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Rates Drop In Europe

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Well in a part of Europe anyway ;)

The Polish reserve bank dropped its base rate by .25% yesterday. It's now 4%, the lowest ever rate for PLN and .5% below the USD.

I don't think that this was entirely expected and yet the Polish Zloty has not fallen at all.

Does anyone know why the PLN is trading so strongly at the moment?

It's gained 15% since the elections in autum.

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