The Polish zloty slid to a 19-month low versus the euro and a
two-and-a-half-year low versus the Czech koruna after Polish central bank
governor Glapiński signaled future rate cuts at a Thursday press conference. The
central bank had left the policy rate unchanged at 3.75% a day earlier, as
expected. In a note, Deutsche Bank’s Tatha Ghose said the move was surprising
amid renewed U.S.-Iran tensions and that the notion Iran could force the central
bank to raise rates has evaporated.
