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

Zloty Weakens for Second Day as CPI Seen Pointing to Slowdown

Feb. 12 (Bloomberg) -- The zloty retreated for a second day as a report this week may show inflation slowed for the fourth consecutive month, giving Poland’s central bank more leeway to cut interest rates.

The zloty is the worst-performing emerging-market currency from Europe this year as the country’s economy weakens and interest rates were cut by a total of 100 basis points since November. Poland’s inflation rate probably slowed to 2 percent in January, the lowest since August 2010, from 2.4 percent in December, according to a median estimate in a Bloomberg survey of 30 economists before the data are published on Feb. 15.

“The zloty may stay under pressure today,” Szilvia Laszlo, an emerging-market economist at DZ Bank AG, said in e-mailed report today. “Inflation may stay low and economic growth is decelerating.”

The zloty depreciated 0.3 percent to 4.1671 per euro at 1:44 p.m. in Warsaw, extending this year’s decline to 2.1 percent, compared with a 0.8 weakening by the Czech koruna and less than 0.1 percent appreciation by Hungary’s forint. The yield on Poland’s 10-year notes denomiated in zloty rose two basis points, or 0.02 percentage point, to 4.07 percent.

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.