At its latest monetary policy meeting held on 18-19 January, the Central Bank decided to raise interest rates by 25 basis points to 3.75%. The decision followed on 18 straight months of interest rates remaining at a record low of 3.50%. The rate hike came as no surprise to market analysts, who had expected a hawkish move to curb rising inflationary pressures after headline inflation rose to a one-year high of 3.1% in December. Following a comment by Central Bank Governor Marek Belka that January's increase in interest rates is not a ?one-time adjustment?, analysts expect the monetary tightening cycle to continue throughout 2011. Prospects of a tighter policy prompted the zloty to appreciate, which should help curbing inflation. 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 scheduled for 15 February 2011.
Poland Monetary Policy
Central Bank raises interest rates to tame rising inflation
January 19, 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.