NBP says fiscal policy and regulations regarding fuel prices remain a risk for CPI; further decisions depend on data
- The outlook for global activity and inflation is subject to significant uncertainty, related, in particular, to geopolitical situation.
- NBP may intervene in the foreign exchange market.
- In the near future, do not see change in rates.
Context
The NBP's commentary underscores a cautious stance on monetary policy, noting that fiscal policies and fuel price regulations could pose risks to inflation expectations. With uncertainty surrounding global economic activity and geopolitical tensions, any future adjustments will be data-dependent, indicating a potential for intervention in the FX market but no immediate rate changes anticipated. This suggests a watchful approach to inflationary pressures and currency stability, which could influence cross-asset dynamics.
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