Poland's shock rate cut prompts FX losses and bias accusations ahead of election
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Inflation is down more than headline data suggest (3m avg mom at 56-month lows) but not fast enough to justify 75bps cut
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Poland is seeing signs of a demand slowdown, but not comprehensively enough to warrant a recession-level rate-cut pace
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After 3.1% zloty depreciation, rate cut could backfire and damage ruling PiS party's chances in crucial October election
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This report is independent investment research as contemplated by COBS 12.2 of the FCA Handbook and is a research recommendation under COBS 12.4 of the FCA Handbook. Where it is not technically a research recommendation because the subject of the research is not listed on any European exchange, it has nevertheless been treated as a research recommendation to ensure consistent treatment of all Tellimer's research. This report has been produced by the analyst(s) named above (the "Analyst").
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