Daily

In today's Eyeopener:

- Today Eurozone industrial production data
- Polish CPI inflation was 2.2% y/y in January, less than in December, more than expected
- Poland’s current account deficit deepened to €1.7bn in December
- Marginal changes in the foreign currency market, small rise in domestic market interest rates

In today's Eyeopener

- Today January inflation in Poland
- 4Q25 GDP advanced by 4.0% y/y, in line with the consensus
- MPC’s Kotecki: cut by 25bp in March highly probable
- Minor changes on the FX market, Polish bonds gained markedly 

In today's Eyeopener

- Today data on 4Q25 GDP growth
- Marked rise in US NFP in January, but 2025 was revised significantly down
- MPC’s Marcin Zarzecki and Gabriela Masłowska thought 3.50% was a reasonable target rate
- Stable zloty, no changes on the debt market
 

In today's Eyeopener

- Today January US labour market data
- MPC’s Litwiniuk and Wnorowski point to 3.50% as possible target rate
- URE (energy market regulator) lowered natural gas tariff price by 3.4%
- Slight correction on the FX market, stronger debt market 

In today's Eyeopener

- Today US retail sales data 
- Adam Glapiński: this year inflation will remain withing the tolerance band, probably below 2.5%
- Unemployment rate in January at 6.0%, in line with expectations
- Average wage in 4Q25 rose by 8.5% y/y, slightly above our forecast and NBP projection
- CEE currencies stronger than before the weekend, bond yields slightly down