THE NEWS: DJ Polish Central Banker: Zloty Not Far From Equilibrium Rate
THE SCOOP: Polish central bank council member Witold Kozinski told Dow Jones in an interview at Davos that the Polish zloty is close to its equilibrium rate and not threatening the competitiveness of Polish industry, but is
vulnerable to being propelled higher by capital flows. Kozinski said that after the NBP the rise in Polish official interest rates, there was now a danger of 'carry trades' in the market. Markets saw this as the central bank seeing the likelihood of the zloty rising further
THE DIFFERENCE: After the story released, the zloty continued its steady upward climb.
THE SCOOP: Polish central bank council member Witold Kozinski told Dow Jones in an interview at Davos that the Polish zloty is close to its equilibrium rate and not threatening the competitiveness of Polish industry, but is
vulnerable to being propelled higher by capital flows. Kozinski said that after the NBP the rise in Polish official interest rates, there was now a danger of 'carry trades' in the market. Markets saw this as the central bank seeing the likelihood of the zloty rising further
THE DIFFERENCE: After the story released, the zloty continued its steady upward climb.
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