WOOD Flash – Poland macro: NBP delivers strong hike, exceeding expectations
At its meeting yesterday (6 October), the MPC at the National Bank of Poland decided to raise the reference rate by 40bps, to 0.50% – the move came earlier than we had expected, and was also bolder. The MPC did not provide much guidance, but we see it as appropriate to lift our baseline scenario from 2.00% by end-2022E to 3.00%, and we expect it to be held here in 2023E, up from the 2.50% we expected earlier.
WOOD & Company is the leading investment bank in Emerging Europe. Founded in 1991 and head-quartered in Prague, our footprint spans the region and touches investors around the globe.
A pioneer in Emerging Europe, WOOD executed many of the first CEE equity trades and landmark investment banking transactions. Our electronic trading platform was the first in the region, and remains the best. We are continually expanding our relevance and reach in these ever-evolving markets.
Our equity market share reflects our stature: 7% in Warsaw, 20% in Bucharest, 16% in Hungary, 40% in Prague and 5% in Vienna. Our distribution is unparalleled, with the largest salesforce in the region, servicing a uniquely diverse investor base.
We couple local expertise with a truly international perspective. With offices on the ground in the region, and in key financial hubs such as London and Milano, we are never far from our clients and we remain at the forefront of what’s afoot in the CEE emerging and frontier landscape.
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