Friday, April 27, 2007

Polish Zloty Heads for Sixth Week of Gains as Bank Raises Interest Rates

(Bloomberg) -- Poland's zloty is set to gain versus the euro for a sixth week, its best performance since June 2001, on speculation the central bank will add to its first interest- rate increase in three years.

The zloty has risen almost 1 percent this week after the National Bank of Poland raised borrowing costs to curb inflation stoked by quickening economic expansion. Central banker Dariusz Filar yesterday said the economy probably grew 7 percent in the first quarter, the fastest pace for more than a decade, prompting traders to increase bets rates will rise further.


Read more at Bloomberg Currencies News

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