Research (Česká spořitelna)
Macroeconomics  |  February 26, 2013 09:22:55

Poland - retail in January grew more than expected


Polish retail sales in January 2013 more than expected (3.3% y / y against market median -0.2% y / y), which is, after recent figures for industry in other relatively good result. Doing so could enhance the relative hawkish wing in the MPC, which does not want to further rate cut in March. Given the evolution of unemployment and inflation at the lower edge of the band, however, think that there is room for one more reduction. Then waiting for a break. The Polish zloty strengthened from about 4.17 to 4.14. Italian election result, however, it returned to 4.16.

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