Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Polish Bond Yields Fall as Kazmierczak Signals Interest Rate Cut

Jan. 17 (Bloomberg) -- Polish bond yields declined after policy maker Andrzej Kazmierczak said the central bank might cut rates further and before a report tomorrow that may show industrial output fell the most since 2009.

The yield on notes maturing October 2023 fell five basis points, or 0.05 percentage point, to 3.98 percent at 5:09 p.m. in Warsaw. The zloty was little changed at 4.1200 per euro.

While the central bank might cut interest rate because of a “significant” decline in inflation, it should be mindful of the zloty exchange rate, Kazmierczak told TV Trwam late yesterday. A report tomorrow will probably show industrial production contracted 6.5 percent from a year earlier in December, the steepest decline since April 2009, according to a median estimate in a Bloomberg survey of 28 economists.

“Kazmierczak’s comments are helping push the yields lower,” Bank Millennium SA economists led by Grzegorz Maliszewski in Warsaw, wrote in an e-mailed report today. “He is perceived as a policy maker who has been in favor of more limited monetary easing than the market expects.”

To contact the reporter on this story: Piotr Skolimowski in Warsaw at pskolimowski@bloomberg.net

To contact the editor responsible for this story: Wojciech Moskwa at wmoskwa@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.