Exchange rates. The zloty was sharply down after the MPC decision. The dollar has shot like a slingshot, and the euro is rising too

The Monetary Policy Council ordered a raise at its meeting on Thursday interest rates by 75 basis points. From Friday, May 6, the reference rate of the National Bank of Poland will amount to 5.25%. This is the highest level since December 2008. On the other hand, economists forecasted a 100 bp rate hike.

Interest rates went up sharply again. The MPC made a decision

The zloty is losing against the dollar and the euro. The Swiss franc also gains [KURSY WALUT]

After the MPC decision golden began to lose a lot towards dollars. At. At 16:00, the US currency cost about PLN 4.41, and then it went up by a few groszy. At. 19:40 course USD / PLN jumped to the level above PLN 4.46.

Dollar exchange rate against the zloty Stooq.pl

A similar increase has occurred in the case of euro. At. At 16:00 the EUR / PLN rate was around PLN 4.65, and then it jumped to the level (as at 19:40) over PLN 4.69.

Euro exchange rate against the zloty Stooq.pl

Initially, the Swiss franc also started to grow strongly – before the MPC’s decision to raise interest rates, the franc cost PLN 4.48. In the following minutes the CHF / PLN exchange rate increased to PLN 4.53 and then the zloty slightly strengthened – at At 7:40 PM it was PLN 4.52.

Swiss franc exchange rate against the zloty Stooq.pl

You can read more about finances on the home page Gazeta.pl

Feet up, installments too. It was PLN 1,740, there is over PLN 3,000, there will be more

The zloty is weakening, stocks are also going down

Thursday’s decision RPP it surprised the economists a bit, who expected a stronger move. The rate hike also had a negative impact on the stock prices in Warsaw the stock exchange. The most important stock exchange index, WIG20, ended the day with a decline of over 2.5%.

“Today’s decision: introduces even more uncertainty as to the valuation of the rate path, weakens the zloty, which has the potential to hinder the fight against inflation. Perhaps tomorrow’s CEO’s conference will shed some more light” – notes Arkadiusz Balcerowski, an economist and Noble Funds TFI analyst.

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