At its latest monetary policy meeting held on 4-5 April, the Central Bank increased interest rates by 25 basis points to 4.00%, in a decision that was widely expected by the market. The Bank resumed the tightening cycle after leaving interest rates unchanged at its previous meeting held on 1-2 March. Monetary authorities increased interest rates in January 2011 for the first time after leaving them unchanged since June 2009, when the policymakers cut rates to a record low of 3.50%. The Monetary Policy Council (MPC) justified its hawkish move by pointing to increasing prices of food and crude oil in the global markets, which contributed to inflationary pressures. The Central Bank stated that ?continuing economic recovery in Poland and further employment growth may gradually increase wage and inflationary pressures in the medium term?. In March, inflation jumped to 4.3%, exceeding the 1.0 percentage point tolerance margin of the Central Bank's 2.5% target.
Poland Monetary Policy
Central Bank raises interest rates in April
April 5, 2011
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Poland Economic News
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.
October 3, 2016
The Manufacturing Purchasing Managers’ Index (PMI) rose from August’s 51.5 to a six-month high of 52.2 in September, according to IHS Markit.
September 30, 2016
According to a preliminary estimate released by the Central Statistical Office (GUS) on 30 September, consumer prices recorded flat growth over the previous month in September, which followed the 0.2% fall recorded in August. In annual terms, consumer prices dropped 0.5% in September, which was a less pronounced decline than the 0.8% fall recorded in August.
September 30, 2016
The manufacturing sector business climate index decreased from 4.8 points in August to 3.3 points in September, according to the Central Statistical Office’s Business Tendency Survey (GUS-BTS).