The zloty is losing heavily against the dollar during Monday's session on the currency market. You also have to pay more for euro and Swiss franc.
On Monday, around 3 p.m., the USD/PLN exchange rate increased by over 1%. to PLN 4.08, compared to PLN 4.04 in the morning. The euro cost PLN 4.34 (an increase of 0.5%), and the Swiss franc amounted to almost PLN 4.63 (an increase of 0.5%).
On Monday, Poland celebrates National Independence Day. The stock exchange in Warsaw is not operational, but trading on the currency market continues – although in the case of the Polish zloty, the scale of turnover may be smaller.
Growth on European stock exchanges
European stock exchanges saw solid increases in indices on Monday. Investors are assessing the comments of bankers from the European Central Bank.
Member of the ECB Governing Council, Robert Holzmann, said in an interview for “Kleine Zeitung” that interest rate reduction by the ECB in December is possible but is by no means guaranteed.
– In the current state of affairs, such a possibility (of reducing interest rates) exists, for now there is nothing against it – said Holzmann.
– However, this does not mean that this will happen automatically – said the head of the Austrian central bank.
Interest rates in the euro zone
The ECB has already cut borrowing costs three times since June 2024 and is widely expected to do so again next month.
Holzmann is one of the most hawkish decision-makers at the ECB.
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