At its latest monetary policy meeting held on 21-22 December, the Central Bank decided to leave interest rates unchanged at the record low level of 3.50%. This decision maintained the Central Bank's monetary policy stance for the 18th consecutive month. Monetary authorities claimed that the global economic recovery is still lagging, particularly due to the negative shocks caused by fiscal austerity measures in several developed economies. As December's inflation has now exceeded the 2.5% target - although remaining within the 1 percentage point tolerance margin - the Central Bank is expected to raise interest rates in the first quarter of 2011, after a comment from its Governor Marek Belka, who stated that ?rates should be raised pre-emptively?. Possible monetary tightening is likely to benefit the zloty, which is expected to further appreciate, hence reducing inflationary pressures in the economy. The Monetary Policy Council (MPC) confirmed the inflation target for 2011 at 2.5% with a tolerance margin of 1 percentage point. The next monetary policy meeting is set for 18-19 January 2011.
Poland Monetary Policy
Central Bank leaves interest rates unchanged in December
December 22, 2010
Looking for forecasts related to Monetary Policy in Poland? Download a sample report now.
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).