WOOD Flash – Poland macro: NBP signals hiking cycle formally
The Monetary Policy Council at the NBP has decided to raise the policy rate by 50bps, to 1.75%, higher than the 25bps increase we were anticipating, but in line with the consensus expectations. Nevertheless, this move was not a surprise, in light of the recent hawkish comments from almost all the members of the MPC. Looking ahead, it supports our view that the tightening cycle will continue with stronger steps, which is likely to push the policy rate to 4.00% by the end of 2022E.
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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