Polish Zloty Advances Against Euro as Wage Growth Slows in July

By Ewa Krukowska

Aug. 18 (Bloomberg) -- Poland's zloty advanced against the euro, reversing an earlier drop, after a government report showed wage growth slowed in July, easing concern interest rates will be raised to curb inflation.

The zloty rose to 3.3284 per euro by 3:05 p.m. in Warsaw, from 3.3339 on Aug. 15 and 3.3450 prior to the release of the data.

Wages increased an annual 11.6 percent, compared with a gain of 12 percent in June, the statistical office in Warsaw said today. The rate was in line with a median estimate of 15 analysts surveyed by Bloomberg. The Monetary Policy Council will decide on interest rates Aug. 27.

To contact the reporters on this story: Ewa Krukowska in Warsaw at ekrukowska@bloomberg.net;