MPC cut feet, WSE up – Onet.pl

 
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Everyone expected the cut, but no one so big. The Monetary Policy Council cut interest rates to the lowest level in history – the reference was reduced to 1.5%. Previously, the Council lowered the rate in October last year. Today’s move MPC surprised most analysts. Among the 22 people surveyed by PAP only four expected to cut by 50 basis points. At a press conference after the announcement of the decision, NBP governor Marek Belka said that today’s reduction Council completed its easing cycle.

Today we know as the latest inflation forecasts Polish National Bank. They show that in 2015 we have to deal with deflation at 0.5%, and economic growth at the level of 3.45%. Next year, inflation is expected to be 0.85%, and the projection for 2017 years predicts that prices will then rise by 1.05%.

Today Eurostat published data on retail sales. Sales in the euro area in January increased by 3.7% in December after rising by 3.1%. Retail sales in Poland, according to Eurostat increased in January by as much as 7.5%. Faster growth across the EU have only Luxembourg and Hungary.

After yesterday’s correction and not very optimistic beginning of today’s trading , WIG 20 includes the first increase in March. Index came out more than a dash of about 13 hours, and the MPC decision meant that the demand side become active, and it was even higher. The session ended with the level of 2338 points, that is, the increase was 0.64%. WIG30 grew a little more, because 0.67%, and the broad WIG recorded on Wednesday, an increase of 0.80%.

The most a plus – in response to a cut in interest rates – stood out today banks. Sector company took the whole podium today if we are talking about the index of the 20 largest companies WSE. PKO BP grew strongest, because close to 3.5%. Behind him were taken by mBank and Pekao SA – Wednesday respectively gained 2.97% and 2.17%.

The worst qualities were doing today JSW, which again fell below the 20 gold. The decline was 2.5% today, and the price fell to 19.50 dollars. This is the seventh consecutive session at which the shares of JSW depreciate. Only in the last five sessions rate fell by almost 15%.

Among the European stock exchanges were doing very well today Paris and Frankfurt itself – there major indexes rose by approx. 0.8%. From deep red indexes began trading today on the Wall Street.

Tomorrow’s decision on interest rates, central bankers take zones euro and the UK. In addition, on Thursday we will know the Italian GDP in the fourth quarter and data on German industrial orders in January.