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Forex trading in Poland may have proved robust

Forex trading in Poland may have proved robust
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Forex trading in Poland could have enjoyed strong performances because of the country's relatively robust economy.

A new report by the International Monetary Fund (IMF) said the "flexible exchange rate policy" of the country helped it become the only economy in the EU last year that avoided a recession.

Other factors that may have bolstered forex trading there are its minimised reliance on exports and Poland's large domestic market.

According to the IMF, the country's portfolio inflows have seen favourable performances and higher retained earnings helped support the economy.

Robust fiscal stimulus, monetary easing and the beneficial exchange policy were all cited as examples of Poland's ability to stay afloat during the downturn.

The IMF report stated: "[Banks] have recently started to ease lending policies for housing loans and short-term corporate credits and resumed foreign-currency lending, especially for euro-denominated mortgages."

Managing director of the IMF Dominique Strauss-Kahn welcomed the move by the EU and European Central Bank to agree upon a €720 billion (£619 billion) funding package to restore financial stability in the eurozone.

Posted by Clive ArneilADNFCR-1681-ID-19770558-ADNFCR