IMF Says Poland’s Drive to Weaken Zloty Needs to Be Explained
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The Polish central bank should more clearly spell out why it was trying to weaken the zloty, the International Monetary Fund suggested on Monday, adding that quantitative-easing was the best way to support the economy.
The monetary authority surprised markets at the end of December, when it unexpectedly intervened on the foreign exchange market to the tune of $7 billion, pushing the zloty to its worst performance in almost a decade.