Zloty, T-bonds seen stable until end-week, zloty waits for MPC
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The Polish zloty will likely trade stable until the MPC's rate decision as no other impulses on the horizon indicate any significant changes, while the debt market is expected to have a quiet session on Friday after a public holiday on Thursday, local players told PAP. "The zloty is trading very stable on Wednesday in a EUR/PLN 4.125-4.140 ahead of the public holiday on Thursday," ING BSK FX dealer Karol Zaluski told PAP. While international developments may bring some movement in the rest of the week, the key information will come only with the MPC's decision, the dealer expects. Poland's MPC will make the decision on interest rates on November 7 with the market consensus for a 25 bps cut. Also T-bonds are likely to stay calm after a positive session on Thursday, Millennium Bank bond trader Henryk Sulek told PAP. "Prices are growing, the sentiment has improved from Tuesday, although there are no very dynamic changes," Sulek said. "The image of the Polish market is positive and turnover is not small." Poland's T-bond market will be closed on Thursday, but some changes may take place on the zloty or on the bonds on core markets, Sulek pointed out. "Still, I believe that Friday should be rather calm . . . with limited volumes," the trader expects.
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