Friday, April 20, 2007

Polish Zloty Logs Weekly Gain on Expectations of Rate Increase Next Week

(Bloomberg) -- The Polish zloty advanced for a fifth consecutive week against the euro, the longest winning streak since August, on expectations the central bank will lift interest rates this month.

The zloty logged its biggest weekly gain in four months as reports showing industrial output rose last month stoked speculation the National Bank of Poland will increase its benchmark rate by a quarter point at its April 25 meeting. The currency was also buoyed by speculation the Euro 2012 soccer tournament, which Poland is hosting together with Ukraine, will fuel economic growth.


Read more at Bloomberg Currencies News

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