WARSAW, Jan 16 (Reuters) - Poland’s finance minister said on Saturday he would expect some fluctuations in the zloty on Monday and Tuesday after a ratings downgrade by Standard and Poor’s (S&P), but markets would calm later in the week on positive data from Polish economy.

“We will see what the market reaction will be. I assume it will be short-term, but zloty fluctuations are possible on Monday and Tuesday, but then there will be a return to fundamentals,” the minister, Pawel Szalamacha, told Reuters.

He said that after the first, nervous reaction, investors would focus on data from Polish economy, which were positive. “It’s too early to even think about a potential intervention to defend the zloty,” Szalamacha said.