Złoty - Moving Up

It has been a fairly good week for Poland’s currency – before the weekend the rate of the Polish złoty began growing.

Moods also improved in this country after Switzerland decided to cut interest rates – many Poles have mortgages in Swiss francs. Financial analyst Piotr Kuczyński spoke on Polish Radio of generally brighter outlooks:

Moods have improved on the markets and stock exchanges worldwide, there’s a rising appetite for risk, as we call it, and that immediately impacts on the currencies of developing countries, and the Polish złoty, as well. The other reason was the Swiss decision, not only to lower interest rates but most of all on intervention to keep the franc weak.

Piotr Kuczyński also said that inflation in Poland should start to drop as the position of the złoty improves.