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2010.11.1509:27:00UTC+00Poland's Oct Cpi at 2.8 Pct Y/y

News:

Poland's CPI for Oct was at 2.8 pct y/y vs the expectation of 2.9 pct.
The m/m inflation was at 0.5 pct inline with the expectations.
The CPI in Sept was at 2.5 pct y/y.
The zloty and Polish bond prices were little changed immediately after the data release

Quotes:

PIOTR BUJAK, SENIOR ECONOMIST AT BZ WBK BANK: "Taking into account the Finance Ministry's forecast, which was a little higher than our expectations, the data is a bit lower than forecast. Since the data does not differ significantly from the expectations it will not change our monetary policy outlook. We still believe the first rate hike will take place in 2011. We think the council may be worried that a rate hike would lead to excessive appreciation (of the zloty)."
PETER ATTARD MONTALTO, ECONOMIST AT NOMURA INTERNATIONAL: "There are slightly wider spread pressures, that is some core elements like dwellings, than just food and other headline rates. Hence we believe rate hikes can proceed next week."

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