The Polish Zloty hit a 4-week low of around 4.5 per USD, approaching its record low of 4.6 hit in March, on prospects of aggressive rate-hikes amid lingering concerns about surging inflation and economic slowdown. Ludwik Kotecki, one of the eight policy makers, said that there is a “very low” chance that rate hikes were ending, as domestic inflation runs at over a 24-year high of 13.9%. This was in contrast with the central bank governor Adam Glapinski's statement, who on June 9th announced getting closer to the end of the drastic monetary policy tightening cycle rather than to the beginning, defying most other central banks. Meanwhile, the Polish President signed into law regulations replacing the controversial body disciplining judges with a new accountability panel, attempting to move closer towards disbursement of the EU's USD 38 billion aid package to the eastern European nation.
Historically, the Polish Zloty reached an all time high of 4.73 in October of 2000. Polish Zloty - data, forecasts, historical chart - was last updated on July of 2022.
The Polish Zloty is expected to trade at 4.59 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 4.88 in 12 months time.