Back to the register
Poland · 3 August 2026
WIG-BANKI's five-session gain into 31 July prices further NBP easing, but the July projection round…
WIG-BANKI's five-session gain into 31 July prices further NBP easing, but the July projection round that would test this reading has not yet been published.
- What would prove it wrong
- The NBP's July projection round moves the return-to-target date to 2027 Q4 or later (versus the March round's mid-2027), or an identified alternative driver (fiscal, capital, single-name) explains the WIG-BANKI move instead of the rate-cut premise.
- Next test
- the NBP's July CPI projection round, expected in early August 2026: a return-to-target date of 2027 Q4 or later would contradict the rate-easing premise
- Status
- Desk's current note
This is the desk’s own dated record, settled against market data. Descriptive of a research thesis, not investment advice.