At its 7-8 February monetary policy meeting, the Central Bank left interest rates unchanged at 4.50% for the eighth consecutive month, in a move that was widely expected by the market. The National Bank of Poland (NBP) stressed that global economic growth in the last quarter of 2011 remained subdued and that uncertainty regarding the fiscal crisis in the Euro area continues to prevail. However, the Bank also stated that the domestic economy had grown at a robust pace last year and that improving investor sentiment in the global financial markets helped to increase demand for emerging-market assets, including the Polish zloty, which appreciated considerably in January. Moreover, the Central Bank maintained its opinion that ?in the medium term inflation will be curbed by gradually decelerating domestic demand?, amidst ?lower economic growth abroad, fiscal tightening in Poland and interest rate increases implemented in the first half of 2011.?
Poland Monetary Policy
Central Bank remains on hold
February 8, 2012
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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.