Central Banks
Polish Central Banker Delays Rate Cut Plan in Boost to Zloty
Heating network pipes near a power plant outside Belchatow, Poland.
Photographer: Damian Lemański/BloombergPolish central bank Governor Adam Glapinski unexpectedly pushed back the outlook for interest rate cuts into 2026, citing concerns inflation will surge again after the government eventually removes energy price caps.
Zloty jumped and government bonds sank as the comments blindsided investors. Glapinski and several other policymakers had previously made the case for cuts to start as early as March.