At its 4-5 October monetary policy meeting, the Central Bank left interest rates unchanged at 4.50% for a fourth consecutive month, 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. The decision of the National Bank of Poland (NBP) mainly reflected a worsening of the global economic scenario as well as the recent weakening of the Polish zloty, which depreciated 6.0% versus the EUR in September (11.9% versus the USD), the sharpest depreciation since December 2008. The Central Bank stressed that ?in the medium term, inflation will be curbed by the anticipated decline in domestic economic growth amidst fiscal tightening, including reduced public investment spending, and interest rate increases implemented in the first half of 2011.? However, policy makers warned that ?the impact of the situation in the global financial markets on the zloty exchange rate constitutes an upside risk factor to domestic price developments.?
Central Bank stays put on interest rates
October 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).