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PLND

Market Vectors Poland ETF

5/21/2013, 9:18 AM ET

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Wednesday, October 3, 2012, 8:04 AM The zloty soars against the euro after Poland's central bank unexpectedly leaves its benchmark rate unchanged at 4.75%. The Polish stock ETF: PLND +22.7% YTD. Comment! [Global & FX]
Wednesday, May 9, 2012, 10:07 AM The National Bank of Poland hikes interest rates 25 bps, bringing its benchmark lending rate to 4.75%, signalling a sharp difference between its economy (inflation worry) vs. much of the rest of Europe (growth worry). Today's increase is 5th in a tightening cycle begun in January 2011. PLND -2.3%. Comment! [Global & FX]
Monday, February 6, 2012, 11:42 AM The IMF tips its hat to Poland, calling it a "bright spot" in the region. The agency notes the nation was able to persevere through the crisis because of its ability to support growth through high domestic demand. It also didn't allow the boom in the housing and banking system to get out of hand like more than a few of its European brethren. Comment! [Global & FX]
Friday, December 30, 2011, 9:19 AM Poland's central bank is rumored to have intervened in the foreign exchange markets to prop up the zloty for the 2nd straight day (the bank has confirmed it intervened on Thursday). Thus far, Poland's finances have been spared much of the concern hitting the PIIGS and its eastern European neighbors such as Hungary. PLND -35% YTD. Comment! [Global & FX]
Tuesday, September 6, 2011, 8:18 AM The SNB's move promises to relieve pressure on eastern European economies where the franc's sharp rise threatened to crush consumers. In Poland and Hungary, more than 50% of mortgages are denominated in francs (effectively making the average homeowner a currency trader with a massive short in the swissie). Comment! [Global & FX]
Tuesday, August 30, 2011, 12:54 PM Poland's GDP grew 4.3% in Q2, beating forecasts. However, much of the growth came from building of inventories, calling into question how sustainable it is. Another concern is the zloty, down sharply against the swiss franc - a hit to about 700K families with franc-denominated mortgages. PLND -12.8% YTD. Comment! [Global & FX]
Wednesday, July 13, 2011, 3:25 PM Poland's June inflation comes in light - 4.2% vs. expectations of 4.8%, mainly due to a drop in food prices following the E. coli scare. The number could keep the central bank on the sidelines for a few months after hikes earlier this year. EPOL +3.4%, PLND +3.1%. 1 Comment [Global & FX]
Wednesday, June 8, 2011, 12:26 PM As expected, Poland's central bank hikes interest rates 25 basis points to 4.5%. It's the 4th hike this cycle with at least one more in the pipeline. EPOL +60%, PLND +50% Y/Y. Comment! [Global & FX]
Wednesday, June 1, 2011, 1:17 PM PMIs throughout Eastern Europe also took a hit in May, with several at or near their lowest level in a year. These countries are dependent on a vibrant EU as destination for their exports and the sharp slowdown there doesn't bode well. Y/Y: GUR +33%, ESR +42%. Comment! [Global & FX]
Wednesday, May 18, 2011, 8:38 AM "The year of Polish capital markets" gets off with a struggle. Poland's sale of its 37% stake in Bank Gospodarki Zywnosciowej flops, as it is only able to sell 12% and at a significant discount to the price it hoped to get. Future sales on the docket include a coal miner, a power company, a refiner, and more banks. Comment! [Global & FX]
Thursday, April 21, 2011, 2:31 PM The zloty surges after Poland says it will use FX reserves to purchase its own currency. This is the 180 degree opposite of nearly all other emerging countries which have been selling domestic currency in a bid to cap gains. Polish shares buck the worldwide trend, -0.5%. PLND +12.4% YTD. 2 Comments [Global & FX]
Tuesday, April 19, 2011, 2:45 PM "This is going in a very bad direction," says the head of Poland's Solidarity union, whose group is planning a series of strikes to push for wage hikes in the face of quickening inflation. Today's report that producer prices are now tripping along at 9.3% will also add to the pressure to hike rates. Earlier. 2 Comments [Global & FX]
Monday, April 18, 2011, 8:15 AM "If we raise rates in May, we’ll simply be joining the panic about March inflation," says Polish central bank member Adam Glipinski, arguing the move would be "a serious mistake." Do central bankers dicker this much when rates are being cut? PLND +11.1% YTD. Comment! [Global & FX]
Thursday, April 14, 2011, 1:03 PM Poland braces for more rate increases after its central bank chief calls the 4.3% Y/Y inflation rate "beyond our range of tolerance. It would be naive to think that even if we consider the spike in inflation as transitory, that we will just let it pass." Transitory ... there's that word again. PLND +11.9% YTD. 2 Comments [Global & FX]
Friday, April 8, 2011, 8:55 AM A dove in Warsaw changes his feathers, Poland central bank member Kazmierczak calling for more rate hikes if the CPI edges any higher. "The inflation problem has gotten serious," he says. It's a sharp change in tone for Kazmierczak, who recently claimed monetary policy is powerless to curb commodity inflation. Comment! [Global & FX]
Tuesday, April 5, 2011, 9:43 AM Poland raises interest rates for the 2nd time this year, lifting the benchmark rate 25 basis points to 4.0%. Inflation, currently running at 3.6%, is expected to accelerate further in coming months. The zloty gains a bit against the euro and shares -0.2%. PLND +8.0% YTD. Comment! [Global & FX]