the zloty’s ride is unlikely to be smooth.

Malgorzata Krzywicka, an analyst with Erste Group Bank, said the zloty would still underperform peers until the Polish central bank launches rate hikes.

“The recent strengthening is overdone and there could be a correction coming, but nothing very strong. I think the reaction (to an eventual rate hike) will be lighter but in the next year there could be some more appreciation.”

The forint has been central Europe’s top gainer in 2021 with a climb of more than 4%.

It is forecast to continue to strengthen and rise 0.8% over the next year to 345.2 to the euro. The crown was expected to gain 1.0% to 25.10 per euro in 12 months’ time.

“The positive interest rate differential against the euro should support both (the crown and forint) currencies in the coming months,” said Radomir Jac, chief economist for Generali Investments CEE.

“But I share the view that the Hungarian central bank will moderate the pace and frequency of interest rate hikes…This is likely to lead to a slower pace of strengthening of the forint compared to the appreciation seen in summer and compared to the crown and zloty.”

(For other stories from Reuters foreign exchangepolls:)

(Reporting by Miroslava Krufova and Jason Hovet, editing by Mark Heinrich)

Source Link Zloty set to pace FX gains with rate hike back in sight- Reuters poll

David Barret
David Barret

Related posts:

  1. “Our Mikis has gone”: ‘Zorba the Greek’ composer Theodorakis dies at 96
  2. WTO chief seeks fishing, pandemic accords by year end
  3. 5 Star Wars games we’d love to see on PC
  4. Amazon Labor Day sales 2021: the best early deals

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • DNA From Greenland Sled Dogs – Maybe The World’s Oldest Breed – Reveals 1,000 Years Of Arctic History
  • Why Doesn’t Moonrise Shift By The Same Amount Each Night?
  • Moa De-Extinction, Fashionable Chimps, And Robot Surgery – No Human Required
  • “Human”: Powerful New Images Mark The Most Scientifically Accurate “Hyper-Real 3D Models Of Human Species Ever”
  • Did We Accidentally Leave Life On The Moon In 2019 – And Could We Revive It?
  • 1.8 Million Years Ago, Two Extinct Humans Had One Of The Gnarliest Deaths In History
  • “Powerful Image” Of One Of The World’s Rarest Tigers Exposes The Real Danger In Taman Negara
  • Evolution, Domestication, And A Lot Of Very Good Boys: How Wolves Became Dogs
  • Why Do Orcas Have White Spots Near Their Eyes?
  • Tomb Of First King Of Ancient Maya City Discovered In Belize
  • The Real Reason The Tip Of Your Tape Measure Wiggles Like That
  • The “Haunting” Last Message From NASA’s Opportunity Rover, Sent From Inside A Planet-Wide Storm
  • Adorable Video Proves Not All Gorillas Hate The Rain. It Might Even Win One A Mate
  • 5,000-Year-Old Rock Art May Show One Of Ancient Egypt’s First Rulers
  • Alzheimer’s-Linked Protein Levels “20 Times Higher” In Newborn Babies – What Does This Mean?
  • Americans Were Asked If They Thought Civil War Was Coming. The Results Were Unexpected
  • Voyager 1 & 2 Could Be Detected From Almost A Light-Year Away With Our Current Technology
  • Dams Have Nudged Earth’s Poles By Over 1 Meter In The Past 200 Years
  • This Sugar Could Be A Cure For Male Pattern Baldness – And It’s Been In Our Bodies All Along
  • “Cosmic Immigrants”: Daytime Star Seen In 1604 May Be An “Alien Type Ia Supernova”
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version