World Economy

Weak Zloty Good

Weak Zloty GoodWeak Zloty Good

Poland’s zloty may weaken further against the euro and the dollar, and a weak zloty is good for exports and the economy, the newly-appointed member of the central bank’s rate-setting panel Jerzy Kropiwnicki said, Reuters reported. “It is not a big worry for me that zloty will not be strengthening, because such a situation is beneficial for our exports,” he said. The zloty has lost 5.5% against the euro since May, partly due to uncertainty over Poland’s economic policy. The central bank kept interest rates at an all-time low of 1.50% last month and said it expected deflation, which has persisted for nearly two years, would continue in the coming months.