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Poland’s Central Bank Just Tanked the Local Bond Market

  • Central bank rejected all offers to buy treasury bonds
  • Investors speculate QE may be winding down as inflation rises
An 'I Love Warsaw' sign at The Warsaw Spire office complex.

An 'I Love Warsaw' sign at The Warsaw Spire office complex.

Photographer: Lukasz Sokol/Bloomberg
Updated on

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Poland’s central bank has repeatedly vowed to keep government borrowing costs low during the pandemic. Its quantitative-easing auction this week had the opposite effect.