EUR/PLN: Stable for now, decline expected in 2023 – ING

Economists at ING expect the EUR/PLN to trade sideways throughout the rest of the year. In 2023, however, the pair should start to move downward.

Zloty should be supported by high rates in Poland in 2023

“In the remainder of 2022, we expect EUR/PLN to remain in a broad horizontal trend. During the holiday period, investors betting against the zloty took notable stop-losses on low liquidity. Hence, now they should be less inclined to take long EUR/PLN or USD/PLN positions.” 

“Next year, we expect a gradual EUR/PLN decline. The zloty should be supported by high rates in Poland, while some key central banks gear towards easing.”