Polish Zloty: Downtrend eyes 4.48 on firm support – Societe Generale

Societe Generale’s Central and Eastern European (CEE) strategy team expects the National Bank of Poland (NBP) to keep rates at 3.75% today, with Governor Glapiński likely to flag inflation risks and prepare markets for a November hike. They see a hawkish stance offering some Polish Zloty (PLN) support but still expect EUR/PLN to trade above 4.35 given geopolitical and external risks, after the pair extended gains toward 4.40/4.41 resistance.