Poland Buffeted by Top Court Crisis Before Moody’s Review: ChartBy
Poland’s zloty has been on a rollercoaster since the government elected in October took steps to encroach on key institutions. The currency tumbled the most in four years after S&P Global Ratings downgraded the sovereign in January and weakened again last month following a warning by Moody’s Investors Service that a crisis over the constitutional court was “credit negative.” If Moody’s decides to cut Poland’s A2 rating on Friday, as five of 15 economists surveyed by Bloomberg predict, the zloty may slide more than 1 percent to 4.39 per euro, according to their average forecast.
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