Polish Zloty Falls After Central Bank Holds Rates Steady
The Polish zloty weakened against the US dollar on Wednesday after the National Bank of Poland kept its benchmark interest rate unchanged at 3.75%, matching market expectations at July's meeting. The central bank said annual inflation eased to 2.5% in June, marking its lowest reading since before Middle East tensions and reaching the midpoint of its inflation target range. On the US front, the dollar strengthened as renewed military strikes between the United States and Iran increased demand for safe-haven assets, pushing the US Dollar Index above the 101.2 level and weighing on the zloty. At the time of writing, USD/CZK was trading at 30.7728, up 0.28%.
The Polish zloty weakened against the US dollar on Wednesday after the National Bank of Poland kept its benchmark interest rate unchanged at 3.75%, matching market expectations at July's meeting.
The central bank said annual inflation eased to 2.5% in June, marking its lowest reading since before Middle East tensions and reaching the midpoint of its inflation target range.
On the US front, the dollar strengthened as renewed military strikes between the United States and Iran increased demand for safe-haven assets, pushing the US Dollar Index above the 101.2 level and weighing on the zloty.
At the time of writing, USD/CZK was trading at 30.7728, up 0.28%.