At its 7 September monetary policy meeting, the Central Bank decided to leave interest rates unchanged at 4.50%, in a move that was widely expected by the market. Interest rates have remained stable since June, when the Bank withdrew additional monetary stimulus from the economy and raised rates by 25 basis points. According to the Monetary Policy Council (MPC), ?the significant monetary policy tightening implemented since the beginning of 2011 should facilitate inflation's return to the target in the medium term.? In August, inflation increased to 4.3% and remained above the 1.0 percentage point tolerance margin around the Central Bank's 2.5% target. Policymakers stressed that going forward, ?inflation will be curbed by slower domestic GDP growth, amidst a fiscal tightening and a likely global economic slowdown.?
Poland Monetary Policy
Central Bank keeps interest rates on hold
September 7, 2011
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Poland Economic News
October 25, 2016
The manufacturing sector business climate index decreased from 3.3 points in September to 1.0 point in October, according to the Central Statistical Office’s Business Tendency Survey (GUS-BTS).
October 25, 2016
In September, retail sales rose 4.8% over the same month last year, which was below August’s over two-year high of a 5.6% increase.
October 19, 2016
In September, industrial production expanded 3.2% over the same month last year, which was notably below the 7.5% expansion recorded in August.
October 12, 2016
According to the Central Statistical Office (GUS), consumer prices recorded flat growth over the previous month in September, which followed the 0.2% decrease recorded in August.
October 5, 2016
As anticipated by market analysts, the National Bank of Poland (NBP) decided to keep the reference rate at the record low of 1.50% at its 4–5 October monetary policy meeting.