Fitch affirms poland’s credit rating at ‘a-‘, outlook stable
Source: FxWire Pro - Commentary / 18 Jul 2016 10:11:35 Eastern Standard Time
Late on Friday, Fitch rating agency affirmed Poland's A- rating with a stable outlook. Fitch said reduced policy predictability under the Law and Justice (PiS) party government was offset by the country's robust economic fundamentals and improving external finances.
Fitch appreciated that some of the most controversial measures on PiS's agenda raised during the electoral campaign - such as those about conversion of FX mortgages - have been avoided as well as the fact that central bank’s policy remains stable after the reshuffle of the Monetary Policy Council.
“Strong GDP growth in recent years has supported an increase in GDP per capita, which remains low relative to rating peers,” Fitch said in a statement.
Fitch’s decision seemed to have supported the zloty in trading on Monday which overshadowed a possible negative impact of (failed) military coup in Turkey. EUR/PLN was down 1.02 percent on the day while USD/PLN fell around 1percent to trade at 4.3793 and 3.9640 respectively at 10:45 GMT.© FxWire Pro 2018. All rights reserved. The FxWire Pro content received through this service is the intellectual property of FxWire Pro or its third party suppliers. Republication or redistribution of content provided by FxWire Pro is expressly prohibited without the prior written consent of FxWire Pro, except for personal and non-commercial use. Neither FxWire Pro nor its third party suppliers shall be liable for any errors, omissions or delays in content, or for any actions taken in reliance thereon.