At its 5-6 June monetary policy meeting, the Central Bank left its reference rate unchanged at 4.75%, in line with market expectations. Last month, policymakers had opted to raise interest rates by 25 basis points, the first such move since June 2011, in order to combat persistent above-target inflation. The National Bank of Poland (NBP) stated that global economic growth remains subdued, accompanied by a stagnation in the Euro area. Moreover, the Bank noted that the situation in financial markets has deteriorated since the previous meeting in May, leading to a depreciation of the Polish zloty. On the domestic side, the Bank pointed out that GDP data from the first quarter of this year
Poland Monetary Policy
Central Bank leaves interest rates unchanged in June
June 6, 2012
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Note: NBP Reference Rate in %.
Source: National Bank of Poland (NBP).
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).