Polish Finance Minister Szalamacha reiterated on Tuesday that the ministry doesn’t plan FX interventions to support the zloty. He added that the currency would return to pre-Brexit levels (he nevertheless provided no specific horizon).
The Central European currencies benefited from better mood and slightly strengthened on Tuesday. Polish 10Y government bond yields have already fully recovered from the Brexit shock and for example the Polish yield is even seen at the lowest level since mid May.
Poland’s Foreign Minister Waszczykowski after meeting with his counterparts and officials from nine member states in Warsaw on Monday said that both British and European decision makers were responsible for the UK opting out of the bloc. Waszczykowski called for some EU leaders to step down following Britain’s decision to leave the bloc.
Waszczykowski also called on Europe to draft new accords for member states. He had in the run-up to the UK referendum warned that if Britons decided to leave the EU, Poland could end up sidelined in a bloc dominated by euro zone countries. He added that a “two-speed Europe” could appear.
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